IRA Charitable Rollover
You may be looking for a way to make a big difference to help further the mission of your favorite charity. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue charitable works and benefit this year.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to a charitable organization
- May satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of your favorite charity
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA a charity.
- Your IRA funds will be directly transferred to the organization to help continue its important work.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact the charity if you wish for your gift to be used for a specific purpose.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.