The IRA Charitable Qualified Distribution is now a permanent provision of the federal tax code. This allows donors who are 70 ½ or older to make a tax-free contribution to RCMS or other charities. You can donate up to $100,000 in each year from your IRA. The contribution counts towards your Required Minimum Distribution. It does not generate either taxable income or a charitable tax deduction for you. A gift from your IRA provides an excellent opportunity to make a gift during your lifetime from an asset that is often subject to multiple layers of taxation if left in your estate.
Transfers must be made directly from a traditional IRA account by your IRA plan administrator. Gifts from 401(k), 403(b), SEP, or other plans do not qualify for this provision. Contact you plan administrator to initiate.
Sample letter directing a charitable IRA rollover to RCMS.pdf