SHOREVIEW COMMUNITY FOUNDATION IRA Charitable Distribution Make a tax-free gift to the Shoreview Community Foundation from an IRA in 2019 Individuals who are age 7012 or older can make gifts of up to $100,000 directly from their IRA to one or more qualified charities, without paying federal income tax on the withdrawal. This option provides tax savings to donors even if they do not itemize deductions. Details Donors must be age 701/2 or older at the time the gift is made The funds must be transferred directly to a qualified public charity. It is important not to withdraw the funds before making a gift. Gifts cannot be used to fund a gift annuity or charitable remainder trust. Each donor may give up to $100,000 per year. Gifts can be used to satisfy the donor's required minimum distribution. Donors can exclude the distribution from income on their federal tax returns. If they do, they will not receive a charitable income tax reduction To qualify for tax-free treatment, donors cannot receive goods or services, or a personal benefit (such as tickets for events) in return for the IRA charitable distribution Contact the Shoreview Community Foundation at www.shoreviewcommunityfoundation.org The Shoreview Community Foundation does not give tax or legal advice We recommend that donors consult their own professional tax advisor before making a gift.