The re-enacted IRA Charitable Rollover provision permits individuals 70½ years or older to take advantage of a special tax-saving and gift opportunity. Through 2010, older Americans are once again able to contribute directly to public charities from their individual retirement accounts (IRAs) without having to count the distributions as taxable income.
What are the benefits to you?
• You can transfer IRA assets directly to Parish without paying income tax on the withdrawal.
• The amount of the charitable transfer will count toward your annual minimum required distribution.
• You may contribute up to $100,000
• The funds must be transferred from a traditional IRA or a rollover IRA directly to Parish Episcopal School.
To learn more, please contact please contact Diana Sobey in the Advancement Office at email@example.com or 972-852.8785.