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Giving Through Your IRA

Did you know that you can make a difference today and get some tax benefits at the same time? It is possible when you give to Care Net through your traditional IRA. Since Care net is a qualified charity according to the IRS, this is called a Qualified Charitable Distribution (QCD).

Make a QCD Gift at Freewill.com

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For more information, contact Bob Milton at Bmilton@care-net.org or 205-914-4812

IF YOU ARE 70 ½ YEARS OLD OR ABOVE:

You can give up to $100,000 a year from your IRA directly to Care Net without having to pay any income tax on the amount you give. You get to save babies and offer compassion, hope, and help to moms and dads who are facing difficult pregnancy decisions.

 

BENEFITS OF A QCD GIFT

  • Any amount given through a QCD gift count towards you Required Minimum Distribution (RMD) but will not count toward your income.
  • In the year that you turn 72, you must begin to receive your RMD.  You can give a gift to Care Net to satisfy all or part of the RMD
  • You will not receive a charitable tax deduction, but you don’t claim the gift amount as income which could mean lower Medicare premiums. It could also lower your taxable Social Security amount.

HOW DO I MAKE A GIFT FROM MY IRA/QCD TO CARE NET?

  • Contact the administrator of your traditional IRA account and inform them you wish to make a gift to Care Net through your IRA. You cannot receive a check from your administrator and then send a check. The check must come from your administrator. Please note: Donor Advised Funds (DAF) are not eligible to receive these funds
  • Through our partnership with FreeWill.com the process has become very easy.

Make a QCD Gift at Freewill.com

Everyone’s situation is different. Please make sure to talk to your tax professional to make sure this is right for you.

 

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