Charitable IRA Rollover
If you are at least 70½ you can now make tax-free gifts directly from your IRA to Idaho Public Television as a Qualified Charitable Distribution.
That way, your Required Minimum Distribution (RMD) won't be taxable income, but WILL make a difference! It's a smart way to not only enjoy tax savings but also support the value of public television.
Here's How It Works:
- You must be 70½ or older to make an IRA rollover gift to a public charity, like IdahoPTV.
- You can give up to $100,000 from your Traditional or Roth IRA.
- Instruct your plan administrator to send a specific dollar amount directly to Idaho Public Television. Your administrator can send the gift by check or electronic transfer.
- All the information you need to initiate a charitable rollover directly from your IRA to Idaho Public Television can be found in this sample letter to your IRA custodian.
- Notify us of your intent to give by sending a copy of your completed request to email@example.com
or mail to: Idaho Public Television at 1455 North Orchard Street, Boise, ID 83706.
Benefits to You:
- Each dollar of your donation will count towards your required minimum distribution for the year.
- You can exclude up to $100,000 of this gift from your Federal gross income - resulting in lower taxable income and possible tax savings
- You will have the personal satisfaction of doing more for our community.
- Please consult with your financial advisor about your particular tax situation.
Tip: This tax savings is especially valuable to donors who are non-itemizers and donors who have reached their limit on itemized charitable deductions.