Make a Tax-Free Gift from Your IRA

Donating to Treasure Top Ministries is safe and secure.

 In December 2015, the “Protecting Americans From Tax Hikes Act of 2015” was enacted, making the IRA Charitable Rollover provision permanent. As in previous years, the IRA Charitable Rollover allows individuals aged 70½ and older to donate up to $100,000 in IRA assets to a qualified charitable organization, such as Treasure Top Ministries. The IRA Charitable Rollover is tax-free and does not count towards a donor’s adjusted gross income.

What Does This Mean for You as a Supporter of Treasure Top Ministries?

If you are 70½ or older, you have the opportunity to make a qualified charitable gift directly from your traditional or Roth IRA account. These qualified charitable distributions are tax-free and are not included in your adjusted gross income. Although you won’t receive a charitable deduction, this option can be particularly appealing if you do not need all the income you are required to withdraw from your IRA, which is otherwise taxable.

happy couple

Requirements for IRA-Qualified Charitable Distributions

  • Gifts are tax-free up to $100,000.
  • Gifts will qualify towards your required minimum distribution.
  • The IRA owner must be at least 70½ years old at the time of the gift.
  • Gifts must be transferred directly from your IRA account to Treasure Top Ministries.
  • Distributions to donor-advised funds or support organizations are not allowed.
  • Gifts can only be made from traditional and Roth IRAs.

How to Proceed

Reach out to your IRA administrator to obtain any necessary forms and follow their instructions. Inform the staff at Treasure Top Ministries of your intent to make a charitable gift from your IRA.

Please consult your tax adviser for the most current information and rules regarding your individual tax situation.

If you have any questions or need further information, please contact our Pastor:
John Haggard
(615) 987-4181

Share this: