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Age Has Its Privileges

November 16, 2018

(Please consult your financial advisor).

lf you’re 70-1/2 or older, an IRA Charitable Rollover gift can help you support Cedar Lane’s Capital Campaign and/or your pledge to the Annual Fund.

If you are 70 1/2 or older, making an IRA rollover gift is a great way for you to support Cedar Lane Unitarian Universalist Church!

The IRA rollover allows donors who are 70½ or older to transfer a maximum of $100,000 directly from their IRA to qualified charity (ies) each year.

You pay no income tax on the gift. The transfer generates neither taxable income nor a tax deduction. The “qualified charitable distribution” (QCD) will count as your required minimum distribution without being added to your adjusted gross income, which can be a boon if you're going to take the new, higher standard deduction instead of itemizing. Make your QCD well in advance of New Year’s Eve because the money has to be out of your account and the check needs to be cashed by the charity by December (12/2018 Kiplinger’s Personal Finance, p.33)

An IRA rollover gift can be used to meet all or part of an IRA required minimum distribution.

If you made a gift directly from your IRA to Cedar Lane at any point during 2018, your gift will qualify as a rollover gift.

To make an IRA rollover gift, instruct the custodian of your lRA to make a direct transfer gift from your IRA payable to: Cedar Lane Unitarian Universalist Church, 9601 Cedar Lane, Bethesda, MD 20814. Our Tax ID number is 52-0629773. Inform executive director Jen Morley of your intentions and the name of the custodian of your IRA. Questions? Contact Executive Director Jen Morley at jmorley@cedarlane.org or 301-493-8300 x209.