IRA Charitable Rollover
The IRA Charitable Rollover allows taxpayers age 70 ½ or older to transfer up to $100,000 annually from their IRA accounts directly to charity without first having to recognize the distribution as income.
How It Works
- If you are 70½ or older, you can give up to $100,000 directly from your IRA to charities such as St. Ignatius.
- The transfer generates neither taxable income nor a tax deduction, so you still benefit even if you do not itemize your tax deductions.
- If you have not taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
- The transfer may be made in addition to any other charitable giving you have planned.
- If you made a gift to a qualified charity of up to $100,000 directly from your IRA in 2017, your gift will qualify under the law.
- The gift needs to be made by Dec. 31, 2017, if you want your gift to qualify this year.
If you have already made a qualifying gift in 2017, contact your advisor to make sure your gift is properly reported on your 2017 income tax returns. If you are interested in this unique opportunity to help further our mission, or if you have any questions, please feel free to contact me.
Co-Director of Annual Giving
415-731-7500 ext. 5577