Published on LICARES.ORG 2024

A charitable IRA rollover is a golden opportunity to save on taxes while donating to a cause you care about. Not to mention, you can save thousands of dollars on your taxes every year. To learn more about this strategy, keep reading on to find out how IRA charitable donations work and why they’re worth looking into.

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What Is A Charitable IRA Rollover?  

Also known as Qualified Charitable Distribution (QCD), a charitable IRA rollover is a charitable gift you give to a qualified organization or institution.  

To qualify for this provision, you need to:  

• Be 70 ½ or older on the day you made the gift  

• Make the gift to a certified charity or organization 

• Transfer it directly from your IRA 

One of the biggest reasons why retirees do this is the countless benefits they can receive. From tax savings to meeting yearly distribution requirements, a yearly QCD can be a valuable addition...