IRA Rollover

IRA gifts – commonly called the IRA charitable rollover or a qualified charitable distribution (QCD) – are a way to give and get a little back. Below are some benefits to the donor.

Meet your Required Minimum Distribution. If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation. (The IRS website has more information about RMDs).

Save on taxes. Funds withdrawn from your IRA usually count toward your annual income, which increases your overall tax burden. You can give any amount up to a certain maximum from your IRA directly to a qualified charity such as Reach Out Lakota without having to pay income taxes on the money.

Also, since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

Contact your IRA custodian to fill out the necessary forms and donate in this way.