IRA Charitable Rollover Legislation Permanently Renewed
In December 2015, the president signed into law the Protecting Americans from Tax Hikes Act of 2015, making the benefits of charitable giving from your IRA effective for 2016 and beyond.
How It Works
Donors age 70 and 1/2 or older on the day of the gift are eligible to move up to $100,000 from their IRAs directly to a charity without having to pay income tax on the money as they otherwise would. (NOTE: While not taxable as income, the donation is not tax deductible.) This opportunity applies only to IRAs and not to other types of retirement plans.
If you have any questions regarding this giving opportunity please contact Passavant Hospital Foundation President Fay Morgan at 412-748-6645.