Your IRA can now help A&F and our students

Dear Alumni & Friends,

If  you or a friend are age 70 ½ or older, here is an important tax opportunity that can benefit both you and A&F:

Donors who are age 70 ½ or older can now make gifts to Alumni & Friends directly from their IRAs without including the IRA withdrawal in their taxable income. This provision was passed into law as part of the Pension Protection Act of 2006.

IRA gifts under the new law are most appropriate for donors who:
-Do not need the income from their Minimum Required
Distribution.
-Have a taxable estate and wish to avoid the “double
taxation” of inherited IRAs.
-Do not itemize their deductions on their tax returns.
-Are subject to the Alternative Minimum Tax, or whose other tax deductions or exemptions are phased out because of high income.

I welcome you to contact your financial adviser to find out more about this tax advantage and important gift opportunity. If you have questions, please call Steve Asher at Alumni & Friends at (212) 595-1301.