The Tax-Free IRA Charitable Rollover is Back

You may realize extra benefits by making a gift from your IRA to Miami University, thanks to the IRA charitable rollover extension. If you are 70 ½ years of age or older, you may take advantage of making a tax-free rollover of up to $100,000 ($200,000 if you and your spouse have separate IRAs). Under this new legislation, these gifts count toward your required minimum distribution for 2008 and are excluded from your gross income.

"This is a great opportunity for our alumni. It allows them to enjoy the tax benefit of reducing their income, even if they don't itemize on their federal tax return," said Melanie Parscal, director of gift planning at Miami. "It's a great opportunity to support Miami as well."

To qualify for benefits under the extension:

• You must be 70 ½ or older at the time of the gift
• Transfers must go directly from the IRA to Miami University
• Your total IRA gift(s) cannot exceed $100,000
• Gifts(s) must be outright

Don’t miss this year’s opportunity – contact Miami’s Office of Gift Planning by December 31 by e-mailing GiftPlanning@muohio.edu or calling 513-529-5332.