IRA charitable distribution an option for giving

Are you facing a required minimum distribution from your traditional IRA? A qualified charitable distribution could help you reduce your taxable income.

With a qualified charitable distribution, you can exclude from taxable income any IRA funds directly transferred to a qualified public charity. (San Isabel Land Protection Trust is 501(c)(3) charitable organization.)

 

 

There are limitations:

  • You must be 70½ years of age when the gift is transferred.

  • Total charitable distributions can’t exceed $100,000 per year, per IRA owner.

  • Distributions must be made directly from your IRA to a qualified charity.

  • The gifts cannot be used to establish a charitable gift annuity or fund a charitable remainder trust).

  • You cannot make a qualified charitable distribution from a SEP-IRA or SIMPLE IRA.

Talk to your tax or financial advisor about whether a qualified charitable distribution is right for you.

Janet Smith

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