Page 11 - Wilson Society Six Strategies - Spring 2023 | University of Rochester

Qualified Charitable Distributions: Tax-Free Gifts
from Retirement Accounts

If you are age 70½ years or older, you are eligible to make a direct
gift, known as a Qualified Charitable Distribution (QCD), to the
University of Rochester tax-free.

• You must transfer funds directly from your IRA
• A gift “counts” toward your required minimum
distribution (RMD)
• Gifts are limited to $100,000 annually per person (a married
couple with separate IRAs could give up to $200,000 a year)
• Distributions can be made only from a traditional or Roth IRA
• A transfer is tax-free and is not included in your adjusted
gross income, and thus no charitable income tax
deduction is allowed
• Gifts must be outright—transfers to donor-advised funds,
supporting organizations, or private foundations do not qualify

Secure Act 2.0: The Legacy IRA

Qualified Charitable Distributions (QCDs) may now be used to fund a
life-income gift with certain limitations.

• One-time, one tax year, and limited to $50,000
• No charitable deduction

• Income is ordinary income
• Beneficiaries must be IRA owner or owner and spouse

Learn more about this giving opportunity that became law January 1,
2023 by visitng uofr.us/giftannuityrates2023