Charitable IRA Rollover Law Extended
The IRA Charitable rollover was reinstated through 2011.

 

Charitable IRA Rollover Law Extended

 

The IRA Charitable rollover was reinstated through 2011

 

This provision allows donors aged 70 ½ years and older to donate up to $100,000 from their Individual Retirement Accounts (IRAs) to a charity. 

A charitable transfer from your IRA to Desert Palms Presbyterian Church prior to December 31, can count toward your 2011 donation. You can also give it in 2011 as a prepaid donation for your 2012 gift. And, because the transfer is to a tax-exempt organization, you will pay no income taxes on the amount you donate. The gift must be made directly from the IRA to the charity. 

Be sure to contact your tax professional and your IRA administrator in advance if you are considering a gift under this law.  

 

Last Published: November 8, 2011 12:39 PM
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