The IRA Charitable Rollover has been extended through December 31, 2013. It permits a taxpayer age 70 ½ years or older to donate up to $100,000 directly from an IRA to Purdue University. The amount transferred will count toward the owner’s required minimum distribution (RMD) and will not be included in his or her taxable income. Because the funds you give away are never taxed as income, your gift does not qualify as a charitable income tax deduction.
Our sample IRA Charitable Rollover letter can help you arrange this type of gift with your IRA administrator.
Take the following steps to take advantage of this opportunity:
If you are contemplating a charitable gift under the new laws, please feel free to contact the Purdue University Office of Planned Giving by email at email@example.com or call 765-494-2730 or 800-677-8780 for additional information.