Consider a IRA Charitable Rollover Donation to CLR
Donors, 70½ years or older, are eligible to move up to $100,000 from their Investment Retirement Accounts (IRAs) directly to qualified charities without having to pay income taxes on the money.
Congress passed a bill that offers an IRA Charitable Rollover, allowing individuals to make a direct distribution (up to $100,000) to a qualifying church, charitable organization, or ministry.
It's a great way to make a donation to Christian Life Resources. But you must hurry: the gift must be made on or before December 31!
What gifts qualify for a charitable IRA rollover?
A gift that qualifies (technically termed a “qualified charitable distribution”) is:
- Made by a donor age 70 1/2 or older
- Transferred from a traditional or Roth IRA directly to a permissible public charity, such as Christian Life Resources.
- Completed during the applicable tax year
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