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The Pension Protection Act of 2006 allows for qualified charitable contributions
from Individual Retirement Accounts (IRAs). Individuals can now rollover up to
$100,000 from an IRA or Roth IRA to a qualifying charity without the assets
becoming a taxable distribution. This legislation will expire on December 31,
2007, so act quickly.
You can still benefit if you have a 401K, 403B or other retirement account.
First roll funds from your retirement account into an IRA and then make the
donation directly to Break the Cycle.
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| How Do I Qualify? |
- You must be 70 � or older on date of contribution.
- You must transfer the donation directly to Break the Cycle.
- You cannot donate more than $100,000 per year as an individual.
- You cannot give to deferred gift plan such as a charitable remainder trust
or gift annuity.
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| How Do I Start? |
Contact your IRA trustee to make the gift directly to Break the Cycle.
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| Questions? |
Contact us at [email protected].
We are happy to discuss this unique option with you.
Please consider seeking tax or legal counsel before deciding on a course of action.
Thank you for your interest and support.
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