Yes, you can absolutely contribute publicly-traded stock to your Daffy fund. Daffy, as a leading donor-advised fund provider, has made it incredibly easy for its members to do so. This method not only allows for a tax deduction but also gives you more time to decide on which organizations to support.
To contribute stock, all you need to do is log into your Daffy account and select stock as a contribution option. You can then initiate a transfer from your brokerage. Once received, the stock will be liquidated and added to your fund balance, usually within 7-10 days.
By donating appreciated stock instead of cash, more money goes to charity. This is because we sell the asset and make the cash available in your Daffy account to donate to nearly any charity. If you're unsure which organizations you want to support just yet, you can invest the cash in one of our portfolios to grow tax-free for future donations.
Contributions to your Daffy fund are for the sole purpose of charitable giving. Once you contribute, you can take an immediate tax deduction. Plus, you'll have time to decide how to distribute the money once you're inspired to give. At the end of the year, you'll receive a single yearly tax receipt.
So, if you're looking to lower your tax bill and maximize your generosity, Daffy is a great option for a donor-advised fund. With Daffy, you can easily donate to almost every US public charity, track tax-deductible contributions, and access donation receipts all in one place. And the best part? Daffy waives all membership fees for members with less than $100 in their fund. So, get started today for free!
Please note that the information contained in this post is for educational purposes only and should not be considered tax advice. To assess your specific tax situation, please consult with a tax professional.
Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.