Are you 70 ½ or older? You may consider giving a tax-efficient gift from your IRA to the Paul Taylor Dance Foundation. The IRA charitable rollover rule has recently become permanent.
Requirements and Restrictions apply:
- You must be 70 ½ years or older
- You must make your gift directly from your IRA account
- Gifts to all charities cannot exceed a total of $100,000 per taxpayer per year
- Gifts cannot be made to a donor’s advised fund, supporting organization, or his/her private foundation
- No charitable deduction is allowed, and it is not included in taxable income
- Other retirement accounts (i.e. 401(k), 403(b)) are not eligible
- Charities cannot provide the donor with material benefits
To make a gift, please contact your IRA administrator to request a direct charitable distribution to the Paul Taylor Dance Foundation, including the amount you wish to donate. The letter should include our:
Tax ID #: 13-2665475
More information on the IRS’ website about Qualified Charitable Distribution can be found here.
The information provided does not constitute legal, tax, or other professional advice and should not be relied upon as such. Always consult your own advisor before making any gift that has tax implications, particularly where your state’s income tax law may differ from the federal law.