Since 2006, those age 70 ½ and older have had the opportunity to direct up to $100,000 of distributions annually from their IRAs to the charity of their choice. This is not a particularly well known rule for several reasons. At first blush, it looks like something that is only for the very rich—who can afford to give away $100,000 a year to charity? Secondly, the rule has always been in the tax code as a temporary provision, meaning that Congress had to reinstate it periodically after it laps...
Since 2006, those age 70 ½ and older have had the opportunity to direct up to $100,000 of distributions annually from their IRAs to the charity of their choice. This is not a particularly well known rule for several reasons. At first blush, it looks like something that is only for the very rich—who can afford to give away $100,000 a year to charity? Secondly, the rule has always been in the tax code as a temporary provision, meaning that Congress had to reinstate it periodically after it laps...
Share this Article
Recommended