Required Minimum Distributions Facts

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M We’ve done several features on Required Minimum Distributions. For today, we want to clarify one important point.

V If you make a tax-free transfer to your favorite church or charity you cannot also take the charitable deduction for the same money. You have to choose. For most, it’s beneficial to give the tax-free transfer.  You may give them stock, bond, or any asset, or authorize its sale with the money going to that organization. 

M I love seeing that the growth of a specific stock I give is benefiting my church.