For 2012 and 2013, taxpayers age 70-1/2 and older who make charitable donations directly from an IRA won't be taxed for a withdrawal up to $100,000. Also, if a direct transfer was made in January 2013, the rules allow the transfer to be treated as though it happened in 2012. Normally, withdrawals from a non-Roth IRA are included as taxable income, even if the money goes to a charity.
Margaret Bowles/AP Images for PetSmart Charities/File
Elizabeth Pratt, 9, and Jessi Hayes welcome Dawn as the 50,000th dog transported through the PetSmart Charities' Rescue Waggin' Program in 2011 in Boulder, Colo. Seniors who make a charitable donation directly from their IRA won't be taxed for 2012 or 2013.