You may, in fact, be able to skip your mandatory IRA withdrawal this year, but it depends upon your age.

Owners of IRAs who are 70½ or older are usually required to withdraw a stated minimum amount every year - or be hit with penalties. However, in 2008, Congress passed legislation that waived that minimum withdrawal requirement - but just for the year 2009.

There are two advantages for leaving your money in your IRA:

One. It enables you to participate in the recent market rebound.

Two. Not making a withdrawal also means less taxable income when filing your taxes for the year 2009.

Note: It might be of interest to know that you can make a direct contribution from your IRA to a charity. The money must go directly from your brokerage account to the charity. This tax break expires on December 31^st so start the paperwork right away.

You cannot deduct the charitable contribution but on the other hand, the amount you withdraw will not be included in your taxable income.

Further details: www.irs.gov (in the search box type "IRA withdrawals, 2009.)

 - Nancy Dunnan