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Contents

Watchlist Question

Rruth:

I answered your question here: Discussion:Watch List.

Thanks,

- Tim Doyle, TaxAlmanac Moderator - Talk to me 20:54, 21 August 2006 (CDT)

Tax-free charitable gifts from IRAs

Could you forward what you have on it?

Do you know if the gift is also deductible by the donor? Otherwise I see no difference between including the distribution in income, then taking a tax deduction. The only benefit would seem to be to those who do not currently itemize and those with very high incomes who have deductions phased out to some degree.

distribution from IRA for charitable purposes

Ruth, I read your answer to Abacus1 question on the above. I would like to have a copy of Pension Protection Act of 2006 or the section discussion on distribution to a Charity.

I also have a client (over 70 1/2) who heard he could roll his distribution to charity and it would qualify as his required withdrawal for over 70 1/2 and not be taxable and still be treated as a chartible contribution. Sounds like double dipping not taxable and deductible as a chartible contribution.

Appreciate it if you can either supply me with a copy of what I need or tell me where to go to find it.

Thanks for your help

Ron Staley rstaley123@earthlink.net fax 419-238-2247

Sch C

Hi Ruth,

      Thanks for your answer.Let me understand what you mean 
She has 3 care homes and she is having seperate SCH C for each, Using same bank account for a all care homes, same employees are working on all places.
    What I think or understud from you answer is that:-
       NO Sch E, She can claim mortgage payments  for those care homes at SCH C. She must Depericate   properties on SCH C, other wise she will loose  the dep.

Please let me know, if I am thinking right.

Thanks,

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