This charitable giving opportunity is available to individuals age 70-1/2 or older who want to make tax-free gifts from their IRA. For 2008 and 2009 only, gifts up to $100,000 per year can be donated directly from an IRA to the Alzheimer's Association - Heart of America Chapter without adverse tax consequences. Transfers for 2008 must be made by December 31, 2008.

This gift from your IRA even counts toward your required minimum distribution. Previously, anyone who took a distribution from an IRA in order to make a charitable gift had to report the distributon as taxable income. This law provides that qualified distributions from IRAs are excluded from gross income.

Note: It is very important that the IRA custodian transfer the funds from the IRA directly to the Heart of America Chapter. If an IRA owner withdraws the fund and then contributes this money to the Alzheimer's Association, the withdrawal will be included in the donor's gross income. Please contact your IRA plan custodian or trustee before making any withdrawal. 

• You are age 70-1/2 or older
• You transfer funds directly from your IRA administrator to the Alzheimer's Association - Heart of America Chapter
• Your gift comes from an IRA (traditional, SIMPLE or Roth)
• Your IRA gift is not more than $100,000 per year

You may also be able to convert your
401(k) or 403(b) plan to a traditional IRA and take advantage of this new law.