IRA Charitable Rollover Program

Congress has permanently extended this popular tax-advantaged giving opportunity.

The law allows individuals who are age 70½ or older to make gifts of up to $100,000 directly from their IRA account to one or more qualified charities, without paying federal income tax on the withdrawal. 

Donors who wish to make a gift to benefit Knoxville Jewish Alliance may want to make a Qualified Charitable Distribution. 

Here are the specifics:

• Donors must be age 70½ or older at the time the gift is made.

• Only traditional IRAs are eligible.

• Donors must request a direct transfer of funds from their plan administrator to a qualified public charity; funds cannot be withdrawn prior to a gift or the tax benefit is nullified.

• Gifts cannot be made to a private foundation or to a donor advised fund.

• Gifts cannot be used to fund a gift annuity or charitable remainder trust.

• Each donor may give up to $100,000 per year. For couples, each spouse can give up to $100,000. 

• Distributions made under this law can be used to satisfy the donor's required minimum distribution (RMD). The rollover allows for a charitable gift to fulfill the RMD without adding to tax liability.

Note: Knoxville Jewish Alliance cannot give tax or legal advice. Please consult your own professional tax advisor about the best way to take advantage of this opportunity.

To make a gift to KJA from an IRA