IRA Charitable Rollover
If you are 70½ years old or older, you can take advantage of a simple way to benefit Bethesda Healthcare Group Foundation and receive tax benefits in return. You can give any amount up to $100,000 per year from your IRA directly to Bethesda without having to pay income taxes on the money.
To Qualify:
- You must be age 70 ½ or older at the time of the gift
- Transfers must be made directly from a traditional IRA account by your IRA administrator to Bethesda Health Group.
Benefits to You:
- You pay no income taxes on the gift. The transfer generates neither income nor a taxable deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
- Counts toward your required minimum distribution (RMD) for the year from your IRA.
If you have questions, please contact Linda Sanders, Corporate Vice President and Director of Development, at llsanders@bethesdahealth.org.
