For PCAL donors 70.5 years or older, you can use your Individual Retirement Account (IRA) to make a charitable gift to Prevent Child Abuse Louisiana and help us further our mission to prevent the abuse and neglect of our state’s children.
Current legislation allows individuals 70.5 and older to make a direct transfer of up to $100,000 from the IRA to PCAL without having to recognize the transfer as taxable income. Consider the IRA charitable rollover if you have excess IRA funds, or want to lower the amount of your required minimum IRA distribution (RMD). While there is no charitable deduction, there is also no tax when the distribution is a direct charitable rollover. You can use your IRA to make a gift to and advance the mission of PCAL.
- You must be at least 70.5 years of age
- Tax benefits apply for gifts that total up to $100,000 per person, per year
- You must transfer funds directly from an IRA to one or more eligible charitable organizations
The law is applicable solely to make direct gifts to charity, not for planned gifts such as charitable gift annuities or charitable remainder trusts. Gifts cannot go to donor-advised funds or private foundations.
This is an easy way to benefit Prevent Child Abuse Louisiana without tax complications.