IRS 2012/2013 IRA Charitable Deduction Guidelines Released

Spaatzen,

The American Taxpayer Relief Act of 2012 reinstated the IRA charitable rollover for 2013 and made it retroactive for 2012.  For the 2012 tax year only, IRA owners can choose to report qualified charitable distributions made in January 2013 as if they occurred in 2012.  Many of you have had questions over the past couple weeks about the documentation necessary to make sure the qualified charitable distributions are made retroactive for 2012.

The IRS just released guidelines for IRA charitable donations for 2012 and 2013.  You can review the guidelines on the IRS website here. These are important guidelines for donors to follow to ensure that qualified charitable distributions made in January 2013 are counted for the 2012 tax year.

If you are interested in more information on including the Association in your estate plan, please see our member donations page.

Questions?  Please consult your tax professional.

v/r
MJH

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