Make a Difference & Reduce Taxable Income With IRA Charitable Rollovers

Those over 70 1/2 years of age can use their IRA’s required minimum distribution (RMD) to make a qualified charitable distribution. This is often the most tax-efficient method of making a current donation due to IRA distributions being taxed as ordinary income when received by the account owner.

Individuals age 70½ and older can “rollover” up to $100,000 per year to charity. You do not recognize the transfer as taxable income on your tax return, but the qualified distribution does count toward your required minimum distribution for the year.

Interested in making a qualified charitable distribution? Reach out to info@powerforparkinsons.org for more instructions!