Individuals age 70.5 and older can distribute up to $100,000 from their IRAs to Western North Carolina AIDS Project without counting
the distribution as income.
Good News:
The ability to make a gift directly from IRA accounts is now a permanent part of the U.S. tax code. The gift amount counts toward your
Required Minimum Distribution (RMD), and your taxable income is lowered by the amount of your qualified charitable distribution (QCD).
Important points to consider:
• Gifts must be completed before December 31 to be eligible in the current tax year.
• You must be at least age 70½.
• The gift should come directly from your IRA account, in the form of a check.
• The gift may come from a Traditional or a Roth IRA (special exclusions may apply to other types of IRA accounts).
• Although there is no tax deduction, there is NO income tax on the withdrawal.
How do I give?
Please have your IRA plan administrator send a check to:
WNCAP
P.O. Box 2411
Asheville, NC 28802
Accompanying paperwork should identify your name and address and WNCAP’s Tax ID # is 58-1772685.
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