Support People with Lupus With a Distribution From Your Traditional IRA
If you are 70½ or older, you can give a give a gift to the Lupus Foundation of America as a way to fulfill your required minimum distribution (RMD). Even if you do not itemize your taxes, the gift distribution will not be considered taxable income. You can donate up to $100,000 tax-free annually.
You should consult with your financial advisor or tax planner to see if this is a useful giving tool for you.
- Transfers must be made directly from a traditional IRA account by your IRA administrator to the Lupus Foundation of America.
- Gifts must be outright. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities do not qualify.
- Gifts from 401k, 403b, SEP, and other plans do not qualify. Ask your financial advisor if it would be right for you to create a traditional IRA account so you can benefit from the IRA Charitable Transfer.
- IRA Charitable Transfers are excluded gross income for federal income tax purposes on your IRS Form 1040. You receive no charitable deduction.
Learn the many different ways you can support people with lupus and fund vital research.