Make a Tax-Free Charitable Gift from you IRA
Special Opportunity for IRA Gifts Available But Only Through December 31, 2009
This legislation offers a welcome incentive to donors who want to use money in their IRAs to make current charitable gifts.
- This bill allows anyone who has already reached the age of 70.5 to directly transfer any amount up to $100,000 from a traditional or Roth IRA to make a current charitable gift.
- A direct transfer "rollover" avoids withdrawing funds from your IRA that must be treated as taxable income. You need only instruct your plan administrator to make a direct rollover to the Seattle Art Museum or another charitable institution. You may not receive any benefits for a rollover gift from your IRA.
If this opportunity interests you, more information is available here:
http://www.irs.gov/newsroom/article/0,,id=203313,00.html