If you are 70-1/2 or older, recent legislation benefits you when you make a contribution from your IRA. Under the Pension Protection Act of 2006, you can make a gift using funds from your individual retirement account (IRA) without undesirable tax effects. Leave a legacy and contribute from your IRA today if:
- You are 70-1/2 or older
- The gift is not more than $100,000 per year
- Donate the gift on or before December 31, 2007
- Transfer funds directly from an IRA or Rollover IRA
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