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IRA Charitable Rollover

The President signed the American Taxpayer Relief Act of 2012 into law on January 2, extending the IRA Charitable Rollover for one more year. Donors age 70½ or older are once again eligible to donate, tax-free, up to $100,000 from their IRAs directly to qualified charities like The Institute for Spirituality and Healthcare, Princeton, NJ. Congress recognized the issues with a late extension and provided two special transition rules:   
1) Qualified distributions made by Feb. 1, 2013, may be counted retroactively for the 2012 tax year.
2) A taxpayer who took a distribution from an IRA in December 2012, may make a contribution to The Institute For Spirituality and Healthcare, Princeton, NJ before Feb. 1, 2013, and treat this as a direct transfer.
If you have questions or would like to speak to someone about a gift to The Institute for Spirituality and Healthcare, Princeton, NJ through your IRA, please contact 609.514.2600
by the numbers...
· First enacted in 2006 as part of the Pension Protection Act, reinstated for this year
· Taxpayers age 70.5 and older must make annual distributions from their IRAs that are then included in their taxed Adjusted Gross Income (AGI)
· In 2013, those donors can make gifts to Institute for Spirituality and Healthcare, Princeton, NJ from their traditional IRA's or Roth IRA (other retirement plans are ineligible) without counting them as part of their AGI
· IRA Rollover contributions can be made up to $100,000
· Your contribution is integral to advancing the mission of the Institute.