IRA Rollover Extended for 2008 and 2009
The Emergency Economic Stabilization Act of 2008, as part of the recent $700 billion economic stimulus plan, restored certain important provisions relating to charitable giving, similar to those in the Pension Protection Act of 2006. The bill provided for a two-year extension of the IRA Rollover provision.
If you are 70-1/2 or older and are required to take minimum distributions from your IRAs (unfortunately this does not include 401(k)s or other qualified plans), the law permits you to instruct your IRA custodian or trustee to distribute up to $100,000 in each of 2008 and 2009 directly to the National Domestic Violence Hotline (The Hotline). As long as the distributions come directly from your IRA to The Hotline (they cannot be distributed to you first), you will not have to report the distribution as income for federal tax purposes. This charitable distribution will also count toward your required minimum distribution for the year.
If this donation opportunity is of interest, contact Denise Oviedo at the National Domestic Violence Hotline, 512-685-6285 or doviedo@ndvh.org

