• IRA Rollover

    Congress Reauthorizes the IRA Charitable Rollover and makes it permanent

IRA Rollover

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Congress Reauthorizes the IRA Charitable Rollover and makes it permanent

We are very pleased to share the news that the Protecting Americans From Tax Hikes Act of 2015 has restored the IRA Charitable Rollover provision. This is good news for donors and for charitable institutions like Luther College.

Since 2006, IRA owners age 70½ and older have been able to make a qualified charitable distribution (QCD) up to $100,000. If you qualify, you are able to make a direct transfer from your IRA to Luther College and avoid income tax on this transfer. This is a convenient and tax-efficient means of providing support.

Additionally, the expiration date for the Extension of Tax-Free Distributions From Individual Retirement Plans for Charitable Purposes (Sec. 112), otherwise known as the IRA charitable rollover, was removed, thereby permanently extending the rollover into the future.

If you have any questions about this new legislation, or if you would like to make a qualified charitable distribution, please call our office at 563-387-1862. Our development team will be more than happy to assist you in your planning. As always, we advise that you consult with your professional advisors with specific questions and for advice regarding your personal circumstances.

Sample template letters for you to send to Luther College to your professional advisor are available for download to your right.

Thank you for all you do to help advance the mission and vision of Luther College. Your generous gifts have been, and will always continue to be, deeply appreciated and gratefully received.