Exploring the Tax Implications of Proposition 19

The Federal Government assesses a tax on assets that are gratuitously transferred to another person. Assets transferred during the donor's lifetime are subject to gift tax.

Owners of traditional Individual Retirement Accounts (IRAs) may use a special rule to achieve substantial income tax savings while benefiting charities of their choice. They may transfer up to $100,000 from their IRAs to charitable organizations without incurring income tax on the IRA withdrawal

The Southern California Tax and Estate Planning Forum