IRA Charitable Rollover

The IRA Charitable Rollover is an attractive option for IRA owners who have reached age 70 ½.

Ordinarily, an IRA owner must report withdrawals as income and pay income tax on them. The charitable IRA rollover provisions allow IRA owners over age 70 ½ to direct gifts from their IRAs to qualified charities—gifts that would count toward the IRA owner’s minimum distribution requirement (MRD) and not be reportable as taxable income (up to $100,000). Direct gifts to charity from the IRA will not qualify for a charitable deduction.

The result is a tax break for those who do not itemize deductions and for those whose charitable gifts may exceed the deduction limits.

Check with your tax advisors to see if this is a good option for you.

Download Our Catalog

fall/winter 2019