IRA Charitable Rollovers Are Back!

IRA charitable rollovers are back! When President Obama signed H.R. 4853 into law on December 17, 2010, IRA charitable rollovers were extended retroactively from January 1, 2010 through December 31, 2011. IRA owners age 70½ or older once again have opportunities to make direct, tax-free transfers to charity—up to $100,000 in both 2010 and 2011.

Scoring: People 70½ and older can take advantage of this opportunity to transfer up to $100,000 tax-free from their IRA accounts to qualified charities before January 31, 2011 and still have these dollars count in their 2010 income tax returns. And, they can give up to $100,000 again before December 31, 2011 by doing the following: [Read more…]