The IRA charitable rollover, which was renewed on December 19, 2014, allows individual taxpayers older than 70 1/2 years to donate up to $100,000 from their individual retirement accounts (IRAs) and Roth IRAs to charitable nonprofits without having to treat the withdrawals as taxable income. The charitable giving incentive expired on December 31, 2014 and must be renewed by Congress before individuals may utilize the incentive. The Council of Nonprofits supports the extension and expansion of the IRA charitable rollover.
The IRA rollover offers older Americans the opportunity to give back to the causes they support in their communities without suffering adverse tax consequences. The giving incentive is of particular value to individuals who do not claim itemized deductions on their tax return because the funds are sent directly to nonprofits from IRA accounts and are never counted as income. See more at: https://www.councilofnonprofits.org/trends-policy-issues/ira-charitable-rollover.