Under the law, commonly referred to as H.R. 4, each person over the age of 70½ with an IRA (Traditional or Roth) can make contributions to charities directly from his or her IRA up to a total of $100,000 per year without incurring income tax.
This contribution will also count against your minimum required distribution amount for the year. A qualified charitable distribution does not result in income to the donor and does not count against your adjusted gross income limitation. Therefore, you deduct the contribution regardless of whether you have maximized your charitable giving for the year.
As a 501 (c)(3) organization, Chaffee County Habitat for Humanity is an eligible recipient of these gifts. Won’t you consider making a life-changing difference for a family in need with a gift from your IRA? For more information on making a donation, please call Jill Smola, Executive Director at (719) 395-0482 or email jill@chaffeehabitat.org.
