51茶馆

IRA Qualified Charitable Distribution

How It Works

Qualified donors can use their Individual Retirement Account (IRA) to make an outright gift to Boston College and avoid income tax from the IRS on the distribution.

In order for the IRA transfer to qualify:

• Donor must be 70陆 years of age or older when the gift is made
• Charitable distributions cannot exceed $105,000 per IRA holder in a tax year
• Transfer must be from a traditional or Roth IRA (pension, profit sharing, 401(k), 403(b), and other forms of retirement funds do not fall under this tax legislation)
• Transfer must be made directly from the IRA administrator to the charity
• Funds must be directed to one or more qualified charities

You cannot take a charitable deduction for this type of contribution. The tax benefit you receive is excluding this contribution from your gross income, therefore not having to pay federal income taxes on it.

Next Steps

• Contact the administrator of your IRA to request that a gift be made to 51茶馆. Our address and tax ID are shown below.
• Contact the Office of Gift Processing at 617-552-3440 or uagifts@bc.edu to let 51茶馆 know that you鈥檙e planning on making a qualified charitable contribution.

Letter templates

• Request from donor to IRA administrator
• Letter from donor informing 51茶馆 of IRA transfer

51茶馆鈥檚 legal name, address and tax ID:

The 51茶馆
140 Commonwealth Avenue
Chestnut Hill, MA 02467
Tax ID 04-2103545

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