Suppose you have $500,000 in an IRA and will be required to withdraw approximately $25,000 this year, and suppose that you were planning to contribute $20,000 to American Red Cross. You can authorize the administrator of your IRA to transfer $20,000 to the Red Cross and $5,000 to yourself. The $20,000 distributed to the Red Cross will not be subject to tax and will be counted toward his annual minimum distribution.
For more information
See our complete IRA gift transfer instructions, Email us, or call us at (800) 797-8022 Ext. 5 so that we can assist you through every step of the process.