Strategic Tax Tips - February 20, 2018

Chad Hassinger |
Categories
Tax Planning

By Colleen M. Henes, CFP®, JD
Financial Advisor, Advanced Planning

February 20, 2018

"Are you required to take minimum distributions from your IRA? If so, did you know that you can donate up to $100,000 per year directly from your IRA to the charity of your choice (and an additional $100,000 from your spouse's IRA)? The donation counts toward all or a portion of your required minimum distribution ("RMD"), but it is not included as taxable income so you are not taxed on the portion of your RMD donated to charity. Just remember: you are not allowed to take a charitable write-off on Schedule A for the donation from your IRA."

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