Qualified Charitable Distributions

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Qualified Charitable Distributions


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If you are at least 70½ years old, you are eligible in 2024 to make Qualified Charitable Distributions (QCDs) from your IRA(s) of up to $105,000 in outright gifts annually, including a one-time-only QCD of up to $53,000 to create a life income gift. QCDs count toward required minimum distributions, and QCDs used to make outright gifts are excluded from federal taxable income entirely (payments you receive from a life income gift will be taxed as ordinary income when received).

You may direct a QCD to benefit the University of Virginia school(s) or program(s) of your choice, and you can designate the distribution for unrestricted use (to meet greatest current needs) or for other charitable purposes you select, such as financial aid or faculty support. If you want to restrict your QCD to support a particular purpose, please contact the Office of Gift Planning so that UVA can review your proposed use and confirm we can carry out your wishes as you intend.