Did you know the gift of a Charitable IRA Rollover benefits donors aged 70½ and up?
These types of donations are an excellent way to show your support for NDSC while receiving tax benefits in return. As you plan your required minimum distributions (RMD), consider using your IRA account to maximize your charitable giving.
To qualify
- You must be 70½ or older at the time of gift.
- Distributions must be made directly from a traditional IRA account by your IRA administrator to the NDSC.
- Gifts must be outright, meaning they go directly to the NDSC. Distributions to donor-advised funds do not qualify.
- Gifts from 401(k), 403(b), "ongoing" SEP or SIMPLE IRAs, and other plans do not qualify.
Tax Benefits
- Charitable IRA Rollovers are excluded as gross income for federal income tax purposes on your IRS Form 1040.
- The gift counts toward your required minimum distribution for the year you made the gift.
- You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.
- You receive a tax benefit even if you take the standard deduction! It's important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to discuss this gift plan with your financial advisor.
Please mail Charitable IRA Rollover checks to:
Fueled Collective
Attn: National Down Syndrome Congress
3825 Edwards Road, Suite 103
Cincinnati, OH. 45209
Please note: We need your name and address to accompany the check so that we can correctly credit and acknowledge your gift.
