The IRA Charitable Rollover has been extended through December 31, 2013. This legislation enables you to make a gift to charity from your IRA and not include the amount distributed in your taxable income.
If you will be taking a required annual distribution from your IRA account before December 31, 2013 and you are 70 ½, you could transfer the donation from your account to a qualified charitable organization such as Pacific Dugoni School of Dentistry.
In order for the transfer to qualify:
If I made a charitable IRA rollover gift in other tax years, can I do this again for the 2013 tax year?
Yes. Even if you and your spouse each made the maximum $100,000 charitable IRA rollover gift to a qualifying charity during one or more previous years, you can still take advantage of this legislation again for the 2013 tax year.
Can a qualified distribution from my IRA account be used to fulfill a pledge?
Yes, it can be used to fulfill a pledge commitment.
Can I still make a gift with an IRA beneficiary designation?
Absolutely! Whether or not you choose to make a charitable IRA rollover gift, you can still designate Pacific Dugoni as a beneficiary to receive IRA assets after your lifetime. The lifetime charitable IRA rollover is simply another option for donors who would like to see their gifts doing good work now.
What about 2014 and beyond?
As of this writing, this special tax advantage had not been extended beyond its current Dec. 31, 2013, expiration date.
Contact Linda Frank of the Pacific Dugoni development team by phone at 415.749.3303, or email firstname.lastname@example.org.