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IRA Rollovers Provide Unique Opportunity for UCSF Donors
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The Pension Protection Act of 2006, signed into law in August by President Bush, includes a charitable giving provision that permits new tax-free distributions from IRAs. Known as the charitable IRA rollover, the provision allows individuals age 70 and a half and older who have a traditional or Roth IRA to:
- make a direct transfer from their IRA to a public charity of up to $100,000 per year in 2006 and 2007;
- exclude the Charitable IRA Rollover amount from their taxable income;
- satisfy their required minimum distribution by making a direct charitable IRA rollover; and
- continue to make deductible gifts to charities up to the percentage limitations in addition to the charitable IRA rollover.
For more information, visit http://www.ucsf.edu/support/trustsandbequests/IRA.html or contact Judith Mazia at 415/476-1475 or jmazia@support.ucsf.edu.
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