{"id":15157,"date":"2020-03-23T10:00:07","date_gmt":"2020-03-23T14:00:07","guid":{"rendered":"https:\/\/www.vrg.org\/blog\/?p=15157"},"modified":"2020-03-05T12:42:26","modified_gmt":"2020-03-05T17:42:26","slug":"charitable-ira-rollover-donor-advised-funds-2","status":"publish","type":"post","link":"https:\/\/www.vrg.org\/blog\/2020\/03\/23\/charitable-ira-rollover-donor-advised-funds-2\/","title":{"rendered":"CHARITABLE IRA ROLLOVER DONOR ADVISED FUNDS"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"293\" height=\"300\" src=\"https:\/\/www.vrg.org\/blog\/wp-content\/uploads\/2020\/03\/vrglogogreensmall-293x300.jpg\" alt=\"\" class=\"wp-image-15158\" srcset=\"https:\/\/www.vrg.org\/blog\/wp-content\/uploads\/2020\/03\/vrglogogreensmall-293x300.jpg 293w, https:\/\/www.vrg.org\/blog\/wp-content\/uploads\/2020\/03\/vrglogogreensmall-768x786.jpg 768w, https:\/\/www.vrg.org\/blog\/wp-content\/uploads\/2020\/03\/vrglogogreensmall.jpg 921w\" sizes=\"auto, (max-width: 293px) 100vw, 293px\" \/><\/figure>\n\n\n\n<p>Because the standard deduction has been raised to over $12,000\nfor individuals and over $24,000 for married couples filing jointly, some\npeople may lose the advantage of deducting charitable donations, since their\nitemized deductions won&#8217;t exceed those amounts. <br>\n<br>\nSo for donors who are over 72 years old, they may want to use the charitable\nIRA rollover. The charitable IRA rollover is a distribution from an individual\nretirement account directly to a charity, such as The Vegetarian Resource Group.\nThe distribution from the plan administrator directly to the charity counts\ntoward the donor\u2019s required minimum distribution for the year, but the\ncharitable donation is not included in the donor\u2019s adjusted gross income. <br>\n<br>\nOthers may use a donor-advised fund. Donor-advised funds (DAFs) are accounts\nwhere the donors can advise on where and when to distribute funds. Donors claim\nthe charitable deduction in the year the money is transferred to the DAF even\nthough the funds have not been given to the final specific charities. This\nallows donors to consolidate several years of charitable gifts into one year for\ntheir income tax returns. For example, married donors who usually give $3,000\nper year to their favorite charitable organization can create a Donor-Advised\nfund, deposit $21,000 in it for a current year tax deduction, and then\ndistribute $3,000 per year as annual gifts in future years. For example, here\nis information about a few Donor Advised Funds. <\/p>\n\n\n\n<p><a href=\"https:\/\/www.fidelitycharitable.org\/philanthropy\/what-is-a-donor-advised-fund.shtml\">https:\/\/www.fidelitycharitable.org\/philanthropy\/what-is-a-donor-advised-fund.shtml<\/a>\n<br>\n<a href=\"https:\/\/www.schwabcharitable.org\/public\/charitable\/donor_advised_funds\">https:\/\/www.schwabcharitable.org\/public\/charitable\/donor_advised_funds<\/a>\n<br>\n<a href=\"http:\/\/programforgiving.org\/charitable\/pages\/home.jsp\">http:\/\/programforgiving.org\/charitable\/pages\/home.jsp<\/a>\n<br>\n<br>\nThis is not legal or tax advice. You should speak to your legal or tax advisor.<\/p>\n\n\n\n<p>To donate directly to The Vegetarian Resource Group, go to <a href=\"http:\/\/www.vrg.org\/donate\">www.vrg.org\/donate<\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Because the standard deduction has been raised to over $12,000 for individuals and over $24,000 for married couples filing jointly, some people may lose the advantage of deducting charitable donations, since their itemized deductions won&#8217;t exceed those amounts. So for donors who are over 72 years old, they may want to use the charitable IRA [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15157","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts\/15157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/comments?post=15157"}],"version-history":[{"count":1,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts\/15157\/revisions"}],"predecessor-version":[{"id":15159,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/posts\/15157\/revisions\/15159"}],"wp:attachment":[{"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/media?parent=15157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/categories?post=15157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrg.org\/blog\/wp-json\/wp\/v2\/tags?post=15157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}