IRA Charitable Rollover

If you are 70 1/2 years old or older,  you can take advantage of a simple way to benefit the lakes you love and receive a tax benefit in return. You can give up to $100,000 from your IRA directly to a qualified charity such as NH LAKES without having to pay income taxes on the transfer.

Why consider this type of gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize.
  • This law no longer has an expiration date. So, even if you  have taken your required minimum distribution for this year, you can take advantage of this law next year or at some other time in the future.

Frequently Asked Questions

Q. Can my gift be used as my required minimum distribution under the law? 

A. Yes, absolutely. That is the beauty of this law. If you have not taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement. You must contact your IRA custodian to complete the gift to ensure the transaction is performed correctly.

Q. I’m turning 70 1/2 in a few months. Can I make this gift now? 

A. No. The legislation requires you to reach age 70 1/2 before you make the gift.

Q. I’ve already named NH LAKES as a beneficiary of my IRA. What are the benefits of making a gift now during my lifetime? 

A. Because you get to see your donation at work today!

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only.