IRA Charitable Rollover

If you are 70½ years old or older, you can take advantage of a simple way to benefit Austin PBS and receive tax benefits in return. You can give any amount up to $100,000 per year from your traditional Individual Retirement Account or Roth IRA directly to Austin PBS without having to pay income taxes on the money. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.

This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.

To qualify:

• You must be 70½ or older at the time of the gift. If you reached the age of 70½ on or before Dec. 31, 2019, you can use your gift to satisfy all or part of your required minimum distribution (RMD) for the year. If you turn 70½ on or after Jan. 1, 2020, you can use your gift to satisfy all or part of your required minimum distribution starting at the age of 72. (Note: The RMD requirement has been waived for 2020, per the CARES Act signed into law on March 27, 2020.

• You must make a gift directly from your IRA to Austin PBS. Gifts from your IRA to donor-advised funds or life-income vehicles such as charitable gift annuities or charitable remainder trusts do not qualify.

• Your total annual IRA Charitable Rollover gift(s) cannot exceed $100,000 in the calendar year of the gift.

• You must make your gift by December 31 for the gift to qualify this year.

• You cannot receive any goods or services in exchange for your IRA charitable rollover.

Making Your Gift is Easy

Before December 31 of this year:

• Contact your IRA custodian/administrator.
• Ask that your distribution be a charitable rollover to Capital of Texas Public Telecommunications Council (dba Austin PBS, KLRU-TV).
• To ensure that we can promptly and accurately credit your gift, ask them to include your name, address and how you would like the gift allocated in the transfer.

Distributions can be mailed to:
Kaye Kelley
Director, Member Services
P.O. Box 143626
Austin PBS, KLRU-TV
Austin, TX 78714

As always, we encourage you to seek the advice of professional advisors to understand how retirement funds may be used for charitable giving for your situation.