Are there any IRA transfers to Akron Community Foundation that do not qualify for preferred tax treatment?
Yes. Transfers to supporting organizations and donor-advised funds do not qualify. In addition, split interest gifts, such as charitable annuities, charitable lead trusts and charitable remainder trusts, do not qualify. Further, an individual may not receive a benefit in return for an IRA distribution. Because such transfers do not count as qualified distributions under these special rules, the donor will have to first recognize those distributions as income. The donor’s charitable deduction must then be calculated as a regular itemized deduction. Learn more at our planned giving site.
