A giving opportunity for those over 70½: Federal tax legislation allows you to make tax-free distributions from your IRA directly to a charity, such as our church. This gift must be completed by December 31, 2019, to claim the benefit for this tax year and may be used for your annual stewardship gift, capital campaign gift or a planned gift.
Some of the details of the IRA Rollover:
- Donors must be age 70½ or older at the time of transfer.
- Distributions must be made directly from the trustee to the qualified charity, our church.
- This qualifies toward the IRA owner’s Required Minimum Distribution.
- Distributions are not included in the owner’s adjusted gross income.
- No taxes are paid on qualified charitable distributions.
If you are 70½ and older, please consider how this gift would fit into your overall financial plans and your eligibility for tax benefits.
Thank you for planning your generosity!
For more information, please contact Malinda Kirchner, (501) 227-0000 or firstname.lastname@example.org,
or your qualified professional adviser.