IRA Rollover
Scroll down to learn more...
Quick Links
What is an IRA Rollover?
An IRA Rollover is a tax-efficient method of transferring funds from one individual retirement account (IRA) to another or to Cure SMA without triggering a taxable event.
- An IRA Rollover allows individuals aged 70½ or older to transfer funds from their traditional IRA directly to Cure SMA without incurring income taxes on the distribution.
- The distribution from the IRA is excluded from the donor's taxable income, providing a tax-efficient way to support Cure SMA.
- IRA Rollovers are subject to annual contribution limits and must be made directly from the IRA custodian to Cure SMA to qualify for tax benefits.
- This strategy is particularly advantageous for donors who are subject to required minimum distributions (RMDs) from their IRAs, as IRA Rollovers can satisfy RMD requirements while supporting Cure SMA.
Benefits from an IRA Rollover:
- Tax-efficient charitable giving: IRA Rollovers allow donors to support Cure SMA without incurring income taxes on the distribution, potentially reducing taxable income.
- Satisfaction of RMD requirements: IRA Rollovers can satisfy required minimum distribution (RMD) requirements for individuals aged 70½ or older, providing a tax-efficient way to meet distribution obligations.
- Impactful charitable contributions: Donors can make significant contributions to Cure SMA using funds from their IRA, and align them with their philanthropic goals.
- Potential reduction of taxable estate: By reducing the value of the IRA through charitable donations, donors may be able to reduce the size of their taxable estate and estate tax liabilities.
How your donation will benefit the SMA community
- Basic research to pave the way for new SMA muscle treatments and a cure
- SMA advocacy initiatives like caregiving access and transportation
- Improving standardized care for every person with SMA
“If it weren't for Cure SMA, we might not have the treatments in place that have helped my daughter to thrive while living with SMA. I'll forever be grateful and do what I can to support Cure SMA."
How an IRA Rollover Works
An individual aged 70½ or older directs their IRA custodian to transfer funds directly from their traditional IRA to Cure SMA. The distribution is excluded from the donor's taxable income and can be used to satisfy required minimum distribution (RMD) requirements. IRA Rollovers must be made directly from the IRA custodian to Cure SMA to qualify for tax benefits.
Direct transfer of funds from a traditional IRA to Cure SMA, excluding the distribution from the donor's taxable income.
Direct transfer of funds from a Roth IRA to Cure SMA, typically not subject to income taxes as Roth IRA distributions are generally tax-free.
Contact Us
If you have any questions, would like further information, or want help making your contribution, then please contact us at [email protected] to get started.
Legacy giving typically takes many conversations and is not a fit for everyone. Conversations with Cure SMA about planned giving should be considered general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting, or other professional advice. To determine how a gift or estate planning decision might affect your circumstances, it is expressly recommended that you consult an attorney, financial advisor, or other qualified professional.