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Submitted By: someone
Answered: September 14, 2015 12:24 pm
Answered: September 14, 2015 12:24 pm
Many readers asked whether the rule allowing a tax-free $100,000 direct transfer from IRAs to public charities was extended for 2015.
Not yet. The more than four dozen tax rules that expired at the end of 2014 have yet to be extended for 2015. Stay tuned!
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Tax Glossary
Cancellation of debt
Release of a debt without consideration by a creditor. Cancellations of debt are generally taxable.
