The IRS requires all traditional IRA-holders who are 70.5 or older to withdraw money from their IRA. If you don't, you could face a hefty tax penalty, but if you do, the IRS treats that withdrawal as income.But there's another option: If you use that withdrawal to donate to UC and UC Health, the gift is 100% tax free, even if you don't itemize deductions on your return.
The IRS allows all traditional IRA-holders who are 70.5 or older to withdraw money from their IRA to make charitable donations, including to UC and UC Health! The gift is 100% tax free, even if you don't itemize deductions on your return.We've partnered with our friends at FreeWill to provide you with an easy-to-use tool that helps you estimate how much you're able to withdraw and, if you are so moved, complete your gift to UC and UC Health. Check it out now!