Giving through your IRA has never been more beneficial than right now! For the past four tax years, 2006-2009, all IRA owners over the age of 70 1/2 have been eligible to make gifts to the USS Midway Museum directly from their IRA's without reporting any taxable income to the IRS. Good News! - The recently passed "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" extends this great benefit for the 2010 and 2011 tax years. And, since Congress waited until mid-December to make this extension, IRA owners may make their 2010 charitable gift up until January 31, 2011!
An IRA gift may be made as:
- a percentage of your IRA
- a specific dollar amount
- your annual required minimum distribution amount
- a gift of less than $100,000 in any one year
For more information on giving through your IRA, please click here.
To print out the IRA Charitable Rollovers brochure, please click here.