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2011 Charitable IRA Rollover - Act Now!
The Charitable IRA rollover enjoyed by many donors in the past has been extended for 2011. If you have reached age 70½+, this means that you can give directly from your IRA to The Wartburg without having to first recognize the distribution as income on your federal tax return. Up to $100,000 may be transferred from an IRA prior to January 31, 2012. A couple with separate IRAs can each make gifts up to $100,000. So if you are the owner of a traditional or Roth IRA you may instruct your IRA trustee to distribute directly to The Wartburg Foundation up to $100,000 as a current outright gift. The distribution is excluded from the donor's taxable income but still counts toward the IRA owner's mandatory annual or minimum required withdrawal amount.
If you are eligible for and interested in making a retroactive IRA rollover gift to The Wartburg Foundation, please contact The Foundation's offices at 914-513-5308 or email Katherine Guenther at kguenther@thewartburg.org to receive detailed information regarding exact procedural steps required for successful completion of your tax-advantaged gift.
The information above is not intended to be legal, tax, or investment advice. Please consult your attorney and/or personal financial advisor to obtain this information.
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