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Charitable IRA Rollover Now Permanent

POSTED ON Mar 11, 2016

There’s no time like now to use a charitable IRA rollover to fund Bible translation.

In 2015, the President signed the law that made the charitable IRA rollover permanent. But it was so close to the end of the year that many people did not hear about it in time to make a 2015 gift.

If that applies to you, why not get started right now?

Donors age 70½ or older can make a rollover gift of up to $100,000 from their IRA each year to qualified charitable organizations. Your gift can be used toward meeting your annual required minimum distribution (RMD), helping to reduce your taxable income.

An IRA rollover gift may also help you if you no longer itemize your income tax, but wish to continue making charitable gifts. A distribution made directly from an IRA to a charitable organization is not considered taxable income.

Your tax advisor can help you determine if a charitable IRA rollover is right for you.If it is, contact us and we can help you direct the funds toward Bible translation. Call us at 800-813-1566, or email sdo@ntm.org.