Not planning to itemize your taxes? Consider a making a gift from your IRA!
The new tax law did not change the rules for qualified charitable distributions. This provision allows people 70 ½ and older to transfer up to $100,000 from their IRAs to charity each year. It counts toward their required minimum distribution without being added to their adjusted gross income. The tax-free transfer from an IRA lets you benefit from making a gift to The Arc of Massachusetts, even without itemizing.
You should note that the gift from your IRA must be made directly by the custodian of your IRA, not you. Call the financial institution that holds your IRA and ask about its charitable rollover procedures.
Please contact Katrin Aback, Director of Development, at firstname.lastname@example.org or 781-891-6270 x105 if you have any questions.