The Pension Protection Act of 2006 includes the charitable IRA Rollover provision. The rollover provision provides an exclusion from gross income distributions made to a qualified charity from a traditional individual retirement account (IRA). To qualify, the charitable distribution must be made to a tax-exempt organization qualified to accept deductible contributions.

The owner of the IRA may distribute up to $100,000 per year to a qualified charity without including the distribution in his/her adjusted gross income. A donor must be at least 70 1/2 years of age on or before the date of the donation, and may not take a separate charitable deduction for the rollover amount. The annual mandatory distribution may be included in the $100,000 limit for each year.

Email our Planned Giving Coordinator for more information.