Faculty Publications

Title

The Legacy IRA Act: The Devil Lurks in The Details

Document Type

Article

Publication Date

8-2-2016

Abstract

The Protecting Americans from Tax Hikes Act of 2015 (PATH) represented the successful culmination of efforts to make permanent the provision that allows individuals over age 70½ to make tax-free distributions to qualified charities from a traditional or Roth individual retirement account in amounts up to $100,000 per year.

The Legacy IRA Act (H.R. 5171) represents an attempt to extend the benefit of the charitable rollover to split-interest charitable income gifts, such as charitable remainder trusts (CRTs) and charitable gift annuities (CGAs).