Congress Permanently Reinstates IRA Charitable Rollover

This opportunity provides incentives for those 70½ years of age and older to make tax-free charitable gifts from their IRAs to a qualified charity 

As of December 18 2015, Congress permanently reinstated the IRA charitable rollover.  This opportunity provides incentives for those 70½ years of age and older to make tax-free charitable gifts from their IRAs to a qualified charity such as the Orlando Health Foundation.  This law has been reinstated for all of 2015 and will remain in effect for the foreseeable future.

How It Works

  • If you are 70½ or older, you can move up to $100,000 directly from your IRA to a qualified charity such as the Orlando Health Foundation.
  • The transfer is not included in your taxable income, nor does it generate a tax deduction (a benefit for those who do not itemize).
  • The IRA charitable rollover gift can satisfy all or part of your required minimum distribution (RMD).
  • The transfer may be made in addition to any other charitable giving you have planned.

This benefit has been extended permanently, but you must act before December 31, 2015 to take advantage of this opportunity for year 2015.

 

If you have already made a qualifying gift in 2015, I encourage you to contact your advisor as this opportunity is retroactive for the current year. 

Want to learn more about including Orlando Health in your charitable plans? Visit the Planned Giving section of our website.

For more information, please contact the Office of Planned Giving at 407.841.5149 or email  R-PlannedGiving@orlandohealth.com.

 

December 22, 2015