Donating to a Community Foundation From Your IRA

Community foundations are a good way to make charitable donations. Taxpayers over 70 ½ who must take a distribution from their IRA account can donate up to $100,000 to a qualified charity, like a community foundation, and reduce their adjusted gross income (AGI). This is more important now that recent tax law changes increased the base standard deduction, meaning fewer people will itemize on Schedule A. The lower AGI will also help some taxpayers hold down Medicare premiums.


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