Giving to UT Southwestern Medical Center
Ranked among the top academic medical centers in the world, UT Southwestern Medical Center is a premier educational, clinical, and research institution with a cutting-edge approach to medicine. Our physicians and researchers are seamlessly integrating breakthroughs in basic science, advances in comprehensive patient care, and the development of innovative education and prevention programs to improve health care in North Texas and around the world. As a non-profit organization, UT Southwestern relies heavily on the generosity of its supporters to remain at the forefront of medical care and scientific discovery.
Any gift to UT Southwestern can be made in memory of a family member, colleague or friend, or in honor of an important person in your life. Patients, family, and friends may choose to honor a physician or clinical team for the excellent care they received at UT Southwestern.
The Charitable IRA Rollover Is Back
On January 2, 2013, the American Taxpayer Relief Act of 2013 was signed into law. Included in this bill was an extension of the Charitable IRA Rollover for 2012 and 2013. The Charitable IRA Rollover allows those who have reached the age of 70½ to make charitable gifts directly from their IRAs without the need to claim the distribution as income.
If you made a qualified charitable distribution of IRA funds directly from your IRA custodian to charity in 2012 with the expectation that the rollover would be extended, such gifts will qualify as a Charitable IRA Rollover. If you did not make a charitable IRA rollover gift in 2012, you may do so during January and count the gift as a 2012 rollover. Of course, you have all of 2013 to make a charitable rollover gift for 2013.
The bill also includes a special rule that allows those who took a taxable distribution from the IRAs in December 2012 to satisfy the required minimum distribution rules to make a cash gift of equal or lesser value to UT Southwestern until the end of January 2013 and consider that a 2012 Charitable Rollover.
As in prior years the Charitable IRA Rollover has the following requirements:
- The taxpayer must be age 70½ at the time of the gift
- The transfer must be made directly from the IRA account to a qualified charity
- The maximum amount that can be transferred per year is $100,000 per taxpayer
Consult your tax advisor to determine how this new law will impact you or call Randy Daugherty, Director of Planned Giving, at 214-648-3069 for assistance.