Donate from your IRA using a qualified charitable distribution (QCD).
A QCD is a transfer of funds from your IRA made directly to a qualified charity. Traditional IRA account holders who were at least 70 ½ on the date of the transfer to the charity qualify for this tax advantaged opportunity.
Your QCD can satisfy all or part of the amount of your required minimum distribution (RMD) from your IRA. For example, if your RMD is $20,000 and you made a $7,000 QCD, you would have to withdraw $13,000 as income from your IRA to satisfy your RMD.
Even if you have satisfied your RMD for the year, a QCD is the most tax efficient ways to donate.
Zimbabwe Mission Partnership
1151 Eagle Drive, #185 Loveland, CO 80537
ZMP is a 501(c )(3) Tax ID # 27-4780596
For questions, please contact our Treasurer Sarah Mato at: smatojr@yahoo.com.
QCD Qualifying Requirements:
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You must be 70 ½ or older as of the date of your transfer.
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The maximum annual amount that can qualify for a QCD is $108,000(2025) however if married, each spouse can donate $108,000(2025) from his or her IRA.
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For a QCD to count towards your current year’s RMD, the funds must come out of your IRA by your RMD deadline, generally December 31 and transfer(s) must be directly from your IRA institution to the charity.
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The QCD must be from a traditional IRA, inherited IRA, inactive SEP IRA or inactive Simple IRA.
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The charity selected must be qualified. Qualifying charities include 501(c)(3) organizations and houses of worship.
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The QCD amount is not considered income and therefore not taxed for Federal Income Tax purposes.
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State income rules may vary so please check with your state on any tax implications.
Please review the link below to the IRS: