Qualified Charitable Distributions

A tax-wise gift from your individual retirement account (IRA)

Generally, individuals age 70½ and older can transfer up to $105,000 directly from their individual retirement account to support public charities such as the University of Montana in calendar year 2024 without paying federal income tax on the withdrawal.

How it Works

  • You must be age 70½ or older at the time the gift is made.
  • For those age 73 and older, Qualified Charitable Distributions count toward satisfying your required minimum distribution (RMD) for the year of the gift.
  • The 2024 limit for giving in this way is $105,000 per individual. For couples, each spouse may give up to $105,000 from their respective IRAs.
  • Your IRA administrator must transfer the distribution directly to the charity. It is important not to withdraw funds before making the gift.
  • Qualified Charitable Distributions are not counted as income for federal income tax purposes.
  • Beginning in 2024, Qualified Charitable Distribution limits will be indexed for inflation each year.

Contact Us to Learn More

Alison SchultzContact Senior Director of Planned Giving, Alison Schultz at 406-243-5121 or alison.schultz@supportum.org with any questions about making a Qualified Charitable Distribution to support the University of Montana.

The Office of Planned Giving provides information about the benefits of planned gifts and does not provide any legal, financial or tax advice. We encourage you to talk with your advisors who are familiar with your specific situation to determine the benefits to you.