IRA Rollovers

A Tax-Smart Way to Support Maine Public The IRA Charitable Rollover can provide you with an excellent opportunity to make a gift during your lifetime from an asset that would be subject to several levels of taxation if it remained in your taxable estate. Under The Protecting Americans from Tax Hikes Act of 2015 – now with no expiration date – donors over the age of 70½ can distribute up to $100,000 in a calendar year from an IRA to Maine Public or other charities, tax-free. This distribution to charity can be a significant benefit for IRA owners who are required each year to take minimum required distributions, which are included in their gross income for income tax purposes.