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What if donors want to contribute more than $100,000 to a qualified charity from an IRA?

April 26, 2017charity contribute donors IRA qualified

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What if donors want to contribute more than $100,000 to a qualified charity from an IRA?

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The law limits the amount that donors are able to exclude from their income to $100,000. If donors wish to take funds from their IRA to contribute more than $100,000 to charity, they cannot exclude the additional amount from their gross income. Rather, they must follow the general rules pertaining to percentage limitations and itemized contribution reductions.