IRA Charitable Contributions

Make a direct charitable contribution from your IRA

A recent tax law extension permanently allows tax-free annual IRA distributions that are given directly to charity. Americans age 70½ and up can make tax-free IRA contributions to public charities up to $100,000 per person, per year. One of the key benefits of the direct charitable contribution from your IRA is that the distribution counts towards your Required Minimum Distribution (RMD).

You can contribute more than your RMD to charity as long as you do not exceed $100,000 in a calendar year. Charitable contributions are limited to 50% of Adjusted Gross Income (AGI) each year. The excess can be carried forward five years. For taxpayers who contribute at this level, the IRA charitable contribution offers an opportunity to make a contribution that is not limited by AGI.

Contact your financial advisor to learn more about how to make a direct IRA distribution to De Paul.