If you are 70 1/2 or older and subject to required minimum distributions from your IRA, consider using Rollover Required Minimum Distributions up to $160,000 to make charitable gifts.

You must instruct your IRA custodian to transfer funds directly to the charities you choose as part of all of your required withdrawal.  There is no deduction for your gift, but you save on taxes because the withdrawal will not raise your adjusted gross income.

This post was written by Larry Blair.

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