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Ways to give

IRA charitable giving

The law allows donors who are at least 70-and-one-half years old to make direct transfers of up to $100,000 per year from traditional IRA accounts to qualified charities. These transfers will not be included in taxable income and no adverse income tax consequences result from this transaction.

The legislation expires Dec. 31, 2011. The direct charitable transfer will count toward minimum distribution requirements.

Because Congress recognized that it is late in the year, individuals who choose to make a qualified charitable distribution rollover from their IRA trustee to a charity may make their 2010 charitable gift during 2010 or in January 2011.

 

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