IRA Charitable Rollovers are Back!

The American Taxpayer Relief Act of 2012 includes an amendment that makes it possible for you to make tax-free distributions from your IRA accounts--up to $100,000--to charitable organizations before February 1, 2013, and have them apply for the 2012 tax year. In addition, you can also make up to $100,000 in tax-free distributions from your IRA accounts by December 31, 2013, for the 2013 tax year.  This amount will count toward your required minimum distribution for the year and it will not be treated as taxable income!

Rules and Requirements:
• You must be age 70½ of age.
• Tax benefits apply to distributions of up to $100,000 per tax year.
• The amount must be in the form of an outright gift

Would you like to make a difference with your IRA Charitable Rollover for the 2012 tax year?  It is easy, and we can help you! All you need to do is call the University Advancement Office – we have all the forms necessary on-hand and ready to go.