This is currently not possible (as of October 2016). Making a QCD from an IRA may reduce your provisional income which could result in tax and financial benefits, such as reducing the tax you pay on Social Security benefits.Įveryone’s situation is different, and we suggest you consult your financial advisor to discuss the best way for you to make your gifts.Ĭan I direct a QCD from my IRA to create a charitable gift annuity? Many of our IRA donors view this as an opportunity to manage their income. Why would I want to make a QCD if I can’t deduct my gift? If you have an employer-sponsored retirement plan, for example a 401 (k) or 403 (b), consult your financial advisor about creating a new IRA from these plan assets to make your charitable gifts. Only distributions from an individual IRA (including a rollover IRA) are eligible. Can I make a gift directly from my employer-sponsored retirement plan? We encourage you to consult your own legal or tax advisor. This is not intended to be legal or tax advice. How can I make a Qualified Charitable Distribution?Ĭontact your IRA administrator for their QCD distribution form and information on the procedure to make such a gift.įunds can be transferred directly to Bryn Mawr College (Federal Tax ID #23-1352621) and checks should be mailed to:ġ01 North Merion Ave, Bryn Mawr, PA 19010-2899 It is a wonderful way to create an immediate impact at Bryn Mawr College.You may direct your gift to a program or area of your choice.If you are age 72 or older and must take your RMD, a QCD can satisfy your RMD without increasing your income taxes.If you don’t itemize deductions and are not yet required to take your RMD, then a QCD offers all of the benefits of an itemized income tax charitable deduction.The QCD offers multiple benefits for making gifts from your traditional or Roth IRA.