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 Taxpayers Over 70 1/2 May Donate their IRA Distributions to Charity 

 

By making a charitable contribution directly from an IRA to a charitable organization, taxpayers can satisfy the required minimum distribution requirement without reporting additional income.

 

The IRA trustee or custodian must make the distribution directly to the charity. Distributions made payable to the IRA owner and transferred to the charity do not qualify.

 

Please contact us to discuss this IRA tax saving strategy to see if it would benefit your particular tax situation.
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Each entity or individual's situation is unique and should be analyzed based upon all of the laws and regulations that exist at the time of a decision. Although we try to send current and accurate information, laws change and can be complex. The information presented in this e-mail should not be construed as legal, tax or accounting advice. You should consult with Angle, Zaebst & Associates CPA's or other professionals familiar with your particular situation for advice concerning specific tax or other matters before making any decision.