Gifts From Your IRA

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Individuals age 70 ½ and older can donate up to $100,000 directly to charitable nonprofits from their individual retirement accounts (IRAs) without it being treated as taxable income. One essential detail — your plan administrator must issue the check directly to the charity.

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Studies show that gifting funds directly from your IRA is one of the most tax beneficial means of charitable giving. While this donation cannot be claimed as a charitable deduction, donors could realize other benefits by reducing their taxable income in this way.

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Consult your plan administrator or your tax advisors for more information about this provision and specific tax advice. Questions? Contact us at uplc@uplandconservancy.org.