You give to make an impact on organizations like CMU that matter to you, but thanks to a qualified charitable distribution, your giving can have positive tax implications for you as well!

If you are 70 1/2 years or older, by donating directly from your IRA account, you can transfer up to $100,000 a year without paying tax on the transaction. It also reduces the amount you must take in required distributions.

Giving in this manner also helps reduce your adjusted gross income, which determines how much of the Social Security benefit is subject to income tax and the amount of Medicare premiums in the following year.

Be sure to talk with your tax advisor to understand how a qualified charitable distribution can affect your individual tax situation.

Contact the Office of Gift Planning at 412-268-5346 or askjoebull@andrew.cmu.edu for more information.