IRA Charitable Rollover
Supporters 70.5 or older with a traditional IRA are eligible to donate to Big Brothers Big Sisters directly from their IRAs without increasing their taxable incomes. These gifts are, in many cases, tax-free, regardless of whether or not you itemize deductions on your tax return.
You can use this online tool to make your donation online, print out the forms you need to complete the gift offline, or learn more about the benefits of giving from your IRA.
A few reminders:
- Donor must be 70 1/2 or older.
- Gift must be made directly from the IRA to an eligible charitable organization.
- Gifts to all charities combined may not exceed more than of $100,000 per taxpayer for the year.
- No material benefits can be received in return for gifts.
- Gifts may not be made to a donor advised fund, supporting organization, or private foundation.
- The gift is not included in taxable income; thus, no charitable deduction is allowed.
- Gifts must be made from an IRA. Gifts from 401(k), 403(b), and 457 plans are prohibited.
Ready to make your gift? Get started here.