Qualified Charitable Distribution Gifts (IRA)
A qualified charitable distribution (QCD) is a distribution of funds from your IRA (other than a SEP or SIMPLE IRA) directly to a qualified charitable organization such as The TEP Foundation, Inc. Since the gift goes directly to the charity without passing through your hands the dollar amount of the gift may be excluded from your taxable income up to a maximum of $100,000 annually.
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Income Tax Today!
TRADITIONAL IRA
You may contribute from your Traditional IRA at 70 1/2 or older up to $100,000/year tax-free. Please consult with a licensed tax professional before proceeding.
ROTH IRA
You may contribute from your Roth IRA at 70 1/2 or older up to $100,000/year tax-free. Please consult with a licensed tax professional before proceeding.
QUALIFIED CHARITABLE DISTRIBUTION GIFTS (QCD)
For those 70 1/2 or older are allowed to make Qualified Charitable Distribution Gifts to The TEP Foundation, Inc. up to $100,000 annually without incurring Federal Income Tax. Business SEP's or SIMPLE IRA's do not qualify for this benefit. IRS Federal Tax-Code permits such deduction through the Protecting Americans from Tax Hikes (PATH) Act of 2015. Please fill out sample letter to send on your behalf. Should you have any questions please send us an email!
Contribute from your Traditional IRA or ROTH IRA.
