IRA Contributions
Did you know that if you are 70 ½ years of age, you may arrange for a direct transfer to the Love For Linley Foundation from your IRA, known as a IRA Charitable Rollover? The sum counts toward your required minimum distribution and the benefit to you is there is no federal income tax on the withdrawal. Don’t forget you have QDC (Qualified Charitable Contributions) as well as RMD (Required Minimum Distributions) that can create such an impact for our Love For Linley efforts. Consult with your financial planner or tax advisor!
A qualified charitable distribution from an IRA is a good way for IRA owners age 70½ and over to support our work. It’s easy to do.
Instruct your IRA custodian to make a distribution directly to our organization.
Although there is no tax deduction, the distribution is excluded from your income for federal tax purposes—no tax is due!
Up to $100,000 of your gift (annual aggregate limit) qualifies for this favorable tax treatment.
Your gift makes an immediate impact.
A qualified charitable distribution from an IRA counts toward a donor's required minimum distribution (RMD) if one is due. Contributions to your IRA after age 70½ can impact the amount eligible for a tax-free transfer.