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IRA transfers

IRA Charitable Transfer

Do you have an IRA and you are 70 ½? Then you must take the distribution, but what if you don’t need or want the income? You can assign your distribution to the California Council on Science and Technology and avoid the distribution counting towards your taxable income!

Charitably minded taxpayers have enthusiastically embraced the IRA charitable rollover as an opportunity to transfer up to $100,000 each year to charity without it being treated as a taxable distribution.


The requirements and restrictions for making an IRA charitable rollover gift are:

  • Donor must be 70 ½ or older.
  • The gift must be made directly from the IRA to an eligible charitable organization; if you take possession of the funds first, then it is a taxable distribution to you. Transfer directly to CCST to avoid taxable income.
  • Gifts to all charities combined cannot exceed a total of $100,000 per taxpayer for the year.
  • Gifts must be outright, and no material benefits can be received in return for the gifts. Thus a transfer for a gift annuity, charitable remainder trust, or pooled income fund is not permitted.
  • Gifts cannot be made to a donor advised fund, supporting organization, or private foundation.
  • The gift is not included in taxable income, and no charitable deduction is allowed.
  • The gift can only be made from an IRA. Gifts from 401(k), 403(b), and 457 plans are not permitted.

If you meet the above conditions this may be the right gift for you to make if:

  • You want to make a charitable gift and your IRA constitutes the largest share of your available assets.
  • You are required to take a minimum distribution from your IRA, but you do not need additional income.
  • You do not itemize your deductions. In that case a personal IRA distribution increases your taxable income without the benefit of an offsetting deduction. An IRA charitable rollover will not be included in your taxable income even if you do not itemize other deductions.
  • You would like to make an additional charitable gift, but it would not be deductible because of the annual limitation of 50% of adjusted gross income for charitable contributions. The IRA charitable rollover is equivalent to a deduction because it is not included in taxable income.
  • You have an outstanding pledge to a charity. The IRA charitable rollover can satisfy a pledge without violating rules against self-dealing.

If you want to make a qualifying transfer gift, contact your IRA administrator and instruct that person to transfer funds to CCST.

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