IRA Charitable Distributions

The charitable distribution is a special provision allowing certain donors  to exclude from taxable income—and count toward their required minimum distribution (RMD) - certain transfers of  Individual Retirement Account (IRA) assets that are made  directly to public charities, including Corpus Christi Catholic Church.  Donors age 70 1/2 or older have used this popular option  to support the areas of their choice with tax-wise gifts ranging from $100—$100,000 per individual.  A married couple could contribute up to $200,000 combined.
 
What Gifts Qualify for an IRA Charitable Distribution?
A gift that qualifies, technically termed a “qualified charitable distribution,” is:
· By a donor age 70 1/2 or older
· Transferred from a traditional Roth IRA directly to a permissible public charity, such as Corpus Christi Catholic Church
· Completed during the application tax year
 
How Could This Help Me?
An IRA charitable distribution could likely reduce your taxable income—saving dollars at tax time.

If I Made a Charitable Distribution Gift in Other Tax Years, Can I Do This Again for the Current Tax Year?
Yes. The current law extends the IRA charitable distribution provision indefinitely, allowing individuals to make qualifying gifts every tax year.

Who Can Benefit from Using the Charitable Distribution to Make a Gift:
Persons with assets in an IRA
 
Direct Transfer Instructions:
1. Contact your IRA administrator or financial advisor prior to December 31, 2021—this process can take up to 10 days.
2. The Corpus Christi Catholic Church Federal Tax ID is 59-2308304
3. Gifts can be made payable to Corpus Christi Catholic Church and mailed to:
             9715 N. 56th Street
             Temple Terrace FL 33617
4. Contact a tax professional for any tax-specific questions.
5. For questions regarding IRA charitable distributions, and other convenient ways to include Corpus Christi in your charitable giving, please contact our Business Manager Tom Voiland at 813-988-1593 or e-mail [email protected].