IRA Charitable Gift
Your IRA may provide an efficient and tax-beneficial way to donate to Peconic Land Trust.
Qualified Charitable Distribution (QCD) allows individuals aged 70½ and older to make tax-free donations directly from their IRA to a qualified charity.
Key Rules and Limitations for 2025:
- Age: You must be 70½ or older when the distribution is made.
- Annual Limit: The maximum amount you can donate as a QCD in 2025 is $108,000 per individual. This limit is indexed for inflation.
- Direct Transfer: The donation must be transferred directly from your IRA custodian to the qualified charity.
- Eligible IRAs: QCDs can be made from Traditional IRAs, Rollover IRAs, Inherited IRAs, and inactive SEP or SIMPLE IRAs.
- Qualified Charities: The recipient must be a qualified 501(c)(3) organization.
- RMDs: QCDs can be used to satisfy all or part of your Required Minimum Distribution (RMD) if you are age 73 or older. However, the QCD needs to be coordinated with the RMD timing to maximize the tax benefit. It's recommended to make the QCD before taking any RMD for the year.
- No Tax Deduction: While the QCD amount is not included in your taxable income, you cannot claim it as a charitable tax deduction.
For more information please contact Elisa Ruoff, Vice President of Development at ERuoff@PeconicLantTrust.org,
The Trust's efforts to keep "real agriculture" here on the east end is one of the reasons I decided to add the Trust to my will. Once I made my legacy decision, it was easy to also donate through a required minimum distribution from my IRA, while I’m alive. It helps me eliminate my tax liability and it makes me feel good knowing that the Trust and my community will benefit.
Glorian Berk
Staff
Lori Mikula
Director of Finance
lmikula@peconiclandtrust.org