Charitable IRA Tax Provisions

There is good economic news for seniors interested in making a charitable gift to Modern Art Museum thanks to a recent tax code amendment that included a permanent extension of the IRA charitable rollover.

Taxpayers age 70½ and older are required to take annual distributions from their IRAs, which then are included in their adjusted gross income and subject to tax. The IRA charitable rollover permits taxpayers to make donations directly to charitable organizations from their IRAs without counting them as part of their adjusted gross income. This rollover distribution counts toward the required minimum distribution for IRA holders.

To make a gift using the IRA charitable rollover:

  • Contact your IRA administrator and authorize them to send a check from your IRA directly to the the Modern Art Museum of Fort Worth.
  • Ask your IRA trustee or administrator to clearly reveal this is an IRA rollover provision gift and identify you as the IRA account owner.
  • Be sure to have your administrator include how and where the Modern is to use your IRA gift, Annual Fund or Endowment.

For more information or to ask questions, contact the Development Department at or by calling 817-840-2177.