The IRA Gift (QCD)
Here is a tax-smart way to make an impact to Harvard Graduate School of Design using your traditional or Roth IRA. The IRA Qualified Charitable Distribution (QCD) is a great way to make a tax-free gift to Harvard Graduate School of Design and satisfy your Required Minimum Distribution (RMD). If you are not required to take an RMD but no longer itemize your deductions, then a QCD may be right for you as well.
How Do I Qualify?
The IRA QCD offers multiple benefits for making gifts from your traditional or Roth IRA.
- You must be 70 ½ years or older at the time of the gift.
- Gifts must go directly from your IRA to Harvard Graduate School of Design.
- Gifts must come from a traditional IRA or Roth IRA account.
- Gifts cannot exceed $100,000 per donor per year.
Benefits of an IRA QCD Gift
- If you don’t itemize deductions and are not yet required to take your RMD, a QCD offers all of the benefits of an itemized income tax charitable deduction
- If you are age 72 or older and must take your RMD, a QCD can satisfy your RMD without increasing your income taxes.
- You may direct your gift to a program or area of your choice.
- It is a wonderful way to create an immediate impact on Harvard Graduate School of Design.
How can I make an IRA Qualified Charitable Distribution (QCD)?
Contact your IRA administrator for their QCD distribution form and information on the procedure to make such a gift.