Charitable IRA Rollover Is Now Permanent

on ; last featured December 17, 2016
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In late 2015, President Obama signed a tax bill making the IRA charitable rollover permanent! If you are an American 70 ½ or older, the IRA rollover is a great way for you to make an IRA rollover gift to support Answers in Genesis.

IRA rollover gifts can make a huge difference and help AiG spread the gospel and the vital message of biblical authority. In a day and age when God’s Word is constantly ridiculed or ignored, it is more important than ever that we equip the next generation to stand solidly, boldly, and without compromise on the message of God’s Word and the gospel.

There are a few details that we wanted to share with you about the tax bill and the IRA rollover:

  • The IRA rollover allows donors 70 ½ or older to transfer up to $100,000 directly from their IRA to charity each year.
  • An IRA rollover gift is a tax-exempt distribution. Qualifying individuals can make charitable gifts using pre-tax IRA assets rather than taking a distribution, paying income taxes and using after-tax assets to make a charitable gift.
  • An IRA rollover gift can be used to meet all or part of an IRA-required minimum distribution.
  • A permanent IRA rollover will give qualifying individuals certainty, allowing them to better manage their income, taxes, and charitable giving.
  • The law is retroactive to December 31, 2014, so if you've made a gift directly from your IRA to us at any point since December 31, 2014, your gift will qualify as a rollover gift.

If you are considering making an IRA rollover gift, please go to GenesisGift.org to learn more or to contact us. We would be happy to talk with you and answer your questions about this wonderful gift opportunity.

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