Charitable Contributions from IRA Distributions

You are allowed to make charitable contributions after 70 1/2 directly from your IRA for 2006 and 2007 and the distribution is not includable as income. Do you know if this has been extended for 2008?



It has not been extended beyond 12/31/07, however the chances for extension are probably reasonably good. Problem is that Congress has fallen into a very bad habit of extending various provisions retroactively and that makes tax planning extremely difficult.



Not yet.
Two Bills that have been introduced to extend this provision. The Public Good IRA Rollover Act and The Charitable Tax Relief Act of 2007.



Please keep us posted on any developments on this issue.

Thank you very much.
Janine



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