Charitable IRA Rollover

Charitable IRA Rollover

Individuals may make direct charitable distributions of up to $100,000 from their traditional, rollover, or Roth IRAs without including such distributions in their gross income if they meet the following requirements:

• A donor must be at least 70 1/2 years of age at the time of the transfer
• The funds must pass directly from the donor’s IRA custodian to WCMS

This provision only applies to IRAs, Roth IRAs, inactive SEPs, and inactive SIMPLE IRAs.

The following account types are not eligible: active SEPs, active SIMPLE IRAs, 403(b)s, 401(k)s, and pension plans.

Outright IRA gifts

A charitable gift may satisfy a donor’s IRA required minimum distribution for the year. Since the amount of the direct charitable distribution can be excluded from the donor’s gross income, there is no federal income tax deduction available for such gifts.

For questions about how to make a gift from your IRA, please contact your fund administrator directly. If you have any further questions, please email our Development Staff or call 781-721-2950. 

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