Qualified Charitable Deductions (QCD) from an IRA

This tax-wise giving strategy is an all-around win.

If you are over 70½, you can gift funds from your IRA at a tax savings. Here’s how it works:

• You must be 70½ or older.
• Your gift must be transferred directly from your IRA account to the Harris Center for Conservation Education.
• Your gift is a transfer of funds from your IRA to the Harris Center, so while you do not receive a charitable deduction, it does not create taxable income for you.*
• You may transfer up to a total of $100,000 per year (individual) or $200,000 (married couple) — but gifts of any amount (no minimum) are greatly appreciated.
• If you are required to take a Required Minimum Distribution (RMD) from your IRA, your gift can count towards it, but your gift is not limited to your RMD. If you are using a checkbook issued by your IRA administrator to make your gift, please send your gift as early as possible to ensure that it qualifies for a distribution in the current year.

* Please seek advice from your financial advisor regarding the tax implications of your gift, particularly if you plan to continue to contribute to your IRA after age 70½, as your gift may not qualify for these tax benefits.

The Harris Center for Conservation Education EIN: 23-7085105.

Kindly contact our office if you arrange for an IRA contribution so that we may acknowledge your gift appropriately.