January UUS:E Charitable Contributions by Those Above 70 and 1/2.
Time Is of the Essence.
- Donor must be at least 70 1/2 years of age at the time of the transfer.
- The funds must pass directly from the IRA custodian to the qualifying charity, except as otherwise indicated above.
- There is no federal income tax deduction available for such gifts in addition to their income exclusion benefits.