Qualified Charitable Distribution
A Special Opportunity for Those 70½ Years Old and Older
If you’re 70½ or older, you can donate any amount up to $111,000 directly from your Individual Retirement Account (IRA) to a qualified charity like PBS Utah without it counting as taxable income. This is known as a “Qualified Charitable Distribution” or an “IRA Charitable Rollover”. Since the donation is a direct transfer from an IRA to a charity, it bypasses your personal income. It can lower your annual income level and possibly reduce your Medicare premiums and taxes on Social Security income. PBS Utah supporters interested in making a charitable rollover are encouraged to consult with their financial advisers.
The process is simple. You will need to contact your retirement plan administrator and request a “qualified charitable distribution” be made directly to PBS Utah, which is a department of the University of Utah.
Legal name: PBS Utah
Address: 101 South Wasatch Drive, Salt Lake City, Utah 84112
Federal Tax ID: 87-6000525
Please notify us when you make your donation and include your name, the name of the financial institution making the gift on your behalf,, and the gift amount so we can provide the appropriate acknowledgment. You may notify us by contacting the PBS Utah Donor Services team at membership@pbsutah.org or 801-581-3284.
FAQ
Here are FAQs that can help you evaluate the benefits of making a gift from your IRA:
What is a Qualified Charitable Distribution (QCD)?
A Qualified Charitable Distribution is a way to give directly from your IRA to a qualified nonprofit organization, such as PBS Utah, without counting the distribution as taxable income.
Who can make a QCD?
If you are 70½ or older and have a traditional or Roth IRA, you may be eligible to make a Qualified Charitable Distribution. QCDs must be made directly from an IRA and are not available from employer retirement plans like 401(k)s.
How can a ‘QCD’ benefit me?
A QCD may:
- Count toward your Required Minimum Distribution (RMD) if you are age 73 or older
- Reduce your taxable income, which may help manage taxes on Social Security or Medicare premiums
- Allow you to support PBS Utah in a tax-wise way without increasing your adjusted gross income
How much can I give through a QCD?
You may give up to $111,000 per year through a Qualified Charitable Distribution. Couples with separate IRAs may each make a QCD up to this amount.
Will I receive a tax deduction for a QCD?
Because QCDs are excluded from taxable income, they are not eligible for a charitable deduction. Many donors find this tax advantage more beneficial than claiming a deduction.
Are there any restrictions on the use of a QCD?
Yes. Although a charitable deduction is not allowed, the entire distribution to PBS Utah must meet the same requirements as a fully deductible charitable contribution. As such, no benefits can be received in exchange for the rollover gift. For example, the gift cannot be used to purchase tickets to special events or to fund a life-income arrangement such as a charitable gift annuity.
