There are two easy ways you can use your individual retirement account (IRA) to support animals.
Making a Qualified Charitable Distribution (QCD) From Your IRA
If you are 70½ or older and have an IRA, you may be able to help animals while lowering your taxes. And if you are 72 or older, making a donation from your IRA to PETA can also help fulfill your required minimum distribution.
Benefits of Making a QCD From Your IRA
Transferring funds from an IRA to PETA through a QCD is a simple yet effective way to make a powerful difference for animals right now. These are some of the benefits:
- Your donation can help you save on taxes. When you take funds from your IRA, it counts as taxable income. But QCDs are excluded from taxable income, making them an attractive, tax-efficient way to make a charitable gift, particularly if you claim the standard deduction on your tax return.
- Your gift can help you fulfill your required minimum distribution. After you turn 72, you must distribute funds annually from your IRA or you may be penalized. Your QCD can help fulfill your required minimum while making a world of difference for animals.
How to Make a QCD Gift From Your IRA
Thanks to our partnership with FreeWill, you can make your QCD gift quickly and hassle-free through our online forms. You can also choose to print out and complete blank forms by hand or to make the gift by phone directly through your financial custodian.
Begin a QCD gift now, or access your blank QCD form.
If you have any questions, please contact:
Tim Enstice
Vice President of Legacy Gifts
757-962-8213
Legacy@peta.org
Naming PETA as a Beneficiary of Your IRA Account
Did you know that you can also name PETA as a beneficiary of your IRA account so that the remaining assets (or a portion that you designate) can be distributed to support our vital work for animals for years to come? To learn more or to notify us of your gift, please contact Tim Enstice at Legacy@peta.org.
Learn about other ways you can leave a legacy for animals and request free resources.
“PETA is in the forefront of putting an end to cruelty to animals, which is why I chose to support PETA through a qualified charitable distribution (QCD) from my IRA. The process is easy, and donating helps me meet my minimum distribution requirements. I also appreciate the tax benefits. The fight to end animal cruelty is far from over and to make sure that I help in the continuation of this fight I have also stipulated that part of my estate be distributed to PETA after I am gone. I am truly dedicated to the elimination of animal cruelty in the present as well as the future.”
—Al Smith, PETA Augustus Club and Vanguard Society member
The post Use Your Individual Retirement Account to Support PETA and Receive Tax Benefits appeared first on PETA.