{"id":1339,"date":"2022-06-21T11:27:55","date_gmt":"2022-06-21T11:27:55","guid":{"rendered":"http:\/\/breakthecycle.org\/ira_rollover\/"},"modified":"2024-04-13T22:05:11","modified_gmt":"2024-04-13T22:05:11","slug":"ira_rollover","status":"publish","type":"page","link":"https:\/\/www.breakthecycle.org\/ira_rollover\/","title":{"rendered":"Break the Cycle"},"content":{"rendered":"<p><!-- SUB CENTER CONTENT BEGIN --><\/p>\n<table width=\"500\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tr>\n<td class=\"sub_header_text_blue\" width=\"500\">IRA Rollover<\/td>\n<\/tr>\n<tr>\n<td height=\"6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"sub_text_gray\" width=\"645\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t      The Pension Protection Act of 2006 allows for qualified charitable contributions<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  from Individual Retirement Accounts (IRAs). Individuals can now rollover up to<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  $100,000 from an IRA or Roth IRA to a qualifying charity without the assets<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  becoming a taxable distribution. This legislation will expire on December 31,<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  2007, so act quickly.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <br class=\"o877gxqusjkh4ofpr\"\/><br class=\"o877gxqusjkh4ofpr\"\/><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  You can still benefit if you have a 401K, 403B or other retirement account.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  First roll funds from your retirement account into an IRA and then make the<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  donation directly to Break the Cycle.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <br class=\"o877gxqusjkh4ofpr\"\/><br class=\"o877gxqusjkh4ofpr\"\/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <\/td>\n<\/tr>\n<tr>\n<td class=\"sub_large_text_gray\" width=\"500\">How Do I Qualify?<\/td>\n<\/tr>\n<tr>\n<td class=\"sub_text_gray\" width=\"500\">\n<ul>\n<li>You must be 70 \u00bd or older on date of contribution.<\/li>\n<li>You must transfer the donation directly to Break the Cycle.<\/li>\n<li>You cannot donate more than $100,000 per year as an individual.<\/li>\n<li>You cannot give to deferred gift plan such as a charitable remainder trust<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t      or gift annuity.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"sub_large_text_gray\" width=\"500\">How Do I Start?<\/td>\n<\/tr>\n<tr>\n<td class=\"sub_text_gray\" width=\"500\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  Contact your IRA trustee to make the gift directly to Break the Cycle.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <br class=\"o877gxqusjkh4ofpr\"\/><br class=\"o877gxqusjkh4ofpr\"\/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   <\/td>\n<\/tr>\n<tr>\n<td class=\"sub_large_text_gray\" width=\"500\">Questions?<\/td>\n<\/tr>\n<tr>\n<td class=\"sub_text_gray\" width=\"500\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  Contact us at <a class=\"blue_sub_link\" href=\"mailto:development@breakthecycle.org\">development@breakthecycle.org<\/a>.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  We are happy to discuss this unique option with you.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <br class=\"o877gxqusjkh4ofpr\"\/><br class=\"o877gxqusjkh4ofpr\"\/><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  Please consider seeking tax or legal counsel before deciding on a course of action.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <br class=\"o877gxqusjkh4ofpr\"\/><br class=\"o877gxqusjkh4ofpr\"\/><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  Thank you for your interest and support.<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <br class=\"o877gxqusjkh4ofpr\"\/><br class=\"o877gxqusjkh4ofpr\"\/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <\/td>\n<\/tr>\n<tr>\n<td height=\"200\"><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>IRA Rollover The Pension Protection Act of 2006 allows for qualified charitable contributions from Individual &#8230; <a title=\"Break the Cycle\" class=\"read-more\" href=\"https:\/\/www.breakthecycle.org\/ira_rollover\/\" aria-label=\"More on Break the Cycle\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template_10.php","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.breakthecycle.org\/wp-json\/wp\/v2\/pages\/1339"}],"collection":[{"href":"https:\/\/www.breakthecycle.org\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.breakthecycle.org\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.breakthecycle.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.breakthecycle.org\/wp-json\/wp\/v2\/comments?post=1339"}],"version-history":[{"count":0,"href":"https:\/\/www.breakthecycle.org\/wp-json\/wp\/v2\/pages\/1339\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.breakthecycle.org\/wp-json\/wp\/v2\/media?parent=1339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}