IRA Charitable Rollover Provision Can Help Your Favorite Charity
On January 2, 2013, as part of legislation to resolve the so-called “fiscal cliff,” Congress reinstated the Individual Retirement Account (IRA) Qualified Charitable Rollover provision, which allows individuals aged 70 ½ or older to make charitable donations directly from their IRA without recognizing income. The prior law expired on December 31, 2011, but Congress just reinstated it retroactively for 2012 and extended it for all of 2013. Click here to visit the official IRS website and learn more!
If you are aged 70 ½ or older, you can make a charitable donation directly from your IRA to the Foundation for Mitochondrial Medicine. The Qualified Charitable Rollover provision is in effect for all of 2013, so FMM encourages you to consider taking advantage of this highly beneficial tax rule, and use your IRA to help support FMM’s priorities of raising awareness for mitochondrial disease, fueling connections and funding the cures.
Please contact the Foundation for Mitochondrial Medicine with any questions or for additional information.