Charitable donation from my 401k
Is it possible to make a charitable donation from my 401k to a church or another non-profit without tax-consequences?
Answer:
If you plan to include retirement assets in a charitable donation, you should consider how it may affect your finances. In some cases, it can be more beneficial to designate the charity of your choice as the beneficiary of your retirement account. It also might be possible to direct a distribution to a charity.
Please consult with your CPA for details as we are not qualified to provide you with tax advice.