Make a donation from your IRA can be a tax-saving gift

If you are age 70.5 or older you can transfer a gift directly from your IRA to St. Al’s without having to pay income taxes on the money. This type of gift can also count toward your IRA’s required minimum distribution.

If you are age 59.5 you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you are allowed a charitable deduction for the gift.

Your IRA company will have specific instructions for you to authorize a transfer to a qualified charitable organization. IRA assets can be transferred directly to the parish. Making a gift from your IRA is a tax-saving way to help the Church. Your tax accountant will be able to help you determine the tax consequences of each type of gift.

For more details about making a gift from your IRA visit mtucatholic.org/
ways-to-give or contact Rhen at [email protected] or 906-482-5530.