Donate to your favorite Charity directly from your IRA TAX FREE.
1
The Rules are:
1. You must be 70 1/2 or older.
2. Transfers must be made directly from the IRA custodian to the Charity.
3. Up to $100,000.00 may be gifted in 2009. The IRA distributions can come from multiple IRAs but they are limited to a total of $100,000.
4. The transfer will count toward your required annual distribution.
2
Step to avoid:
If the distribution comes to you first and then you write a check to the Charity, you will NOT get the same benefit.
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