IRA Charitable Contribution:
If you are 72 or older, you can donate up to $111,000 per year directly from your IRA to the campaign. The parish will receive 100% of the gift through this Qualified Charitable Distribution (QCD) and the QCD will be excluded from your taxable income. This may be an opportune way to use your Required Minimum Distribution (RMD) to give to the campaign.
Gifting Appreciated Securities:
Making a gift of appreciated stock is one of the most advantageous forms of giving.
• Avoid capital gains tax on the stock’s appreciation.
• Deduct the fair market value of the donated stock, subject to charitable deduction limits.
• The charity receives the stock and can generally sell it without paying capital gains tax.
For example, if you donate stock that you purchased 12 months ago, you may be eligible to receive a charitable deduction and avoid the capital gains tax on the stock appreciation.
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