Congress has passed legislation to extend the IRA charitable rollover.

This law allows an individual who is age 70½ or older to make a special gift from his or her IRA to a charitable institution such as the University of Kentucky.

  • Qualified charitable distributions made directly to UK by January 31, 2013 may be counted retroactively for the 2012 tax year.
  • An individual who took a taxable distribution from his or her IRA in December 2012 can avoid taxes on the distribution by making a gift to the University by January 31, 2013.

Contact us today to learn more about how you can use a distribution from your IRA and potentially reduce your 2012 taxes:

UK Office of Gift and Estate Planning
800–875–6272 or 859–257–7886
giftandestate@uky.edu