No. Those have been taxed.
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
On Tue, Jul 2, 2019 at 11:04 AM Wilkerson, Sandy <
skwilker@central.uh.edu>
wrote:
> Would the same answer apply to an IRA distribution?
>
>
>
> *From:* Advancement Services Discussion List [mailto:
>
FUNDSVCS@LISTSERV.FUNDSVCS.ORG] *On Behalf Of *John Taylor
> *Sent:* Tuesday, July 02, 2019 9:42 AM
> *To:*
FUNDSVCS@LISTSERV.FUNDSVCS.ORG
> *Subject:* Re: [FUNDSVCS] premiums on IRA rollover gifts
>
>
>
> That portion of the rollover must be taxed. So you need to notify the IRA
> custodian what portion was not used for charitable purposes so that they
> can adjust their books and issue a 1099.
>
> John Taylor
>
> 919.816.5903
>
>
johntaylorconsulting@gmail.com
>
>
>
> Big ideas; small keyboard
>
>
> On Jul 2, 2019, at 10:36 AM, Hagan, Brian J <
hagan@uab.edu> wrote:
>
> Hi all,
>
>
>
> Are we allowed to provide goods and services of value on
> an IRA Rollover check? I understand that the donor avoids paying taxes by
> using this method, but I would also argue that they could add a premium
> amount to their tax return as income to make things right. So – are we
> forbidden (legally) from providing a premium, or is the onus on the
> taxpayer to ensure they file appropriately?
>
>
>
>
>
> Thanks!
> Brian
>
>
>
>
>
>
>
> *Brian Hagan, CPA | Senior Director of Gift and Biographical Records*
>
> Advancement Services
>
> UAB | The University of Alabama at Birmingham
>
> AB 1230 | 1720 2nd Ave S | Birmingham, AL 35294-0112
>
> P: 205.975.0569 |
hagan@uab.edu
>
>
>
> uab.edu
>
>
>
>