In a Q&A article titled "Congress May Restore IRA Provision," the Wall Street Journal reports that legislation passed in the House would reinstate a provision allowing individuals over the age of 70 1/2 to directly transfer up to $100,000 from an IRA to a qualified charity without any of the transfer counting as taxable income. The article notes that the Senate seems likely to support the measure and may take up the legislation later this year.
Posted by Patrick Siegfried, Associate Editor, Wealth Strategies Journal.
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