Can I request that my IRA account RMD check be used in my church, rather than being dispersed to all United Methodist churches?
The answer is yes! This is called an IRA Charitable Rollover. More information here.
You must be 70 ½ years old at least, and you can donate up to $100,000 in this way.
Step 1: You tell your advisor, or custodian, to send money directly to your church’s (or other charity). You may need to know the church federal tax id or EIN Number. It just depends on the advisor.
Step 2: Your advisor sends a check payable to the church or charity (not you)
Step 3: The gift qualifies as an RMD.
Step 4: You don’t need to claim this as income, on your next tax returns, so you won’t need to pay taxes on it.
Thank you for your generosity!