The IRA charitable rollover (QCD) offers multiple benefits for making gifts from your traditional or Roth IRA.

• You must be 70 ½ years or older at the time of the gift.
• Gifts must go directly from your IRA to NMCRS.
• Gifts must come from a traditional IRA or Roth IRA account.
• For 2026, total QCD gifts cannot exceed $111,000 per donor.

• If you don’t itemize deductions and are not yet required to take your RMD, a QCD offers all of the benefits of an itemized income tax charitable deduction.
• If you are age 73 or older and must take your RMD, a QCD can satisfy your RMD without increasing your income taxes.
• It is a wonderful way to create an immediate impact on NMCRS.

Under a new law effective in 2023, some donors can make a QCD in exchange for a charitable gift annuity. There are some rules and limitations:

• You can exercise this option only once during your lifetime.
• There is an aggregate limit of $55,000.
• The entire payment you receive from your charitable gift annuity will be subject to income tax.
• You can include your spouse as a recipient of the annuity payment.
• There is no income tax deduction for this contribution, although there is no tax on the QCD either.