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