Tax Free Qualified Charitable Distribution from your IRA

Did you miss out last year? This year, use your Individual Retirement Account (IRA) to make a difference at Mass General. It’s easy and might save you taxes. A Qualified Charitable Distribution (QCD) is a tax wise way to make your gift to Mass General.

If you’re at least 70½ years old, you can make a gift from your IRA and, for federal tax purposes, exclude those funds from your gross income. While the 2019 SECURE Act made Required Minimum Distributions (RMDs) mandatory at age 72, you can still make a qualified charitable distribution (QCD) starting at 70½. Simply instruct your IRA administrator to directly transfer any size gift up to $100,000 to Mass General. Your gift is deducted from your RMD, if you take one. And it will make a real difference at Mass General.

How do you qualify?

  • You must be 70½ years old or older at the time of the gift
  • Your gift must go directly from your IRA to a qualified charity
  • Contact your IRA administrator for the proper forms and procedures to complete a QCD
  • Gifts cannot exceed $100,000 per taxpayer
  • Gifts must be made by Dec. 31, 2020 to take advantage this tax year

How do you make a gift with your IRA?

  • Contact the institution holding your IRA and inform them that you want to make a qualified charitable distribution from your IRA to Mass General
  • Complete the necessary paperwork to request the charitable distribution
  • Notify Mass General and let us know how you want your gift to be used

Contact the Planned Giving Team About a Tax Free IRA Distribution

Contact us today using the form on this page, or call Jessica Brodie in the Office of Planned Giving at 617.643.2220. Working together, we can be sure that your gift reflects your vision to make a lasting difference at the Massachusetts General Hospital.

Your giving makes great medicine possible. Thank you.