RZIM IRA Giving Information

A gift in the form of an IRA withdrawal has many benefits. According to the IRS, the amount of the contribution is excluded from your gross income. The tax consequences, which would ordinarily apply to IRA withdrawals, do not apply. While you will not receive a charitable deduction for the gift, giving to RZIM may potentially help you avoid income and estate taxes. Your gift is also tax-free to RZIM.

The donation to RZIM must:

1. Come from an IRA owner who is age 70.5 or older;

2. Be from a traditional IRA or a Roth IRA;

3. Be given directly to the charitable organization without you possessing it at any time; and,

4. Cannot exceed $100,000.

Please note, RZIM does not offer legal advice, accounting advice, or financial planning services. We urge you to seek professional counsel in making estate planning decisions or charitable gifts.