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Stewardship Ideas

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December 12, 2013 9:00 pmtoMarch 12, 2014 9:00 pm

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Stewardship Ideas
IRA Charitable Distribution
Current tax law provides those over age 70 1/2 with an opportunity to exclude from your taxable income a qualifying gift through your IRA, which means you will not pay tax on the distribution. This gift opportunity is available for all IRA owners in all tax brackets. The gift from your IRA can also count as a portion or all of your minimum required distribution.
Requirements:
• You must be at least 70 1/2 years of age and
own the IRA.
• You must direct your IRA administrator to send
your gift directly to the church or charitable organization; you may not receive the funds.
The income tax exclusion applies only to traditional and Roth IRA distributions that would otherwise be taxable.
If you would like further information or to discuss a gift to the Trinity Presbyterian Church, please contact our Stewardship Commission: Mary Murphy (533-8632) and Jim Morrell (589-3005).

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