The Charitable IRA Rollover

Nov 16, 2018

If you’re 70 ½ or older you can use your IRA to make charitable gifts and possibly save on your income taxes.


Charitable IRA rollovers are popular for the following reasons:

  • Pay no tax on the charitable distribution.
  • Standard Deduction Benefit – With a charitable IRA rollover, you may take the standard deduction and still receive tax benefits for your gift.
  • Lower Tax on Social Security – By reducing your taxable income, a charitable IRA rollover can also reduce the amount of Social Security taxes you pay. They may also help you avoid the 3.8% Medicare surtax on investment income.
  • High Limits on Giving – With a charitable IRA rollover, you may give more than the usual deductible amount. Your charitable IRA rollovers this year can be any amount you choose, up to a total of $100,000.

Options to Support Your Cause

You can give directly to nonprofits of your choice or you may give to the Community Foundation and select the charitable cause you care about, such as supporting the arts, our environment, or feeding kids at-risk of hunger. It’s important to note that donor-advised funds do not qualify for tax-free IRA transfers and remember to start the process early as charitable rollovers can take in excess of 4 weeks to complete.

Contact Philanthropic Services Director, Sam Leask, to Learn More.

Email Sam

Written by

Sam Leask

The Community Foundation is ready to answer any questions you might have on taking advantage of the charitable IRA rollover opportunity. Since each person’s situation is unique, we always recommend that you discuss the benefits of an IRA rollover with your personal professional advisor before making a gift.

Please contact Sam Leask, Philanthropic Services Director, at or (831) 662-2060.