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Signed into law in August of 2006, this
pension reform bill includes several giving incentives, including
the IRA rollover provision. This offers the donor an exclusion
from gross income for certain distributions of up to $100,000 from
a traditional individual retirement account (IRA) or a Roth IRA,
which would otherwise be included in income. The provision
is effective only for 2006 and 2007 and only applies to donors age
70½ and older. Rollover payments must be made directly
to Saint Clare’s Hospital.
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