Donate from Your IRA: An Option for U.S. Donors Over 70.5 Years Old

Donate from Your IRA

If you are a U.S. taxpayer over 70.5 years old and have available funds in a qualified retirement account, there is a great option available for you to give to The Prem Rawat Foundation.

The Qualified Charitable Distribution (QCD) allows you to distribute up to $100,000 annually to your charities of choice and this distribution counts towards your Required Minimum Distribution (RMD). 

In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.

Also, contributing through a QCD does not require reporting an itemized deduction Schedule A on your tax return.  Instead, per the IRS law, you have the option to take advantage of the higher standard deduction, but still use a QCD for charitable giving.

Contact your IRA Custodian to arrange for the RMD to be paid directly to TPRF or consult your professional tax advisor for more information.

Or email TPRF with questions at [email protected]

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