Thank you for considering a charitable gift to Baker University from your IRA account. Under federal tax law, a taxpayer age 72 or older may make charitable distributions directly from his or her IRA to Baker University without incurring taxable income (sometimes called a rollover gift). The gift must come directly from the taxpayer’s IRA administrator to the university and can satisfy all or some portion of the taxpayer’s required minimum distribution for the year. 

While there is no charitable deduction for such a gift, the taxpayer avoids payment of income tax on the required minimum distribution that would otherwise be paid by the taxpayer. The total of a taxpayer’s qualified charitable gifts in any one year cannot exceed $100,000. The taxpayer’s spouse can make an additional qualified charitable gift of up to $100,000 from his or her IRA (assuming the spouse otherwise meets the requirements).