CHARITABLE CONTRIBUTIONS BY “OLDER IRA OWNERS”


IRA owners age 70 ½ or older can transfer up to $100,000 per year to eligible charities tax-free. The transfer can count as part of your Required Minimum Distribution (RMD) for the year. Funds must be transferred directly by the IRA trustee to the eligible charity.


Previous Tax Tips

Tax Tip of the Month

Tax Tip of the Month

TAX TIME IS ALL THE TIME®  is a registered trademark of Sidney M. Schuchman, CPA © 2020