Is there an advantageous manner in which to give a large gift to charity?
If you would like to give a large gift to charity and you are over the age of 72, you can make a Charitable IRA Rollover (also called a Qualified Charitable Distribution) of up to $100,000. A Charitable IRA Rollover allows you to make a distribution directly from your IRA to a qualified charity of your choice without having to report the transfer as income. Additionally, the Charitable IRA Rollover also counts as your required minimum distribution ("RMD") from your IRA for the tax year the gift is made.
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