Note Regarding Tax-Free IRA Contributions
For those who are 70 ½ years of age or older, you can make tax-free IRA distributions of up to $100,000 to a qualified public charity during 2013. The distribution must be made directly to the charity in order to qualify and the check must come from the IRA source. These donations are tax-free and also count toward the donor’s annual required minimum IRA distribution. (Because they are tax-free, they do not count as a charitable deduction from one’s income taxes).