Charitable IRA Rollovers

February 22, 2016

Late in December 2015, President Obama signed legislation that includes a permanent extension of the IRA charitable rollover provision.  Under recent law, you can move up to $100,000 from your IRA to qualified charities such as Turner House Children’s Clinic, without having to pay income tax on the donated amount.

How it Works:

  • If you are 70 1/2 or older, you can give up to $100,000 directly from your IRA to charities such as Turner House Children’s Clinic.
  • The transfer generates neither taxable income nor a tax deduction, so you still benefit even if you do not itemize your tax deductions.
  • If you have not taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
  • The transfer may be in addition to any other planned charitable giving.

Donations may be made online, or by contacting Sara Adams, Director of Development, at sadams@thcckc.org.  Your donations of any size are essential in helping Turner House provide access to quality health and dental services for underserved children in our community, and are much appreciated.