Tax-Advantaged Giving Ideas to Support the Library
Many of our donors have taken advantage of the IRA qualified charitable distribution (QCD). This is a great way to avoid taxation on IRA distributions and make a significant philanthropic gift in support of the Library.
- Donors age 70½ or older may make a gift of any amount, up to $100,000 per individual ($200,000 for couples with individual IRA accounts), from an IRA without paying income tax on the donated amount.
- For donors who have a required minimum distribution (RMD), making a gift directly from an IRA to The UCLA Foundation will satisfy that requirement.
- The QCD can only be made from IRAs, not from company plans.
- Funds should be transferred directly from the donor’s financial institution to The UCLA Foundation.
- Donors who have personalized checks for their IRA account should contact UCLA’s Office of Gift Planning for specific information to ensure their wishes are met.
- Since January 2023: Taxpayers age 70½ and older can now make a one-time $50,000 distribution directly from an IRA to fund a charitable gift annuity or charitable remainder trust and treat this as a qualified charitable distribution. Special conditions and rules apply. Please contact UCLA’s Office of Gift Planning for details.