The IRA charitable rollover has become one of the most popular ways to make gifts to charity, and many donors make IRA gifts in December as part of their year-end strategy to reduce taxes for the year. The availability of the rollover used to be up in the air from year to year—with Congress sometimes giving approval at the “stroke of midnight”—so donors had to wait until year-end to make a gift via the rollover. But now it is a permanent fixture in tax law, so you don’t have to wait until the 11th hour.
To take advantage of this wonderful giving opportunity, you must be at least 70½ years of age—the age at which you are required to begin taking distributions from your IRA (even if you don’t need the money). You can join other supporters who are benefiting us and avoiding paying income tax on the distribution by transferring up to $100,000 free of tax directly from your IRA.
Is this the right gift for you to make? Yes, if some or all of the following are true:
What are the requirements and restrictions for making this gift?
What steps should you take to make a gift?
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