A Last Minute Christmas Gift

Congress and the President have brought back the IRA Rollover provision for 2014 only. This rule allows many seniors 701/2 or older to transfer as much as $100,000 a year from individual retirement accounts. What are the requirements?

  • Gift distributions can only be made from traditional and Roth IRA accounts
  • Gifts are tax-free up to $100,000 per year
  • This provision applies only for 2014 and must be made by December 31, 2014
  • Gifts will qualify as part or all of your RMD (required minimum distribution)
  • Gifts must be made outright to a charitable organization, like Wedgwood

 


 

 

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