Legacy Planning using the IRA Charitable Rollover


Congress has extended the IRA Charitable Rollover and made it permanent!

If you are 70 ½ you can benefit from a gift from your IRA (up to $100,000 per year). These gifts are not reportable as taxable income and qualify for your required minimum distribution (RMD). In addition, you can benefit from an IRA charitable rollover gift if…

  • You wish to make a significant gift without using cash or other assets.
  • You do not need all or a portion of your IRA income (RMD).
  • You are paying too much in taxes and are looking to reduce your income.
  • You do not itemize deductions. Because a rollover gift can reduce your income and taxes, you can still benefit from charitable giving even as a non-itemizer.
  • You want to give over and above your normal giving. An IRA rollover gift does not count toward the 50% annual limitation on charitable gifts.
  • You find that certain deductions are being phased out or certain itemized deductions cause you to be subject to the federal alternative minimum tax (AMT).
  • With the IRA charitable rollover, you can make a gift from your IRA account to support your favorite United Methodist ministries as follows:
  • You can use your IRA charitable rollover to pay your annual or capital campaign pledge.
  • You can establish an endowment and make annual gifts from your IRA.
  • You can use your IRA charitable rollover to support the various institutions and agencies of the Oklahoma United Methodist Conference.

If you would like to learn more about the IRA Charitable Rollover and how it might work for you, please contact David Battles, CPA, at dbattles@okumf.org  or 800-259-6863.

The Oklahoma United Methodist Foundation  |4201 N Classen boulevard, Oklahoma City, OK 73118-2400  | www.okumf.org | 800-259-6863


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