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Give from Your IRA

You may recall that the IRA Charitable Rollover was a temporary provision, first enacted as part of the Pension Protection Act of 2006 –– the same bill that initially gave us the expanded conservation tax incentive!  The IRA provision, much like the conservation tax incentive, initially expired after December 31, 2007 and both were extended  through Dec. 31, 2009.

Status Update

The House of Representatives passed HR 4213 in December 2009, which would extend both the conservation tax incentive and the IRA Rollover for one year, retroactive to January 1, 2010. After making amendments, the Senate passed its version of the legislation on March 10. Because the Senate and House bills use different provisions to offset the costs of these "extenders," the two bodies must find a compromise before the bill can be enacted into law. Action on the legislation is expected to resume when Congress returns from its spring recess.

How the IRA Charitable Rollover Works

The $700 billion economic bailout bill (H.R. 1424) passed last autumn included a two-year extension of an IRA provision that offers you a rare tax break when you invest in the land trust community’s good work.

If you are 70½ years of age or older, the provision permits you to make direct contributions from your traditional individual retirement account or Roth IRA to a charitable organization of your choice –– up to $100,000 per year in 2008 and 2009.

These direct charitable contributions are excluded from your taxable income!

One essential detail: your plan administrator must issue the check directly to the charity. And because your contribution is not taxable income, you cannot claim an additional charitable deduction. Examples show, however, that gifting funds directly from your IRA is one of the most tax beneficial means of charitable giving.

Consult your plan administrator or your tax advisors for more information about this provision. More

We hope you will take advantage of this special opportunity to impact conservation.  Please consider the Land Trust Alliance and your local land trust with your generous contributions.

Questions? Email donor services.

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