Missouri S&T

 

IRA Charitable Rollover Provision Extended Through 2011

The 2010 Tax Relief Act signed into law on December 17, 2010, has reinstated the popular IRA charitable rollover provision. If you are aged 70½ or older you can make tax-free gifts from your traditional IRA to Missouri S&T, the Miner Alumni Association and other qualified charities through 2011.

A qualified charitable distribution has several potential advantages:

  • Charitable distributions can be used to satisfy the required minimum distribution of an IRA account without creating taxable income.
  • Each individual can donate as much as $100,000 per year to qualified charities, such as Missouri S&T and the alumni Association, from IRA accounts.
  • IRA distributions do not count toward the limit on charitable deductions an individual may claim against their income taxes.

The new law also has an unusual provision that will allow IRA donations made during January 2011 to be counted as if they were made during the 2010 tax year.

Both Missouri S&T and the Miner Alumni Association are eligible recipients of qualified charitable distributions from an IRA. You may direct your IRA transfer to any fund at either entity. For example, you may want to create an endowed fund that will be invested to provide permanent funding for scholarships in your name.

For more information on IRA Charitable Rollovers you may contact Greg Harris at gfharris@mst.edu or 800-392-4112.

 

Missouri University of Science and Technology
1201 N. State Street | Rolla, MO 65409 | 573-341-4111 | 1-800-522-0938
©2010 Curators of the University of Missouri | UM System | Intellectual Pluralism
MissionDMCAEEOCDisability ResourceContact S&T