IRA Charitable Rollover
Did you know that you can make a tax-advantaged gift to Alaska Public Media from your IRA?
The American Tax Payer Relief Act of 2012 extended the IRA Charitable Rollover provision from the Pension Protection Act of 2006 through 2013. Here’s why you should
consider a gift of this type:
- You can use an overlooked asset to make a gift to Alaska Public Media.
- The IRA Charitable Rollover permits you to make donations directly to charitable organizations such as Alaska Public Media from your IRA without counting the distribution as part of your AGI and, consequently, without paying taxes on it.
- You never recognize the distribution as income for federal income tax purposes.
- The distribution counts towards your minimum required distribution for the year.
And of course, the best reason to consider a gift of this type is that you will be supporting the many ways that Alaska Public Media keeps you informed, engaged and connected.
- You must be 70 ½ or older at the time of the transfer.
- Your total combined charitable IRA rollover contribution cannot exceed $100,000 in any one year.
- The transfer must be made directly from your IRA to the station.
- They can only be outright gifts (no transfers to a gift annuity or charitable trust).
- No goods or services can be provided in exchange for these gifts.
- They cannot be made to a donor advised fund or a supporting organization.
- Your transfer must be made before December 31, 2013.
Everyone’s tax situation is different, so we encourage you to speak with your tax advisor regarding your specific situation.
But, you must act soon. This provision is currently active for distributions made through 2013 only.
The opportunity to make a tax-advantaged gift from your IRA may go away after this year. Talk with your tax advisor now about your Charitable IRA Rollover gift.