Milwaukee Public Museum

Charitable gift amounts up to $100,000 will not be considered taxable income for the year in which the gift is made.

The announcement of the recently passed IRA rollover legislation for 2008 and 2009 is designed to make charitable giving from a traditional or Roth IRA a simple, attractive option to carry out your charitable planning.

To qualify:

• You must be 70½ years of age or older.
• Funds must be transferred directly from the IRA account to the charitable organization.
• IRA gifts must not exceed $100,000 and must be made before 2010. Up to $100,000 may be distributed for both 2008 and 2009.
• You must transfer the gift(s) outright to the public charity of your choice.

The information on this website and/or during consultation is not intended as legal or tax advice, but as accurate and authoritative general information on planned giving. For legal advice please consult an attorney.