It’s nearing the end of the calendar year and you can take advantage of the now-permanent IRA qualified charitable distribution law to help manage both your charitable intent and your tax liabilities.
The law allows you to “count” charitable contributions made from your traditional IRA toward your required minimum distributions beginning the year you turn 70 ½. By directing your distribution from your IRA administrator directly to a charity, it moves without tax consequence to you or the charity. This is a pretty tax-efficient way to support the causes you care about!
We also hope you will include Luther Seminary among the causes you support. You can use this form to help you do so. It will help you communicate with the custodian of your IRA. Send or fax it to your custodian. Be sure to date and sign it, so it can be considered a legal request for rollover of funds. Dec. 31 is the deadline.
Thank you for your support of this mission. Your gift supporting church leaders will make a difference for years to come.