IRAs and Qualified Charitable Distributions

IRAs and Qualified Charitable Distributions

When you reach age 70½, you can take advantage of making a qualified charitable distribution from your IRA. An IRA qualified charitable distribution allows you to make a gift up to $108,000 annually from your IRA to SVdP and avoid income taxes on the distribution. Even if you don’t itemize your federal tax return and take the standard deduction, you can still avoid taxes with this type of gift.

You can make qualified distributions up to $108,000 per individual or $216,000 per couple each year to help people in need.

To Make a Qualifying Gift

• You must be at least age 70½ at the time of the gift.
• Transfers must be made directly from a traditional IRA account by your IRA administrator to SVdP.
• Please do not withdraw your funds and send your gift to SVdP yourself. Funds that are withdrawn by you and then contributed do NOT qualify.
• The IRS will not count your qualified transfer to SVdP as income; therefore you will not be entitled to a federal income tax deduction for your gift. However, each state treats this differently so please consult your tax or financial advisor.

When requesting your plan administrator to mail your QCD contribution, please ask them to identify this as a QCD gift, to include your name as the donor, and to mail to: Dennis Kempf
National Council of the United States, Society of St. Vincent de Paul, Inc., 66 Progress Parkway, Maryland Heights, MO 63043-3706