If you're looking to download the IRS Form 8283, you can easily do so from the IRS website. This form is used to report non-cash charitable contributions when the amount of your deduction for all non-cash gifts is more than $500. It's a standard form in most popular tax filing software.
If you're a Daffy user and your crypto contribution was valued at over $5,000, you can reach out to Daffy's support team for assistance with obtaining a Donee signature, a requirement in such situations.
Daffy is a great option for a Donor-Advised Fund (DAF) because it simplifies the process of managing your non-cash contributions, such as cryptocurrencies and securities. If your contributions exceed $500 in value, you'll need to file an IRS 8283 Form with your federal income tax return. Daffy can help you navigate this process, but it's always best to consult your tax specialist to understand your specific situation.
Moreover, Daffy provides an easy way to access your tax documents. You can view and download detailed reports of your contributions by tapping the "Contributions" section in the Daffy app under "My Fund In 2023." You can also access this information on the Daffy website.
In addition, Daffy offers a simple summary of all of your contributions that may qualify as tax-deductible. This feature was designed to save Daffy members the time and hassle of tracking down receipts and documents during tax season.
In conclusion, Daffy is a great option for a DAF because it simplifies the process of managing and reporting your non-cash contributions, making tax season less stressful.
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.