Wesley is 75 years old. He has a large balance in his Traditional IRA and...
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Accounting
Wesley is years old. He has a large balance in his Traditional IRA and decided to make a $ charitable contribution to a qualifying c charitable organization this year. Rather than withdrawing the money from his IRA and then sending a $ check to the charity, the money was sent directly from Wesley's Traditional IRA to the charity.
Requirements:
Research the following issue: What are the tax consequences of this transaction?
d Authority For this problem, use authority from the Internal Revenue Code or Treasury Regulations
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