Notes From the Fieldby Martin Weil

January 17, 2013

IRA Direct to Charity – Last Call

For those over 70 1/2, a minor feature of the December tax deal from Congress allows individuals to use their 2012 RMD as a direct contribution to a charity (and thus excluding it from income calculations).  But only under two circumstances and both must be completed by January 31, 2013:

  • For those who took an RMD in December 2012, the individual can make a cash contribution to a charity up to the amount of the RMD
  • Individuals who missed taking their 2012 RMD can direct that directly to a charity from their IRA.

But again, either must be accomplished by January 31 to treat it under this provision.

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