IRA Charitable Rollover
If you are age 70-1/2
or older you may be eligible to make a tax-free distribution
of up to $100,000 from your Individual
Retirement Account (IRA) to Hawaii Public Radio
until December 31, 2013.
An IRA charitable rollover is described as a “qualified
charitable distribution,” or money that individuals may direct from their
traditional IRA to eligible charitable organizations such as Hawaii Public
Radio. Individuals may exclude the amount distributed directly to charity from
their gross income. With the January
1, 2013 passing of the American Taxpayer Relief Act of 2013, the provision
distributions to charity from an Individual Retirement Account (IRA) held by
someone age 70½ or older of up to $100,000 per taxpayer was extended until
December 31, 2013.
IRA Charitable Rollover FAQs
Individuals who are at least age 70 at the time of the contribution.
How much can I transfer?
Up to $100,000 per taxpayer for 2013.
From what accounts can I make transfers?
Transfers must come from IRAs (traditional or Roth) directly to the charity.
How do individuals make a qualified charitable distribution?
Contact your IRA trustee.
Please consult your accountant or financial advisor to determine if this giving option would be beneficial to you. For more information about the IRA Charitable Rollover or other giving options, contact HPR VP & Asst GM Valerie Yee at (direct) 808-792-8210 or email@example.com.Learn more
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