IRA Rollover

Deadline is Jan. 31 for Tax Break.

Last-minute legislation enacted by Congress as part of the fiscal cliff deal extends the IRA charitable rollover that allows people 70 ½ and older to transfer as much as $100,000 per year for tax years 2012 and 2013 from their traditional IRAs to nonprofits.

If you rolled over a gift from your IRA to McDaniel College in 2012, that gift will be protected under the changed law. Should you wish to make a distribution for 2012 from your qualified plan you can still do so prior to January 31, 2013.

Contact Director of Major and Planned Giving Robert Conrad at bconrad@mcdaniel.edu or 410-857-2787 to learn more.