- Qualified distributions made by Feb. 1, 2013, may be counted retroactively for the 2012 tax year.
- A taxpayer, who took a distribution from an IRA in December 2012, may make a contribution to a qualified charity before Feb. 1, 2013, and treat the gift as a direct transfer.
What Are The Benefits?
Donors can transfer up to $100,000/year directly from a Traditional or Roth IRA to a qualified charity, including PCI, without paying income taxes on the funds transferred.
What Are the Rules?
- Donors must be 70 ½ years old or older when making the qualified charitable distribution.
- The distribution must go directly from a Traditional or Roth IRA to a charitable organization.
- Gifts cannot exceed $100,000 per taxpayer, per year.
- Gifts must be outright (not to a donor-advised fund, support organization, charitable trust, or charitable gift annuity).
- Gifts must be made between January 1, 2012 and December 31, 2013.
If you have any questions please email Amy Corton, Director of Development, Planned Giving, at firstname.lastname@example.org or call (619) 987-9829.