Taking an RMD this year?
Let your required minimum distribution give kids a great start.
Send all or part of your required minimum distribution (RMD) straight from your IRA to the Museum. It can count toward your RMD and generally isn’t added to your taxable income, even if you don’t itemize. You can give this way starting at age 70½.
For example: if your RMD is $10,000 and you send $2,000 to the Museum, generally only $8,000 is added to your taxable income. A lower income can also help keep your Medicare premiums and the tax on your Social Security down.
Ask your IRA administrator to send the gift to Grand Haven Children’s Museum (EIN 88-4106720), P.O. Box 572, Grand Haven, MI 49417. Start early, since the gift must leave your IRA by December 31.
Let us know it’s coming →
This is general information, not tax or legal advice. Please talk with your tax advisor or IRA administrator about your own situation.