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Submitted By: Many readers
Answered: November 23, 2015 11:43 am
Answered: November 23, 2015 11:43 am
Is the tax-free direct transfer from an IRA to a public charity by those who are at least age 70½ available for 2015?
This rule expired at the end of 2014 and has not yet been extended for 2015. Many believe it will be extended, but it is advisable to wait until later this year to see what Congress does before making any such transfer.
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Tax Glossary
Qualified plan
A retirement plan that meets tax law tests and allows for tax deferment and tax-free accumulation of income until benefits are withdrawn. Pension, profit-sharing, stock bonus, employee stock ownership, and Keogh plans and IRAs may be qualified plans.
