A qualified charitable distribution (QCD) is a way for retirees over age 70 to be able to make tax-free donations from their IRAs to charities. There are a number of reasons a QCD can be a great giving option:
- You don’t pay taxes on the distribution.
- You can give up to $108,000 each year.
- QCDs do not count toward charitable income tax deductions, so you can make these tax free gifts even if you have maxed out charitable deductions.
- Your gifts don’t count toward your income.
How to get started
To get started with a QCD, contact your plan administrator to see if you qualify for making a gift from your IRA to Woodland Hills. Please note that QCDs must be made directly by the trustee of the IRA to the charity, so an IRA distribution made directly to you, the IRA owner, does not count.
You can coordinate all details with your plan administrator if you like. Or, if it’s helpful, you can complete this form and send it to your plan administrator and to us. Once processed, gifts donated through QCDs will appear on your annual giving statement.
Learn more
Beyond QCDs, you can also designate Woodland Hills as a beneficiary of your IRA. If you have any questions or want to learn more about using your IRA to support Woodland, contact Jodi Cremers, our Business Administrator, at jcremers@whchurch.org or 651-287-2043.
Thank you for your support for Woodland Hills!
