It is great news, but you have to hurry!
On Dec. 19, 2014, legislation was signed into law that extends the IRA rollover for a very limited time. How limited? It only applies to gifts made by Dec. 31.
If you are over age 70½, you can make special, tax-free charitable gifts from traditional and Roth IRA accounts. Amounts given in this way will count toward your 2014 required IRA withdrawal amounts.
To make a gift from your IRA:
- Do not withdraw funds prior to making a gift.
- Instead, distribute the funds directly from an IRA to a qualified charity like the Good Samaritan Society. If you have check writing privileges on your IRA accounts, this may be the most efficient way to make gifts directly from an IRA. The time is VERY limited.
|Click here to learn how an IRA rollover gift works.|
For more information, please call the Good Samaritan Foundation at 877-774-2746, or contact your IRA administrator or financial adviser.
The mission of the Good Samaritan Foundation is to support The Evangelical Lutheran Good Samaritan Society: sharing God’s love in word and deed by providing shelter and supportive services to older persons and others in need well into the future. The Foundation gathers, grows and provides the channels through which gifts and grants flow to support and improve quality of life for those in our care.