Gifts From Your IRA

People age 70-1/2 or older may make a gift up to $100,000 directly from an IRA to a qualified charity such as the AHRC New York City Foundation. The gift counts toward the minimum required distribution and is tax free if made directly from an IRA to the charity.

This tax break, first offered in 2006 and renewed annually after that, was made permanent in December 2015.

Such a gift is a good option for donors who must take a minimum distribution but don’t need the income. Donors who don’t itemize deductions on their tax returns also benefit because the gift is not tax deductible but is tax free.

To make a charitable gift from your IRA, contact the custodian of your account.

Click here to read more about making charitable gifts from your IRA in the latest issue of our Giving Matters newsletter.