Charitable IRA Giving
Does anyone know if the Fed Budget continued the practice of Chariable IRA Gifts?
One can make a gift direct to a qualified charity directly from an IRA without having to take income and then labor to take the deduction.
Thanks!
Permalink Submitted by Glen Snell on Mon, 2008-05-12 19:44
I have been hearing rumors again that IRA’s can again be gifted to charity directly for those 70-1/2+ years of age. Can anybody give me chapter and verse to support this if it is true. Please no heresay.
Thanks
Permalink Submitted by David Spellman on Mon, 2008-05-12 20:01
Yes, can anyone point out something published that sets this one straight?
I’ve heard it both ways from people that “should know”….that it continues or that it died, but I’ve not seen anything definitive in any industry or IRS publication that confirms.
Permalink Submitted by Alan Spross on Mon, 2008-05-12 20:20
Here is the link to the current status, and it certainly reflects business as usual in the US Congress. Like the past couple years, you might expect to know one way or the other by perhaps November………
http://www.pgdc.com/pgdc/news-story/2008/01/17/crs-updates-qualified-dis…
Permalink Submitted by David Spellman on Mon, 2008-05-12 20:30
Thank you! That looks definitive!
Have heard from legislative and advanced sales folk that there are a couple of bills that would extend this for another year — or make it permanent and even lift the $100k cap, among other things.
Getting it extended in the middle of the year only to have it expire in December is not exactly a model that exudes confidence!