IRA Qualified Charitable Distribution

IRA Qualified Charitable Distribution or QCD

If you're 70 ½ or older, each year you can instruct your IRA administrator to transfer a gift (up to $100,000) directly to the CDC Foundation and avoid paying the tax had you taken the distribution as income.

The IRA Qualified Charitable Distribution allows you to exclude certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities from your taxable income.

To Qualify

  • You must be age 70 ½ or older at the time of the gift.
  • Transfers must be made directly from a traditional IRA account by your IRA administrator to the CDC Foundation. Funds that are withdrawn by you and then contributed to charity do NOT qualify. Gifts from 401k, 403b, SEP and other plans do not qualify.
  • The gift must be completed during the applicable tax year.

What are the Benefits of an IRA Qualified Charitable Distribution or QCD

  • An IRA qualified charitable distribution makes it easier to use IRA assets during your lifetime to make charitable gifts.
  • Your gifts do not count as income for federal income tax purposes.
  • If you have already used up your charitable deductions or do not itemize your deductions, you can still make gifts through tax-free IRA transfers.
  • You can use tax-free IRA QCDs to make any kind of outright charitable gift, including:
    • Making an unrestricted gift to the CDC Foundation
    • To honor or recognize a friend or loved one
    • Making a restricted to an existing CDC Foundation Named or Endowed Fund
    • To establish a Named or Endowed Fund*

*Please contact us for additional details

An individual taxpayer's total IRA qualified charitable distribution gifts cannot exceed $100,000 per tax year. 

 

Request My Qualified Charitable Distribution Forms

Request a QCD Tax Acknowledgement Letter
I have already made a Qualified Charitable Distribution gift to the CDC Foundation, and I need a tax acknowledgement letter.

 

If you have additional questions, please contact:
Helene Erenberg
Director of Major Gifts and Individual Support
600 Peachtree Street NE, Suite 1000
Atlanta, GA 30308
Phone: 404.443.1139
Fax: 404.653.0330
Email

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Charitable giving vehicles described herein are offered only in areas where permitted by law. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.