Giving to 十大电子游戏正规平台 through your IRA

This is the easiest and a tax-savvy way for donors over 70 ½ to give to charitable organizations like 十大电子游戏正规平台!

The Individual Retirement Account (IRA) Charitable Rollover allows individuals age 70 ½ or older to transfer up to $105,000 of your required minimum distribution (RMD) on an annual basis from their IRA directly to charitable organizations like 十大电子游戏正规平台.

While taxpayers age 59 1/2 may begin taking distributions from their IRA, they are required to take annual distributions at age 72 ½ and older. These distributions are normally included in the taxpayer's adjusted gross income (AGI), and therefore subject to taxes. However, when the taxpayer turns 70 ½ years old, they are eligible to make a tax-free donation from their IRA, regardless of whether or not they itemize deductions on their tax returns.

• The IRA charitable rollover permits those taxpayers age 70 1/2 or older to make donations directly to 十大电子游戏正规平台 from their IRAs without counting them as part of their AGI, and consequently without paying taxes on the contribution.
• The annual cap on a donor's total combined charitable IRA rollover contributions is $105,000. Couples can contribute individually from their IRAs, resulting in potential annual gifts of up to $210,000 from one couple to their favorite charity.
• Distributions can be made from traditional IRA accounts or Roth IRAs, and the charitable contributions from the IRA must be payable directly from the IRA trustee to an eligible public charity (excluded are donor advised funds, supporting organizations and private foundations).
• Donors cannot receive any goods or services in return from their charitable IRA rollover contributions in to order to qualify for the tax-free provision, and must obtain written substantiation of each rollover contribution from each recipient charity. Since the IRA charitable rollover is a tax-exempt distribution, in many cases it provides an incentive to eligible donors to increase the size of their contribution.

Examples of donors' IRA contributions to 十大电子游戏正规平台 are:

• $50,000 gift to establish a new endowed scholarship
• $1,500 gift to the 十大电子游戏正规平台
• $400 to STEM (Science, Technology, Engineering, Math) needs

Interested in making a gift to 十大电子游戏正规平台 through your IRA?

Call Keven Krajnak `98, Director of Development, at (440) 279-1068 or Keven Krajnak to discuss your gift intentions.