Make a gift through your IRA tax-free – before January 2014 ends!
A special provision of the newly enacted ‘fiscal cliff’ law allows qualifying charitable distributions made to Thomas Jefferson University or Thomas Jefferson University Hospitals, Inc.* during the month of January 2014 to be counted retroactively for the 2013 tax year. Under that provision, eligible taxpayers 70½ and older who make a qualified charitable distribution up to $100,000 during the month of January 2014 can elect to have that distribution treated as if made on December 31, 2013.
In addition, an eligible taxpayer who has taken an otherwise qualifying distribution from an IRA after November 30, 2013 and before January 1, 2014, may transfer any portion of that distribution in cash to a qualifying charitable organization such as Thomas Jefferson University or Thomas Jefferson University Hospitals, Inc.* and elect to have that distribution treated as a 2013 qualified charitable distribution.
Check with your financial advisor about the best way to take advantage of this giving opportunity. State and federal tax laws may affect your plans. You must ask the IRA custodian to send the distribution directly to the charity, rather than sending the money to the charity yourself. For more information about making a gift to Jefferson through your IRA, please contact The Jefferson Foundation at 1-877-JEFF-GIFT.
*Distributions to the following charities do not receive this tax treatment: donor-advised funds, supporting organizations, and private non-operating foundations.
Please contact Fritz Ruccius
for more information. Read more