Last year Congress gave your IRA a much-needed vacation. No one had to make a required minimum distribution from their IRAs. You may be one of those who enjoyed giving your required minimum distribution a year-long break.
Everyone loves a vacation, so why not give your RMD another year off?
Make a Required Minimum Distribution Work for You
Last year as part of special legislation, Congress said there would be no
RMDs in 2020.
This year, the RMD is back for everyone 72 years and older. Most people do not like taking money from their IRA. They have saved for years, and they would prefer to let it grow. Worse yet, when you take the RMD, you pay income tax on that distribution.
The IRA Charitable Rollover Is an Annual Vacation for Your IRA
While you still must distribute money from your IRA if you are 72 or older, you can do it in a tax-advantaged way. If you are age 70 1/2 or older, you can contact your IRA administrator and ask them to make the distribution
directly to our mission at Washington Masonic Charities.
When you do:
- If you and your spouse have your own IRA, both of you can use the IRA charitable rollover
We Can Help You Make Your IRA Work for You
When you use the IRA charitable rollover to support our mission, you have peace of mind. It is like giving yourself a vacation!
This information is not intended as tax, legal or financial advice. Gift results may vary. Consult your personal financial advisor for information specific to your situation. The names and images shown here are representative of typical donors and may or may not be actual donors to the organization. Under federal rules your benefits may be different from this example. Please contact us for your specific benefits. Copyright © 2021 Crescendo Interactive, Inc. Used by permission.