IRA Charitable Rollover
NEW LAW: No Required Minimum Distributions in 2020!
As a part of the CARES Act, Congress has temporarily eliminated most required minimum distributions (“RMD”) from retirement plans during 2020. Check with your financial advisor to see how this might affect you. Even without an RMD, a QCD remains a great way to make tax advantageous contributions. Learn more about the CARES Act.
The IRA charitable rollover is now permanent and is a terrific way to make a tax-free gift to Marietta College using your qualified retirement plan. This gift may also satisfy your required minimum distribution (RMD).
How Do I Qualify?
- You must be age 70 ½ or older when the gift is made.
- Gifts must go directly from your IRA to Marietta College.
- Gifts must come from a traditional IRA or Roth IRA account.
- Gifts cannot exceed $100,000 per donor.
Benefits of an IRA Charitable Rollover Gift
- Gifts can satisfy your RMD without increasing your income taxes.
- You will not pay taxes on your IRA withdrawal when gifted to Marietta College.
- You may direct your gift to a Marietta College program or area of your choice.
- It is a wonderful way to create an immediate impact in the lives of students and their families.
The Office of Gift Planning can provide you with a letter to send to your IRA administrator to make an IRA charitable rollover.
For more information on this gift or any other of our gift planning options, please contact:
Toll Free: 888-540-7722