American Taxpayer Relief Act of 2012
Donors who own a traditional or Roth IRA can make a tax-free transfer of up to $100,000 to a public charity, such as the University of Washington, through December 31, 2013.
- Donors must be 70 1/2 on the date of the gift
- Funds must be transferred directly to the UW from an IRA or Roth IRA
- Up to $100,000 per donor may be contributed per year
- The donor recognizes no taxable income on the transfer, but cannot claim an income tax deduction for the gift
- The distribution can count toward the mandatory IRA withdrawal amount.
For a letter of instruction or more information, please contact the Office for Planned Giving