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IRA Rollover Gift

Make a Difference with an IRA Charitable Rollover Gift

Are you 70½ or older and looking for a way to make a meaningful impact with your retirement assets? An IRA charitable rollover gift allows you to support your favorite charities directly from your IRA while enjoying tax benefits.

Make an IRA charitable rollover gift

Here are the basic rules you need to know

  • You must be at least 70½ years old.
  • The gift must go directly from your IRA to an eligible charity.
  • You can give up to $100,000 in total to all charities in a year.
  • The gift must be outright, with no benefits received in return, so no gift annuities, charitable remainder trusts, or pooled income funds.
  • Gifts cannot go to donor-advised funds, supporting organizations, or private foundations.
  • The gift isn’t included in your taxable income, and you don’t get a charitable deduction.
  • Only IRAs are eligible; you can’t use 401(k), 403(b), or 457 plans.

An IRA charitable rollover might be right for you if:

  • Your IRA is your largest asset and you want to make a charitable gift.
  • You have to take a minimum distribution from your IRA but don’t need the extra income.
  • You don’t itemize deductions; the rollover won’t increase your taxable income.
  • You live in a state that taxes retirement plan distributions but doesn’t allow itemized charitable deductions.
  • You want to give more to charity but have reached the annual deduction limit of 50% of your adjusted gross income.
  • You have a pledge to a charity; the rollover can satisfy this without breaking self-dealing rules.

To make a gift, contact your IRA administrator to transfer the funds to your chosen charity. Reach out to us for help with any questions and instructions on completing your gift. 818-882-6400 ext 363 or rbrown@ranchosanantonio.org.

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