For iPhone Download IRA Free: How to Make Tax-Free Donations

Are you looking for ways to give back to your community while also reducing your tax burden? If so, the IRA Charitable Rollover may be just what you're looking for. This program allows individuals aged 70½ or older to make tax-free donations from their Individual Retirement Accounts (IRAs) directly to qualified public charities like WETA.

To take advantage of this opportunity, you'll need to follow a few simple steps. First, ensure that your IRA is eligible for the rollover by checking with your IRA trustee. You can then distribute up to $100,000 from your traditional Individual Retirement Account or Roth IRA directly to WETA or another qualified public charity.

One important note: the IRS prohibits transferring goods or services in exchange for a contribution from your IRA. However, your membership will continue as normal at WETA, and you'll receive an acknowledgment of your donation from the charity.

It's also essential to make sure that your distribution is made directly from the IRA trustee to WETA or another non-profit organization before December 31st to qualify for the current tax year. Charitable donations from other types of retirement plans, such as 403(b) and 401(k), are not eligible for this program.

By taking advantage of the IRA Charitable Rollover, you can make a significant impact on your community while also reducing your Adjusted Gross Income (AGI). The distribution will count towards your required minimum distribution (RMD) for the current tax year, which may help reduce your taxes.

So why not download our free guide to learn more about how to make tax-free IRA donations to WETA and other qualified public charities? With this program, you can give back to your community while also reducing your tax burden. Download now for iPhone.

For iphone download IRA free