Giving with IRA distributions
If you're 70-1/2 or older it makes sense to use your IRA's qualified charitable distribution to avoid unnecessary taxes and make charitable donations.
It's very simple to do.
Contact the institution that handles your IRA and let them know how much you want to give to the parish, up to $100,000.
They can mail the check directly to the parish.
The gift is excluded from your adjusted gross income. and you can save money at tax time. Plus if you are required to take a minimum distribution, a gift from your IRA can help you to meet that requirement.
The distribution, also known as an IRA Charitable Rollover, is authorized by Section 408(d)(8) of the Internal Revenue Code.
You should consult a tax advisor or other professional for additional information regarding your specific situation.
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