About This Gift
Also commonly known as an IRA Charitable Rollover gift. Donors age 70 ½ and older may direct lifetime distributions from their traditional or Roth IRA to the National Center on Sexual Exploitation. This distribution may* count toward your required minimum distribution without increasing your taxable income. You can make contributions totaling up to $100,000 to NCOSE and other qualified charities annually.
*If you make contributions to your IRA after age 70 ½, some charitable distributions from your IRA may be treated as income. Please discuss this with your financial advisor before contributing.
How It Works
1. Notify your IRA custodian to make a direct transfer of the distribution amount from the IRA to the National Center on Sexual Exploitation.
2. You take the portion of your required minimum distribution (RMD) that you need as income and transfer the remainder to NCOSE (a qualified charity), thereby only paying income tax on the needed income*.
3. Obtain a written acknowledgment from NCOSE (different from a tax deduction receipt) to benefit from the tax-free treatment.
Benefits
1. The distribution counts toward your required minimum distribution (RMD).*
2. You effectively bypass paying any income tax* on the amount transferred to charity versus if you take your full required minimum distribution (RMD), paying tax on the income and then writing a check to a charity.
3. Up to $100,000 of the amount transferred qualifies for this beneficial tax treatment.
Contact us
If you have any questions about a Qualified Charitable Distribution gift, please contact us. We would be happy to assist you and answer any questions you might have.
