Charitable Gifts from IRAs

If you are over age 70 ½, you can direct the Custodian of your IRA to transfer up to $100,000 of your IRA to Med Center Health Foundation, every year, free of income tax. Any distribution made to Med Center Health Foundation counts toward your required minimum distribution for that year. Because the distribution is not included in your taxable income for that year, the distribution does not give rise to a charitable income tax deduction.

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