QCD and RMD Distribution Donations

Since 2007, National Mill Dog Rescue has freed nearly 20,000 dogs from the commercial dog breeding industry. Our dogs are true survivors, and we are often their only voice and path into a loving home. You, our donors, are their only hope for our continued success.  

Did you know that you can gift your Required Minimum Distribution (RMD), Appreciated Stock, and Qualified Charitable Distributions (QCDs) to National Mill Dog Rescue? When you gift stocks and other securities directly to a charity, you make an outsized impact without taking money directly out of your bank account. Plus, neither you nor the charity will be taxed on the gains for appreciated assets you donate.  That’s a triple-win! 

*Always check with your tax professional for rules and laws related to any donations.

Qualified Charitable Distribution (QCD)

A Qualified Charitable Distribution (or QCD) is when individuals take distributions from their IRAs, and it usually counts as income for tax purposes. QCDs, also called IRA Charitable Rollovers, is an exception. Individuals 70 ½ years of age or older can distribute up to $100,000 each year (the amount that donors can give to charity via QCD will increase by a percentage in 2024 to account for inflation) from their IRAs to their favorite 501(c)(3) organizations without counting the distribution as income. 

For more additional information on QCDs, please visit the IRS website.

*Always check with your tax professional for rules and laws related to any donations.

Are qualified charitable distributions for you?

Making a Qualified Charitable Distribution (QCD) can be a great option to lower your income taxes while doing good for others. If you’re subject to a Required Minimum Distributions, QCDs count toward your Required Minimum Distribution, effectively lower your adjusted gross income and often bring about many tax benefits. 

Required Minimum Distribution

The Required Minimum Distribution (RMD) is the smallest amount individuals must distribute from their IRA each year. As of January 1, 2023, the age to start taking RMDs increased from age 72 to age 73, with the exception of donors who turned 72 before January 1, 2023. This number will increase to age 75 in 2033. The penalty for missing an RMD is 25% of the amount that was supposed to have been distributed.

If you’re 70.5 or older, but you don’t have an RMD yet, you can still make a QCD. Doing so can lower your adjusted gross income and effectively reduce your income taxes.

To learn more, feel free to check out the IRS website for additional useful information on RMDs. 

Stock Giving

Gifting stock is a smart way to give. A donation of appreciated stock can be up to 20% more valuable than selling and donating the cash, allowing you to make a bigger impact and save on your taxes.

The benefits of donating stock to charity include:

  • Avoid capital gains tax
  • Gifting stock avoids federal capital gains tax and most donors can also claim an income tax deduction for the stock’s full market value (state & local income tax deductions may also be available in some areas).
  • When you give appreciated stocks directly to charity, your gift can be up to 20% larger because you avoid the taxes you’d incur from selling and donating the cash. This means more money going to the work that you support.   *Always check with your tax professional for rules and laws related to any donations. 

Please let us know by email saraht@nmdr.org or call 719-683-3334 when you have made a stock donation, and provide us with the date of transer, stock name, and brokerage. We are not notified when stock is transferred/donated into our brokerage account so it is important that we have your information so we can watch for the donation, capture it in our donor system, and send you an acknowledgement.  

Thank you for your generosity and considering National Mill Dog Rescue for your year-end giving.

*Always check with your tax professional for rules and laws related to any donations.

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