Should I set up a Qualified Charitable Distribution (QCD) for 2024

Here's a way to support St. Louis Public Radio if you are required to take a distribution from your IRA.

Qualified Charitable Distributions or QCD (sometimes called IRA Charitable Rollovers) allow you to make a gift directly from your IRA each year, without having those distributions included in your adjusted gross income.

Question: How do you qualify to make a QCD from your IRA?

• You must be 70.5 years of age or older.
• Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for the tax-free treatment.
• Distribution must be made directly from the IRA trustee payable to St. Louis Public Radio.
• Your total combined charitable IRA rollover contributions are limited to $105,000 per year. (Married couples may be able to contribute up to $210,000.)
• You cannot receive any goods, services, or thank you gifts in exchange for your Qualified Charitable Distribution.
• You must receive an acknowledgement from St. Louis Public Radio for each Qualified Charitable Distribution.

Question: What are the benefits for me?

• You can use an often-overlooked asset to make a gift to St. Louis Public Radio.
• You avoid recognizing taxable income on the distribution.
• You can receive a tax benefit regardless of whether you itemize deductions or take the standard deduction on your income tax return.
• The distribution can count toward your required minimum distribution for the year.

Question: How do I make a Qualified Charitable Distribution?

• To make a Qualified Charitable Distribution prior to calendar year-end, plan to contact your IRA administrator as soon as possible, as some administrators may place a deadline on requesting transfers.
• Your administrator will need our legal name, St. Louis Public Radio, and federal tax ID: 26-6440629.
• You can contact Jeremy Goldberg through email at [email protected] or by phone at 314-516-5494 with any questions.