Give to Gift of Jazz from your IRA

If you are 72 or older, IRS rules require you to take required minimum distributions (RMD) from your tax-deferred retirement accounts. If you intend to make a gift to Gift of Jazz, consider making it directly from your IRA. Your Qualified Charitable Distribution (QCD) counts toward your required minimum distribution, but is not included in your income. You may give up to $100,000 in QCDs each year.

BENEFITS OF A QUALIFIED CHARITABLE DISTRIBUTION

• You can transfer up to $100,000 that would otherwise be subject to income tax and could affect the taxation of your social security, your capital gains rate and tax on Medicare
• Avoids the deduction limitations for charitable gifts
• Counts toward your Required Minimum Distribution
• Available to anyone with an IRA who is over 701⁄2. Note that there are limitations if you continue to make contributions to an IRA
• Reduce or eliminate eventual income tax burden if left to individual heirs

HOW A QUALIFIED CHARITABLE DISTRIBUTION WORKS

1. Contact your IRA plan administrator or broker to learn about the mechanism for making a QCD.

2. Your IRA will then issue you a check. Make this out to “Gift of Jazz” and include our Federal Tax ID #84-1305079 on the check

3. The check will be mailed to you. From there, you will need to mail the check to:

Gift of Jazz
P.O. Box 9683
Denver, CO 80209

If you have any questions about a Qualified Charitable Distribution, please contact us. We would be happy to work with you and your advisors to answer any question. If you have any questions regarding tax implications of a QCD, please consult a qualified tax advisor.