IRA Charitable Rollovers

The IRA Charitable Rollover Returns for 2008 and 2009!

This Giving Option Can Help You Make a Generous Gift to CAP

Congress has extended a law that allows individuals 70.5 or older to make tax-free gifts now to qualified charitable organizations like CAP using funds transferred directly from their IRA's. You can transfer any amount up to $100,000. There is no income tax deduction for the distribution to CAP because the gift comes from IRA funds that have never been taxed.

Also, the distribution counts towards fulfilling your required minimum distribution known as RMD from your IRA in the current tax year. The distribution is excluded from your gross income for federal tax purposes which is a real advantage at tax time. You benefit regardless of whether you itemize your tax deductions or not.

Most important you will have the satisfaction of helping CAP build a new shelter and save the lives of more animals. Thank you.