Friday, February 09, 2007

Permanent charitable IRA rollovers?

President Bush's 2008 budget recommends that the charitable IRA rollover be made permanent (under present law the favorable tax treatment expires at the end of this year). You can find a PDF of the budget here.

Meanwhile, charities are lobbying for more. They would like the $100,000 cap eliminated, and the permitted age for excludable transfers dropped to 59.

Query: Has anyone written about how these rollovers mesh with the Medicaid look-back rules?

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