IRA Direct Rollover

Instructions

Give Tax-Free with an IRA Qualified Charitable Distribution

A Qualified Charitable Distribution (QCD) is a distribution from an IRA directly to an eligible charity. The primary benefit of a QCD is that the amount is excludable from taxable income on the donor’s annual Form 1040 tax return. As a result, the amount of the QCD amount is excluded from the taxpayer’s (donor) itemized deductions on Schedule A.

  • QCDs are direct distributions to charity from traditional IRAs.
  • To qualify, the person must be at least age 70½ years old at the time of the distribution, and the funds must be directly transferred from the IRA custodian to an eligible charity.
  • QCD’s also count toward an individual’s Required Minimum Distribution (RMD), if eligible.

Consult your investment and/or tax advisor for specific applicability to your situation.

 

5 Easy Steps to Donate from an IRA

  1. Contact your IRA account custodian (investment advisor)
  2. Determine if you are eligible for a QCD distribution.
  3. Identify the charity or charities to receive the QCD distribution.
  4. Complete the broker / trustee instruction paperwork directing the distribution(s) to the charity or charities of your choosing.
  5. Your IRA custodian will direct the distribution per your instruction by mailing a check directly to the charity.

Qualified Charitable Distributions (QCD) from an IRA can be set up for distribution annually or on a regular schedule throughout the year at the direction of the account owner.

Your QCD distribution can be mailed to Mitchell Road at the following address:

Mitchell Road Presbyterian Church, 207 Mitchell Road, Greenville SC 29615-2644, Attn: Ted Dankovich

FEIN (Tax ID): 57-0517685

If you have any questions or would like further clarification, please contact Ted Dankovich at the church business office 864-268-2218 ext. 1205 or by email finance@mitchellroad.org

Give Tax-Free with an IRA Qualified Charitable Distribution

A Qualified Charitable Distribution (QCD) is a distribution from an IRA directly to an eligible charity. The primary benefit of a QCD is that the amount is excludable from taxable income on the donor’s annual Form 1040 tax return. As a result, the amount of the QCD amount is excluded from the taxpayer’s (donor) itemized deductions on Schedule A.

  • QCDs are direct distributions to charity from traditional IRAs.
  • To qualify, the person must be at least age 70½ years old at the time of the distribution, and the funds must be directly transferred from the IRA custodian to an eligible charity.
  • QCD’s also count toward an individual’s Required Minimum Distribution (RMD), if eligible.

Consult your investment and/or tax advisor for specific applicability to your situation.

 

5 Easy Steps to Donate from an IRA

  1. Contact your IRA account custodian (investment advisor)
  2. Determine if you are eligible for a QCD distribution.
  3. Identify the charity or charities to receive the QCD distribution.
  4. Complete the broker / trustee instruction paperwork directing the distribution(s) to the charity or charities of your choosing.
  5. Your IRA custodian will direct the distribution per your instruction by mailing a check directly to the charity.

Qualified Charitable Distributions (QCD) from an IRA can be set up for distribution annually or on a regular schedule throughout the year at the direction of the account owner.

Your QCD distribution can be mailed to Mitchell Road at the following address:

Mitchell Road Presbyterian Church, 207 Mitchell Road, Greenville SC 29615-2644, Attn: Ted Dankovich

FEIN (Tax ID): 57-0517685

If you have any questions or would like further clarification, please contact Ted Dankovich at the church business office 864-268-2218 ext. 1205 or by email finance@mitchellroad.org

Questions?