Who is eligible to make a tax-free rollover gift from an IRA?
If you have reached age 70 by the date of your contribution and have an IRA, you can take advantage of this special charitable giving opportunity. (You don’t qualify until you are actually 70-1/2, even if you will reach that magic age later in the year.) The money must come out of an IRA as opposed to a 401(k) plan, 403(b) tax-sheltered annuity plan, or any other employer-sponsored retirement plan. The rollover money must pass directly from the IRA trustee to the recipient charity. If you take a distribution and then pay the money over to a charity it won’t be treated as a Charitable Rollover or receive the associated benefits.
