IRA CHARITABLE ROLLOVER
The tax-free IRA Charitable Rollover is now permanent!
How it works:
People age 70 1/2 or older can make a gift of up to $100,000 by donating IRA assets to their favorite charity. If married, each spouse can transfer up to $100,000 from their IRA.
IRA Charitable Rollover gifts must be made directly from the IRA custodian to the charity.
IRA Charitable Rollover gifts count toward your annual mandatory distribution from your IRA and do not result in you recognizing taxable income on the distribution. As you recognize no income, they also do not generate a charitable income tax deduction.
If you have questions, please call Josephine Jabara, Director of Development & Community Affairs, at 313-866-5333, ext. 243, or email firstname.lastname@example.org. And, always consult your financial advisor.