REDUCE YOUR TAXES WITH AN IRA GIFT

If you are age 73 or older or know someone who is, you may be interested in a way to lower your taxable income and taxes from IRA withdrawals. Through an IRA charitable rollover, you can do both of those things as well as help Prince of Peace continue its life-changing work.

Congress enacted a permanent extension of the IRA charitable rollover. As a result, individuals age 73 or older can make gifts directly from their IRA to a charity.

 

 

Benefits of an IRA charitable rollover

• Avoid taxes on direct transfers of up to $100,000 from your IRA to Prince of Peace
• Satisfy your required minimum distribution (RMD) for the year
• Reduce your taxable income, even if you do not itemize deductions
• Make a gift that is not subject to the 50% deduction limits on charitable gifts
• Help to continue sharing God’s Word and Sacraments here at Prince of Peace

 

 

How an IRA charitable rollover gift works

   Contact your IRA plan administrator to make a gift from your IRA to Prince of Peace.

   Your IRA funds will be directly transferred to Prince of Peace to help continue our important work.

 

Please note that IRA charitable rollover gifts do not qualify for a charitable deduction on Schedule A, Form 1040 of your U.S. individual income tax return.

 

REMEMBER Your gift must be a direct transfer from your IRA to Prince of Peace in order to qualify for this income and tax benefit.

 

Contact a member of the Board of Stewardship or the Treasurer if you have any

questions.

                                       

              The Board of Stewardship