Giving through IRAs is a great way to support the arts while reducing your tax burden.
You can transfer up to $100,000 tax free from your IRA directly to LA Opera if:
- You must be 70½ or older on the day of the gift.
- You transfer up to $100,000 directly from your IRA to one or more qualified charities in the tax year.
- You do not receive any goods or services in exchange for the rollover gifts.
The gift amount will count toward your required minimum distribution in the year you make the gift. The amount won’t be included in your adjusted gross income.
Plan ahead! You’ll be able to make gifts directly from your IRA every year.
For your ease, click below for a sample letter to your IRA Custodian.
Consider naming LA Opera as a remainder beneficiary of your retirement accounts.
To learn more about IRA gifts, get in touch at 213.972.3141 or firstname.lastname@example.org.