Helping with expenses of new college enrolee (Grandchild)
Could I provide funds from my IRA as a charitable contribution for required MRD or any other method which could qualify for Federal tax benefits? IRA or other sources!
Terry Says
NO! You can make charitable contributions directly from an IRA as part of an RMD to a REGISTERED CHARITY. But your grandson doesn’t qualify, nor does his college!
If you want to help, offer to pay a small amount toward his tuition — DIRECTLY to the college or university. Get the bursar’s address from him. That way it won’t impact his qualifications for Federal Student loans.
