HOW CAN A DONOR MAXIMIZE THE MONEY IN THEIR IRA?
Under the reinstated charitable IRA legislation, individuals 70½ or older can make gifts to their favorite charities using funds transferred directly from IRAs—without reporting it as taxable income. If your donors are 70½ or older, this gifting opportunity will let them take full advantage of the money in their IRA. This is a short-term opportunity which ends Dec. 31, 2009. A gift from an IRA can be made even if the donor is not required to take a required minimum distribution in 2009. The rollover is limited to organizations in Sec. 170(b)(1)(A), private foundations are also excluded, with the exception of the conduit private foundation.
