Permanent IRA tax-free charitable distributions became law in 2015. Everyone age 70 1/2 or older can direct charitable gifts totaling up to $100,000 per year from their IRA account without first incurring federal income tax on the withdrawal. Although these distributions will be free from income tax, they will not generate an income tax charitable deduction. This IRA charitable rollover provides donors with an excellent opportunity to make a gift while they are still living from an asset that would be subject to multiple levels of taxation if it remained in your taxable estate.
Transfers must be made directly from a traditional IRA account by the IRA Administrator.
The IRA Administrator should make the check payable to:
PA Pro-Life Federation Education Fund (Fed ID #25-6255722)
Mail it directly to:
PA Pro-Life Federation Education Fund
4800 Jonestown Rd, Suite 102
Harrisburg, PA17109-1741.
If the owner of the IRA personally withdraws the funds and then contributes them, they will NOT qualify for the tax-free distribution. Gifts from 401k, 403b, SEP and other plans also do NOT qualify.
Donors will experience significant tax savings and help save innocent lives at the same time! If you are 70 ½ years old, then Contact your IRA Administrator now and authorize a gift to the Pennsylvania Pro-Life Federation Education Fund today.
