Qualified Charitable Distributions

If you’re 70 ½ or older, you can make up to $100,000 in charitable gifts from your IRA account each year and reduce your federal taxes on the distribution. In 2020, the required minimum distributions (RMDs) have been waived, but you could still potentially lower your future taxable income through a Qualified Charitable Distribution (QCD).

Gifts made through an IRA charitable rollover are not reportable as taxable income so you could pay less in taxes. And for non-itemizers, an IRA charitable rollover can still provide tax benefits because it reduces taxable income.

How it Works:

To take advantage of this opportunity, you must meet the following requirements:

  • You are age 70½ or older at the time of the gift
  • You transfer funds directly from your IRA to WBUR
  • Your gift does not exceed $100,000
  • The transfer occurs before December 31, 2020

Please consult your financial advisor prior to instructing your IRA provider to make a gift under this provision.

If you are mailing a check, please direct it to:

WBUR Development
Attn: Jeanne Emanuel
890 Commonwealth Avenue, 3rd Floor
Boston, MA 02215

Resources:

Please feel free to contact Jeanne Emanuel at (617) 353-0166 or jemanuel@wbur.org with any questions you may have.

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.