Tax-Free IRA Charitable Rollovers Reinstated by American Taxpayer Relief Act (“ATRA”)
From 2006 through 2011, individuals age 70-1/2 or older were eligible to make donations of up to $100,000 directly from their individual retirement accounts (IRAs) to benefit public charities. Although they received no charitable deduction for such transfers, they didn’t have to report the distribution as taxable income, either. Result: zero tax. And, such a […]