Here is some good news if you are over 70 ½ and required to take a distribution from your IRA. These required minimum distributions are fully taxable as income. However, you may direct your IRA plan provider to make a ‘qualified charitable distribution’ and thereby reduce your taxable income. HVO is a 501(c)3 organization and is eligible to receive such a rollover.
Here are some benefits:
For more information on the process, contact your IRA plan provider or your financial advisor. For a sample request letter, click here.
Thank you for thinking of HVO.