Give a Qualified Charitable Donation or Stock Donation

Partner with San Joaquin Valley YFC with a gift from your IRA.

Did you know that if you are 70.5, you can give a qualified charitable donation or QCD directly from your IRA and enjoy increased tax benefits versus a standard cash gift?

The gift must be made directly from your IRA (don’t worry, we will help you do that).  Our partner Freewill is offering a free tool to guide you through the exact process required by most popular financial institutions.  If the forms required by your IRA custodian is not listed on the Freewill site, the tool can still provide guidance about the steps you’ll need to take to make your QCD.  Many retirement plan administrators require you to use their distribution forms and comply with other requirements, so follow your financial institution’s forms and procedures to ensure you receive the proper tax benefits with this type of gift.

There are several benefits to you by giving in this manner:

  • Does not reduce your cash flow for living expenses
  • Full tax write-off for the full value of the gift
  • No additional tax liability since you don’t not receive the income
  • If between 70.5 and 72 you reduce your future RMD amounts
  • If 72+, the QCD counts towards your RMD

Guidelines:

  • Must be from traditional IRA or Roth IRA, not 401K.
  • $100,000 maximum in annual gifts

More questions?

Give Rick a call at (209) 541-5720 or email at rjf@multiply417.com