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IRA Qualified Charitable Distribution 

For individuals age 70 ½ or older, an IRA Qualified Charitable Distribution (QCD) is a way to make a tax-free gift to KidsCareEverywhere (KCE) and satisfy your Required Minimum Distribution (RMD). 

 

What are the benefits of a QCD gift?

 

  • Transfer tax-free gifts from your IRA to KCE.

  • Starting at age 73, every IRA account holder must withdraw a RMD annually. The RMD is treated as ordinary income for tax purposes. A QCD counts toward your RMD without increasing your taxable income.

  • If you don’t itemize deductions and are not yet required to take your RMD, a QCD offers all of the benefits of an itemized income tax charitable deduction.

 

How Do I Qualify?

 

  • You must be 70 ½ years or older at the time of the gift.

  • Gifts must come from a traditional IRA or Roth IRA.

  • Gifts must go directly from your IRA to KCE. If you deposit your RMD and write a personal check, it will increase your taxable income.

 

How do I make a QCD gift to KCE?

 

  • Contact your QCD custodian directly and request the check is made out to “KidsCareEverywhere” and mailed to: KidsCareEverywhere, P.O. Box 5623, Berkeley, CA 94705. KCE's tax identification number (EIN) is 14-1994362.

    • Please note: It is important to make your QCD as early as possible to allow enough time for your check to clear and ensure the funds are withdrawn during your preferred tax year, and avoid up to a 50% tax penalty for not taking an RMD.​

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Are there restrictions on QCDs?

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  • In 2024, the withdrawal may not exceed $105,000 annually per individual. 

  • Non-IRA qualified retirement plans, like 401k and 403b plans, are not eligible for making a QCD.

  • A QCD is only eligible for outright donations and cannot be given to a donor advised fund.

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How do I use my check-writing privileges to transfer funds from my IRA to KCE?

 

  • Some IRA custodians offer check-writing privileges to allow you to make a gift directly. If you wish to make a gift with a check from your IRA account, please make it out to “KidsCareEverywhere” and mail it to: KidsCareEverywhere, P.O. Box 5623, Berkeley, CA 94705.

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