Qualified Charitable Distributions

Did you know the gift of a Qualified Charitable Distribution (QCD) benefits donors aged 70½ and up?

The Qualified Charitable Distribution is an excellent way to show your support for SuperHealth and receive tax benefits in return. As you plan your charitable giving for this year, consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction!

It’s important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to share this gift plan with your financial advisor.

To qualify

• You must be 70½ or older at the time of gift.

• Distributions must be made directly from a traditional IRA account by your IRA administrator to SuperHealth.

• Gifts must be outright, meaning they go directly to SuperHealth. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities do not qualify.

• Gifts from 401k, 403b, SEP and other plans do not qualify. Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an IRA Qualified Charitable Distribution.

Tax Benefits

• IRA Qualified Charitable Distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040.

• The gift counts toward your required minimum distribution for the year in which you made the gift.

You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.