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<h1>IRA Charitable Rollovers</h1> |
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<h1>IRA Charitable Rollovers</h1> |
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If you are a US taxpayer age 70½ or older, you may be eligible for the IRA Charitable Rollover, also known as a <a href="https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity" target="_blank" class="muted link violet">Qualified Charitable Distribution (QCD)</a>.<br> |
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If you are a US taxpayer age 70½ or older, you may be eligible for the IRA charitable rollover, also known as a <a href="https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity" target="_blank" class="muted link violet">qualified charitable distribution (QCD)</a>.<br> |
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These tax-advantaged distributions allow you to make a gift to the Wikimedia Endowment from your IRA without paying income tax on the amount transferred. |
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These tax-advantaged distributions allow you to make a gift to the Wikimedia Endowment from your IRA without paying income tax on the amount transferred. |
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<p><strong>To qualify:</strong></p> |
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<p><strong>To qualify:</strong></p> |
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<li>You must be at least 70½ or older at the time of the gift.</li> |
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<li>You must be at least age 70½ or older at the time of the gift.</li> |
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<li>You're allowed to transfer to charity up to $105,000 per year.</li> |
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<li>You're allowed to transfer to charity up to $105,000 per year.</li> |
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<li>The rollover must come from your IRA.</li> |
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<li>The rollover must come from your IRA.</li> |
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If you're not in a position to make an IRA Charitable Rollover during your lifetime, you can use your IRA to make a planned gift to Wikimedia in the future. To do so, simply name Wikimedia as a beneficiary of all or a percentage of your IRA by contacting your plan administrator and requesting a Beneficiary Designation Form. |
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If you're not in a position to make an IRA Charitable Rollover during your lifetime, you can use your IRA to make a planned gift to Wikimedia in the future. To do so, simply name Wikimedia as a beneficiary of all or a percentage of your IRA by contacting your plan administrator and requesting a Beneficiary Designation Form. |
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Thanks to new legislation, if you're 70½ or older you can use your IRA Charitable Rollover to fund a charitable gift annuity (CGA) and satisfy your RMD. Contact <a href="mailto:legacy@wikimedia.org" class="muted">legacy@wikimedia.org</a> to learn more. |
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Thanks to new legislation, if you're 70½ years of age or older you can use your IRA Charitable Rollover to fund a charitable gift annuity (CGA) and satisfy your RMD. Contact <a href="mailto:legacy@wikimedia.org" class="muted">legacy@wikimedia.org</a> to learn more. |
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