If you are age 70½ or better you can give directly from your IRA to the Joy of Music School without paying federal income tax on the withdrawal.
How it works:
You must be 70 ½ or older at the time the gift is made
You must request from your IRA plan custodian a direct transfer of funds to JoMS for the gift to be tax-free.
Each person may give up to $10,000 per year.
Gifts can be used to satisfy your IRA required minimum distribution each year.
Funds held in other retirement plans such as a 401(k) or 403(b) plan are not eligible but may be rolled over to a standard IRA to then be used for a tax-free roller gift to charity.
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joy of music
1209 Euclid Avenue Knoxville, TN 37921
Make a Donation Today & Give The Gift of Music to Children in East Tennessee.