A New Way to Give

Making the Most of Your Traditional IRA

Food is for consumption.  Fiber is for consumption.  But land…not so much.

When Ron Dolinsek saw that California’s agricultural land was being consumed at a rapid pace, he knew he had to take action.  An FFA kid who in college majored in agribusiness and went on to a successful career in the Farm Credit System, Ron has a unique perspective on farmland.  Couple that perspective with a drive to give back, and you get an incredibly dedicated board member.   

From humble beginnings, Ron and his wife Getta are always looking for greater ways to give back – and they recently found a new one.  Having reached the age of 70 ½ , Ron is now able to make Qualified Charitable Distributions from his Traditional IRA. Ron says the QCD provided “an opportunity for us to not only continue our giving, but to continue in an increased fashion.”  The QCD counts as part of Ron’s Required Minimum Distribution, and “those QCD distributions are done tax free.  That is on top of the standard deduction that we’re already able to claim.”  In essence, now that he has reached the required age of 70 ½, Ron is able to make a gift to CFT directly from his Traditional IRA, and the amount of that gift does not count as taxable income. Because the QCD reduces Ron’s taxable income, even though the Dolinseks are no longer itemizing their taxes, they have even been able to give more by passing along the QCD’s tax savings. 

It sounds complicated, but Ron found the process as simple as making a phone call to his advisor and filling out a form.  To learn more about Qualified Charitable Distributions – or other alternate ways to make a gift to protect farmland – visit www.cafarmtrust.org/giving.