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Something to consider for those over 70-1/2 with RMD requirements is an in kind transfer to charity.

The Qualified Charitable Distribution expired at the end of 2011 but was reinstated (retrocactively) in Jan 2013 (for 2012) and through to the end of 2013. Unless Congress again retroactively extends it, you will not be able to use it for your RMD for 2014.

It worked by allowing you to direct your IRA custodian to send all or some of the amount of your RMD plus an additional amount up to $100,000 (in total) directly to a charity of your choice. This way, the retiree doesn't have to declare it as income first....which probably wouldn't matter, taxwise, if the retiree itemizes deductions.....but it would matter if he/she takes the standard deduction.

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