Make Gifts from Your Individual Retirement Account (IRA).
If you are 70½ or older and have an IRA, you have the option of making tax-free gifts of up to $100,000.00 annually directly from your IRA to qualifying charitable organizations.
When you make a Qualified Charitable Distribution (QCD) from your IRA, you do not receive a tax deduction for your contribution. However, the good news is you will not be taxed on the amount distributed from your IRA either since the QCD goes directly to the charity and the full amount of the QCD qualifies as part of your mandatory required minimum distribution (RMD).
This option benefits taxpayers at all income levels since the distribution is not included in the individual’s taxable income, which may lessen the impact on other tax credits and deductions, including Medicare and Social Security. Please note that the qualifying charitable organization may not be a private foundation, DAF or supporting organization.