How it works:

• The IRA trustee sends the funds directly to the charity
• The donor can request multiple QCDs in a year, but the total amount excluded from income is limited to $105,000 in 2024
• QCDs can count toward the required minimum distribution (RMD) for the year for those who are at least 73 years old
• The IRA trustee reports the QCD on the account owner's annual tax return, Form 1099-R

Who can make a QCD?

• Eligible IRA owners who are at least 70.5 years old
• Married couples who meet the qualifications and have separate IRAs

How to make a QCD?

• Contact the IRA trustee to request a form or instructions for making a QCD
• Provide the trustee with the name and address of the charity, and the amount of the donation
• Review and submit the request

When to consider making a QCD?

• A QCD can be a good way to give to charity before the end of the year
• A QCD can be a way to claim a state tax deduction
• A QCD can be a way to avoid income restrictions on charitable deductions

• Wills or Living Trusts: Name Gateway Home as a beneficiary with a specific amount, percentage, or property.
• Life Insurance: Name Gateway Home as the beneficiary/owner of your life insurance policy.
• Retirement Plans: Name Gateway Home as the beneficiary to avoid income tax on plan distribution.
• Charitable Remainder Trusts: Receive tax benefits while ensuring Gateway Home's future.