Gifts From Your IRA
Article Type: Ask a Planner
Q: Should I give to my church from my IRA?
A: If you are 70 ½ or older, the now-permanent IRA charitable rollover is a smart and powerful way to give to your local church.
This special provision allows you to make tax-free distributions from your individual retirement accounts, up to a maximum of $100,000 per year. Gifts made through the IRA charitable rollover count toward your annual required minimum distribution, and you’ll reduce your taxable income, whether or not you itemize.
Q: How do I make a gift to my church through an IRA charitable rollover?
A: Simply contact your IRA plan administrator, and inform them you want to make a charitable gift directly to your church.
Have Questions?
Schedule your complimentary, confidential conversation with a Barnabas Foundation planner by calling 888.448.3040 or email info@BarnabasFoundation.com.