Thanks for the reply - Yes, I understand the Charitable Gift Annuity under the Secure Act is a one time, once in a lifetime distribution of usually a minimum of $25,000 up to the maximum of $54,000 for 2025, and that I can't contribute more in future years by catching up. Part of my dilemma just take the $23,000 from the RMD or use the $23,000 plus add and make the entire $54,000? I also understand once I contribute and set up the CGA I have no further access to this money - the charity has the money and pays me an income amount until I die at which time they can use the rest of the money.You can't roll over an RMD to a Charitable Gift Annuity. You would need to take the RMD first and then roll over funds from the remaining balance. You can make a one time roll over of $54,000 in 2025 from your IRA after you take your RMD. It will reduce your RMD for future years though.
Keep in mind that this is a once in a lifetime rollover and must all be done in one year. If you only roll over $23,000, you can't contribute the remaining amount in future years.
Perhaps "roll-over" wasn't the correct term - somehow I didn't think I took the RMD myself had it in my hand and then contributed that amount to the Charity to create the Charitable Gift Annuity. I have met with the organization that I will be using for the Charitable Gift Annuity and they didn't mention what you indicated. - I was just advised and also read I can fund it with Cash from my RMD, other cash, or publicly traded securities.
Somehow I think there is something I'm not understanding - any additional clarification would be appreciated.
Evelyn
Statistics: Posted by EvelynTroy — Fri Jan 10, 2025 4:37 pm