Who Qualifies:

1. 70 1/2 or older by December 31st each year
2. Withdrawal from an IRA
3. May exclude up to $100,000 for qualified charitable distribution
4. Distribute directly to a public charity
5. May not distribute to Donor Advised Fund, Gift Annuity, or Charitable
    Remainder Trust.

How did this come about?

On October 3, 2008, President Bush signed a bill (H.R. 1424) into law which will extend the IRA charitable rollover provision through December 31, 2009. Note that the new law only changes the termination date of the provision. No changes were made to the substance of the rules for qualified charitable contributions from IRA's.

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Note: Ohio does not allow itemized deductions for state income tax purposes. However, in 2006 and 2007, Ohio enacted law so that IRA distributions which were qualified charitable deductions were not considered income. It is our belief that this legislation will be extended for IRA gifts in 2008 and 2009.  October 2008