With only days left to 2017, many are considering their year-end charitable contributions.
You can help us spur on ovarian cancer research with a donation to MOCA – or by making a gift of stock of a gift from your IRA to MOCA.
Making a gift of stock, bonds or mutual funds usually results in a tax deduction for the full fair market value.
If you are 70 ½ years of age or older, making a gift of assets from your IRA counts towards your Required Minimum Distribution.
While charitable contributions are limited to 50% of your annual Adjusted Gross Income (AGI), a contribution from your IRA is not limited in this way. A contribution from your IRA lowers your AGI, which is more valuable than taking a charitable deduction, and the distribution is tax-free.
Questions about giving a gift of stock of an IRA distribution to MOCA before December 31? Call the MOCA office at (612) 822-0500 or email us.