Support UCS with an IRA Rollover Gift
If you have savings in an individual retirement account (IRA), you can use it to support UCS while reducing your tax liability.
The American Taxpayer Relief Act of 2012, passed by Congress on January 1, 2013, renews special incentives to make tax-free charitable distributions of up to $100,000 from traditional IRAs and Roth IRAs through the end of 2013
To take advantage of this opportunity you must:
- be at least 70 1/2 years old;
- transfer funds DIRECTLY from a traditional or Roth IRA account to UCS by your IRA administrator (funds that are withdrawn by you and then contributed do NOT qualify); and
- make the gift before December 31, 2013.
As you know, retirement plan assets are typically subject to a heavy tax burden. If you have saved tax-deferred income in an IRA and are currently required to take distributions, any amount you donate directly to UCS can count toward your minimum required distribution. It is an easy, tax-free way to help advance our work on some of the most critical environmental, security, and health issues of our time.
- You may transfer up to $100,000 of gifts directly from your IRA in 2013.
- In most cases, qualified charitable distributions count toward your minimum required distributions.
- The charitable distribution generates neither taxable income nor a tax deduction, so even those who do not itemize their tax returns receive the benefit.
- Gifts from your IRA may be in addition to or fulfill any charitable giving you have already planned.
The Next Step:
Be sure to contact tax professionals and your IRA administrator if you are considering a gift under this law. Feel free to contact Samantha Morrison, Senior Development Officer, at (800) 666-8276 or firstname.lastname@example.org with any questions.