Congress Extends IRA Charitable Rollover
On December 18, Congress extended the IRA charitable rollover for 2015 and beyond. Once approved, the new law does not have an expiration date and will be retroactive to January 1, 2015. Donors 70½ or older can move up to $100,000 from their IRAs directly to Huggins Hospital or other qualified charities without having to declare the transfer as income and therefore will not have to pay income tax on the donated money.
Please note, donors must be 70½ or older on the day of the gift, must make a transfer from an IRA, and prior to December 31, 2015. There are a number of requirements that must be met for this gift to qualify under the law. As always, please consult your personal financial and/or investment advisor prior to taking any action. For general information and answers to questions, please contact Jeff McGuinness, Vice President of Advancement, at 603.569.7560 or email@example.com.
For more information about Nontaxable IRA Transfers, please select the "View Related Document" below.