At year-end 2022, Congress passed the Secure Act. 2.0 which allows for a limited one-time IRA direct rollover to a qualified Charitable Gift Annuity:
- Applies to IRA owners Age 70 1/2.
- Allows a one-time tax-free transfer of up to $50,000 from an IRA to a Charitable Gift Annuity.
- The IRA to Gift Annuity allows payments to the IRA owner and spouse.
- The IRA transfer qualifies as your annual Required Minimum Distribution.
- The IRA to Gift Annuity generates income for life based on the American Council on Gift Annuity rate guidelines.
Contact Yellowstone Foundation today to learn how you can take advantage of this new charitable gift annuity opportunity.