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Clarity Group Midwest

Charitable Contributions from IRAs

The Pension Protection Act of 2006 first allowed taxpayers age 70½ or older to make tax-free charitable donations directly from their IRAs. Technically, these taxpayers were allowed to exclude from gross income otherwise taxable distributions from their IRA ("qualified charitable distributions," or QCDs), up to $105,000, that were paid directly to a qualified charity. These gifts are also known as "Charitable IRA rollovers...

 

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