Direct donations from your IRA

Direct donations from your IRA

IMG_1331If you are over 70 1/2 years of age you have a Required Minimum Distribution from your Traditional IRA.

If you are giving to charity anyway, why not consider giving directly from your IRA. Why?

This keeps your Modified Adjusted Gross Income down which keeps it out of the calculation for higher Medicare premiums, it lowers Ohio Adjusted Gross Income for Ohio taxes and if you didn’t have enough to itemize then you would be losing this deduction.  This way it never even goes into your income.

It must be a direct transfer from the IRA.  You can transfer up to $100,000 in a year.

Linda Reinhardt

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