12/26/2018
With recent changes to tax law, the charitable IRA rollover is more valuable than ever. If you are at least 70 ½ years old, an IRA charitable rollover is a smart way to make gifts to Wentworth-Douglass and enjoy the income tax savings, even if you don’t itemize your deductions.
You may be one of the many who are forced to take more money out of your IRA than you wish. This gift can support WDH and minimize your income tax burden. The benefits to you are:
• Your withdrawal is not included in your income, so it doesn’t affect your taxes.
• It satisfies the required minimum distribution in the year of the gift.
• You have the satisfaction of providing immediate support to WDH.
Consult your IRA administrator’s website for a form to initiate a charitable IRA rollover, also known as a Qualified Charitable Distribution (QCD).
Feel free to contact us with any questions: Maryellen Burke l (603) 609-6654 l Maryellen.Burke@wdhospital.org.