If you are 70½ or older and own an IRA, you can transfer funds directly from your IRA directly to a qualified nonprofit, Cure LBSL included. This IRA Qualified Charitable Distribution (QCD), sometimes called an IRA charitable rollover, will count against your required distribution, reducing your adjusted gross income for taxes. You must act before Dec. 31 to benefit. Best of all, it is an easy way to help support LBSL research!

Here is a recap of the details:

• Donors must be 70½ or older.

• Funds must come from a traditional IRA.

• 401(k), 403(b), and other retirement plans do not qualify for the IRA Charitable Rollover.

• The maximum gift transfer is $100,000; there is no minimum.

• Transfers must go to a recognized charitable organization.

• Donors do not need to transfer their entire Required Minimum Distribution (RMD) as a charitable gift. You can split your RMD between personal income and a donation.

• The transfer counts toward your RMD which reduces your taxable income.

• The gift must be processed before the end of the calendar year.

• You must request the IRA Charitable Rollover through you plan’s account representative and have the money sent directly to the charity. Be careful! The money cannot go to you first.

Download a sample letter to mail or email your IRA administrator.

If you have any questions about the IRA Charitable Rollover, talk to your financial planner.