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I have a traditional IRA and am over 59 1/2. Can I make a contribution from this account, directly to a qualified charity without any tax implications? I know this is possible after starting RMDs but not sure about before that time?
Are you open to the idea of withdrawing from the IRA first, and then write a check to the charity of your choice?
The above assumes the following:
(1) You are under 70 1/2,
(2) You want to donate to charities now,
(3) You don’t have enough money in taxable to make the donation, and
(4) You can offset the increase in AGI with a corresponding full deduction because you have more than enough to itemize.