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Quid Pro Quo Isn’t Just a Political Issue

Not following the charitable gift QPQ rules means trouble for charities and donors.

Taxwell Smart, over age 70½, directs his individual retirement account’s $100,000 required minimum distribution (RMD) for the year to be distributed to his college. That $100,000 isn’t deductible as a charitable gift. But, it isn’t taxable. That’s the equivalent of a charitable deduction.1 To qualify for this favorable tax treatment, the donor must be 70½ or older.2 

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TAGS: Philanthropy
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