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TAX-FREE distributions from IRA to charity
The Emergency Economic Stabilization Act of 2008 recently passed by congress and signed into law by President Bush has extended the IRA Charitable Rollover through the end of 2009.
If you are age 70 ½ or older, you are eligible to make charitable gifts from your IRA (Individual Retirement Account) to West River Health Services Foundation without income tax consequences.
Under the law the IRS will allow up to $100,000 to be transferred direct to charity from your IRA in 2008 and 2009 – tax free.
Under this law, IRA gifts to West River Health Services Foundation will count toward your mandatory annual IRA distribution requirement.
To make an IRA gift, just contact the trustee of your account.
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