top of page
Search

IRA Charitable Rollover



IRA Rollover is back

Act Now!

Don't Miss This Opportunity to Make a Difference

President Obama reinstated a law that allows you to make a tax-free gift to us from your IRA. Known as the IRA charitable rollover, this law has been reinstated. If you have already made this type of gift in 2016, you're in luck! But if you've been waiting to make your IRA transfer this year, you must act right now to take advantage of this opportunity.

IT'S NOT TOO LATE

Under the recently reinstated law, you may move up to $100,000 from your IRA directly to a qualified charity such as Baptist Children's Homes of North Carolina without having to pay income taxes on the money.

HOW AN IRA CHARITABLE ROLLOVER WORKS

  • If you are 70½ or older, you can give up to $100,000 directly from your IRA to charities such as Baptist Children's Homes.

  • 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 made in addition to any other charitable giving you have planned.

  • The gift needs to be made by Dec. 31, 2016, if you want your gift to qualify this year.