Charity IRA Rollovers

Congress extended to 2008 and 2009 the provision that allows up to $100,000 tax free rollovers to charities from IRAs by those 70 ½ or older. The individual does not have to report the IRA distributions as taxable income; correspondingly, there is no further tax deduction available for the rollover. The charity must be a public charity, such as a church, and does not extend to donor-advised funds and supporting organizations.