IRA CHARITABLE ROLLOVERS NOT AFFECTED BY RECENT TAX CHANGES
Posted on
February 07, 2020 by
The VRG Blog Editor
The tax legislation approved by Congress in December included several changes to federal retirement law. One provision raises the age when individuals must start making minimum distributions from their individual retirement accounts (IRAs) from 70½ to 72 years of age. The tax law did not, however, alter the giving incentive known as the IRA charitable rollover. Individuals aged 70½ and older may still make tax-free distributions to nonprofits (such as The Vegetarian Resource Group) from their IRAs, even if they are not required to make distributions from their IRAs because they have not yet turned 72.
This is not tax or legal advice. Please speak to your tax or legal advisor.
