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You are at: Planned Giving > For Advisors > Article of Month
With PLANNED GIVING, you can provide long-lasting support for the University of Indianapolis while enjoying financial benefits for yourself
Planned Giving
You are at: Planned Giving > For Advisors > Article of Month
Example
Sally is 80 years old and wishes to take advantage of using her IRA to fund a one-life CGA in 2024. Sally decides to max out the full contribution limit of $53,000 in exchange for a CGA with her favorite charity. As such, Sally will have a remaining available QCD limit of $52,000 that she can transfer tax-free to charity as an outright QCD gift for 2024.
Example
Bill is 75 years old and wants to use a QCD to fund a CGA for himself and his wife in 2024. In January 2024, Bill decides to take $20,000 from his IRA to fund a CGA. In September 2024, Bill decides to fund an additional CGA using a QCD in exchange for a two-life CGA for both him and his wife. Because Bill already used $20,000 from his IRA to create the first CGA, Bill is now able to use his remaining available QCD amount of $33,000 to fund the two-life CGA. Bill was able to complete both CGAs in 2024 and did not exceed the $53,000 QCD limit in creating both CGAs.
Charitable Gifts of Commercial Annuities
Substantiation of Charitable Gifts of Art, Part Two
Substantiation of Charitable Gifts of Art Part One
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PRIVACY STATEMENT
This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice.
For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.