If you are 70 1/2 or older and have to take a required minimum distribution (RMD) from your IRA, did you know that you can transfer up to $100,000 each year directly to a qualified charity like your Parish, Catholic School, the Diocese of Venice or the Catholic Community Foundation?  By rolling over your IRA distribution directly to a qualified charity, it counts towards your RMD and you avoid having to include the distribution as taxable income.

Benefits of Using an IRA Charitable Rollover

  • Entitles you to tax benefits without requiring you to itemize your deductions
  • The distribution counts towards your required minimum distribution
  • The distribution is not included in the income on which your federal income taxes will be based (thus reducing your taxable income)
  • Because the distribution is tax free, you can increase your giving without costing you one additional penny

*The Catholic Community Foundation of Southwest Florida does not provide legal, tax or financial advice.  When considering gifting options, seek the advice of your own legal, tax and/or financial professionals.

IRA Charitable Rollover Fact Sheet
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