If you are subject to a Required Minimum Distribution (RMD), you may be able to make charitable contributions from your traditional or inherited IRA, potentially reducing your taxable income. You may also qualify to donate up to $111,000 ($222,000 for married couples) directly to charitable nonprofits from your individual retirement accounts without it being treated as taxable income. One essential detail — your plan administrator must issue the check directly to the charity.

Studies show that gifting funds directly from your IRA is one of the most tax beneficial means of charitable giving. While this donation cannot be claimed as a charitable deduction, donors could realize other benefits by reducing their taxable income in this way.

Consult your plan administrator or your tax advisors for more information about this provision and specific tax advice.

Please consider the St. Simons Land Trust when making your heartfelt contributions. You can contact Emily Ellison at emellison@sslt.org or call (912) 638-9109 with any questions.

St. Simons Land Trust is a 501(c)(3) nonprofit organization. Tax ID: 58-2598986. Donations are tax-deductible as allowed by law.