IRA ROLLOVER DISTRIBUTIONS

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:

• Avoid taxes on transfers of up to $100,000 from your IRA to HVO.
• Satisfy your required minimum distribution (RMD) for the year.
• Reduce your taxable income, even if you do not itemize deductions.
• Make a gift that is not subject to the deduction limits on charitable gifts.
• Help further the work and mission of HVO.

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!