Flash! Your MRD May be Tax-Free After All!
On January 1, 2013, both the Senate and House passed the American Taxpayer Relief Act of 2012 (ATRA). This means that the IRS provision for Qualified Charitable Contributions (QCD) from an IRA has been extended to the end of calendar year 2013. (See the National Association of Personal Financial Advisors newsletter at http://www.figuide.com/qualified-charitable-contributions-from-your-ira-in-2012-and-2013.html)
The IRS QCD provision is available through the end of this year under normal rules. This means that, if you’re age 70 1/2 or older, you can make direct distributions from your IRA to UUCMP and not count the distributions as income (and of course you cannot also itemize the gift as a charitable contribution).
You may want to check with your financial advisor to be sure that you qualify and that this procedure is appropriate for your situation.
Judy Lind, for the Finance CommitteeWHO TO CONTACT Treasurer, Lynne Powers Stewardship Committee Konny Murray, Chair Mary Beard Carol Collin Nicole Garzino Peggy Hansen Sarah Hardgrave Judy Lind Carol Meyer John Buehrens Capital Fund Mary Beard, Chair | Endowment Fund Fran Gaver, Chair Finance Committee Judy Lind, Co-chair Fran Gaver, Co-chair Mary Beard Fran Gaver Carol Meyer Lynne Powers (Treasurer) Canvass Team (under the Finance Committee) Carol Collin, Co-chair Judy Lind, Co-chair |