FAQ From You: Can I make a donation from my IRA without being taxed?

Yes, you can! Distributions from Individual Retirement Accounts (IRAs) are generally taxed as income. However, through December of 2011, individuals aged 70 ½ or older can make direct transfers of up to $100,000 from their traditional or Roth IRAs to qualified public charities, such as Interfaith Alliance, without having to count the distributions as taxable income. This is a result of Congress extending the IRA Charitable Rollover provision as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The IRA Charitable Rollover provision allows people to make immediate charitable gifts from their retirement assets when they have been discouraged from doing so previously because of the income tax penalty.