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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