What is an IRA charitable rollover?
IRA rollover allows those age 70 1/2 to make gifts directly from their IRAs, providing significant tax savings. IRA owners aged 70 1/2 and older can distribute money directly from their IRA to qualified LCMS ministries
(congregations, schools, etc.). Spouses can each give up to $108,000 annually with IRA rollovers. Making an IRA rollover gift has two main advantages. First, the rollover counts toward satisfying your yearly required minimum distribution (RMD). Second, the distribution is excluded from your taxable income.
In the example to the right, an IRA rollover gift of $20,000 results in $50,000 excluded from taxable income. *$30,000 is for married couples filing jointly.
What are the tax benefits?
By using a required minimum distribution from an IRA to make a gift to ministry, when filing jointly you can receive 2025’s standard deduction of $30,000, plus exclude the amount gifted in the rollover from your taxable income. In the example to the right, an IRA rollover gift of $20,000 results in $50,000 excluded from taxable income.
How does the process work?
Gift planning counselor Mark Muehl will help you through the entire process. It is easy, confidential, and there is no charge for his services.
Mark Muehl
Gift Planning Counselor
Phone: 260-241-4845
Mark.Muehl@LFND.org