Until recent legislation, there was a disincentive for retirees to give IRAs to charity during their lifetimes because withdrawals from IRAs were subject to income tax - even those given to charity.
Tax law extension. Annually, retirement assets may become a preferred charitable gift for seniors. IRA distributions to charity can now again receive special tax advantages. Americans age 70½ and up can make tax-free IRA contributions to public charities such as your community foundation.
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