IRA Charitable Rollover
You can support the IPA Foundation through an Individual Retirement Account!
Advantages to you:
- The IRA Charitable
Do you qualify for this opportunity?
- To give charitably from your IRA you must be aged 70 1/2 or older. (The required beginning date for mandatory distributions increased from age 70 1/2 to 72. However, the minimum age for IRA Charitable rollovers remains at 70 1/2, meaning you can give charitably from your IRA before you are required to make distributions.)
- Your total combined charitable IRA rollover contribution cannot exceed $100,000 in any one year. (Married couples may be able to contribute up to $200,000.)
- Charitable contributions from an IRA must go directly to a public charity that is not a supporting organization. Contributions to donor-advised funds and private foundations, except in narrow circumstances, do not qualify for tax-free IRA rollover contributions.
- Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for the tax-free treatment. Distribution must be made directly from the IRA trustee payable to the IPA Foundation.
- You cannot receive any goods or services in return for your charitable IRA rollover contribution in order to qualify for tax-free treatment.