If you are 70-1/2 years or older, you may satisfy up to $100,000 of your annual IRA Required Minimum Distribution by instructing your IRA Trustee to make contributions directly to JFGH. Such Qualified Charitable Distributions are not treated or included as income for both your Federal and most State (including DC, MD and VA) tax returns. You may find this approach preferable to making deductible charitable contributions and certainly so if you elect the Standard Deduction in lieu of itemizing your deductions. Consult your professional tax advisor for the full details.
JFGH is not a financial, legal or tax advisor. To find out whether the IRA Charitable Rollover law can benefit you, please contact your personal tax advisor. You can also contact our Development Team at 240.283.6000.