The Pension Protection Act of 2006 permits IRA owners starting at age 70½ to make tax-free charitable gifts totaling up to $100,000 per year from their IRAs directly to eligible charities, such as Carlow University.
Through the end of 2013, U.S. IRA owners age 70½ and older may take advantage of the IRA charitable rollover provision. This provision allows U.S. individuals to make federally tax-free distributions of up to US$100,000 from an IRA to qualified charitable organizations, such as Carlow University. Charitable distributions from an IRA may be used to satisfy the annual required minimum distribution (RMD).
Please note: Information found on this page is intended to provide general information and is not intended as legal advice nor should be relied upon as such.