Robin and Jim Olson
You can help them by making a tax-free charitable gift, even without itemizing!
If you’re 70½ or older, you have access to one of the most efficient ways of making a charitable gift. Instead of donating your IRA required minimum distribution (RMD) after taxes, you can roll it into a tax-free gift and benefit the causes that matter most to you.
Robin and Jim Olson did. They had their IRA administrator distribute a specific portion of their RMD to the House, and to two of their other favorite charities. The Olsons felt the larger gift, made possible by making a tax-free distribution directly from their IRA, was more meaningful. They could utilize the newly increased 2018 standard deduction and still support the causes they care about.
Learn more benefits to you of the IRA Charitable Rollover.
If you're considering this thoughtful decision, you can either:
Did You Know?
- The first calendar year you turn 70½, you have until April 1 the following year to make your first required distribution. In subsequent years, the deadline is December 31.
- Your tax-free IRA rollover can be more than the amount of your RMD – up to $100,000. And the distribution won't count as income.
Not 70½ Yet?
You still can support our families with your IRA. Simply name the House as a beneficiary of your account, and we'll receive the funds, or the portion you designate, after your lifetime. Your thoughtful decision would also make you a member of our Many Hearts Legacy Society.