IRA Charitable Rollovers 2013
The tax package known as “The American Taxpayer Relief Act of 2012” passed by Congress last year renewed the ability to make tax-free distributions from Traditional or Roth Individual Retirement Account (IRA) assets to certain qualified charitable organizations, such as The University of Alabama, through 2013.
Those interested may request direct transfers from their IRA in any amount up to $100,000 to a charity before December 31, 2013, without reporting it as taxable income. This provision applies to people age 70 ½ or older at the time the transfer is completed. Thus, it may be possible for couples who each have separate IRA accounts to transfer up to $200,000.
We encourage you to check with your advisors about the best ways for you to take advantage of this opportunity as you consider gifts to the University and other charitable interests that are important to you.
It is simple to make a transfer. Contact your account administrator to request a check be delivered to:
The University of Alabama
Tax Identification # 63-6001138
Attn: Gift Planning Office
Tuscaloosa, Alabama 35487
Thank you for your support of The University of Alabama. In the event we may be of service regarding the Charitable IRA or other giving options, please contact our planned giving staff without obligation toll free at (888) 875-4438 or local at (205) 348-0999 or email at email@example.com.