IRA Charitable Rollover Made Permenant
IRA Charitable Rollover Made Permanent
Faith. Hope. Charity. The greatest of these is Charity!
Congress has made permanent the opportunity to make a charitable gift from an IRA plan. If you are age 70 ½ or older, you can make a direct transfer of up to $100,000 annually from your IRA Account to Washington Masonic Charities – tax free! There is no easier way to make an immediate impact for providing support for Masons, their families and the general public through our network of Masonic Lodges…allowing you to see the difference your donation is making today, AND pay less in taxes.
How it works:
The gift must be transferred directly from your IRA account to Washington Masonic Charities, a 501(c)3 public charity;
You must be at least 70 ½ years old;
The contribution must be an outright gift;
You can transfer up to $100,000 per year – it can be distributed to multiple qualified charities;
If you haven’t already taken your Required Minimum Distribution in a given year, a qualifying distributable gift can count toward meeting this requirement;
Distributions from 401(k) and 403(b) accounts or other employer-sponsored retirement plans do not qualify;
Your IRA transfer generates neither taxable income nor a tax deduction, so you benefit even if you don’t itemize your taxes.
Consult your tax professional as to how this can benefit your situation.
For more information, please contact Ken Gibson, Executive Director, at 844-288-3531, or firstname.lastname@example.org.
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