Take Advantage of a Tax-Free Rollover

Now that the market has recovered significantly from its March lows, there is still time left to take advantage of a tax-free rollover of up to $100,000 from your IRA to our institution. But it has to be done by the end of 2009. The law providing this relief expires by the end of December, and Congress has not acted to extend it although there are proposals to do so.

It’s simple and hassle-free. Simply call your IRA administrator with directions to make the transfer directly to our institution.

Another requirement is that this favorable benefit is available to those who are 70½ years of age or older.

And note that there is no charitable deduction available for this gift.

Another option

If your personal portfolio contains long-term appreciated securities, consider making a charitable gift of these assets instead. You receive an income-tax deduction for the full market value and avoid capital-gain tax on any appreciation. You can then replace these investments with the minimum required distribution that you withdraw from your IRA.

Note: If you want to get rid of some of the losers in your portfolio, it’s best to sell those first, realize and claim the loss on your tax return, and give the proceeds of the sale to us, which you can deduct as a charitable contribution.

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