The Pentera Blog
IRA Rollover Available Through 2011
Congress has taken the following important and favorable actions with respect to the popular tax-free IRA Charitable Rollover that allows taxpayers 70 ½ and older to make direct tax-free transfers to charity from a qualified individual retirement account:
- Extends the option for making tax-free transfers to charity to December 31, 2011.
- Allows transfers to charity made in January of 2011 to be treated as if made in 2010, if the taxpayer elects.
- Provides favorable tax treatment retroactive to January 1, 2010, for direct transfers made to charity during 2010 (prior to enactment of the legislation).
- And any tax-free charitable transfer rollover up to $100,000 counts to satisfy the taxpayer's minimum required distribution for that year.
Special Bonus–Give up to $200,000 (tax-free) in 2011!
You can still make a direct tax-free charitable transfer to charity from your qualified retirement plan in January of 2011 and have it count as a tax-free charitable transfer for 2010 even if you have already taken your minimum required distribution for 2010. This opportunity is only available through January 31, 2011.
What this really means: In 2011 you can actually give charity up to $200,000 tax-free from your qualified retirement plan. How? Simply make a $100,000 direct transfer before January 31, 2011, and elect to treat it as a 2010 transfer and then make another $100,000 transfer by December 31, 2011, and treat it as a 2011 transfer.
Pentera is ready with all of your IRA Rollover marketing needs. Visit www.pentera.com/irarolloverinformation to request to see samples of our postcard and e-postcard design options.
