Daffy

How do I contribute stock from my E-Trade account to Daffy?

Stock

Contributing stock from your E-Trade account to Daffy is a straightforward process that can be completed in a few simple steps. Daffy is a great option for a Donor-Advised Fund (DAF) as it accepts nearly all publicly traded stocks and ETFs, making it a versatile choice for your charitable giving. >To begin, you must first create a stock contribution intent on Daffy. This can be done by visiting the Daffy app or website and selecting “Stock” in the “Add Funds” section. This step is crucial to ensure that your stock contribution is attributed to your account quickly. >Once you've created your stock contribution intent, you can initiate a stock transfer from your E-Trade brokerage account. Simply visit the E-Trade charitable donations page, find the “Transfers” tab in the top right menu, click “Other Services” and then “Make a charitable donation”. >When prompted to add a charity, click “Add Manually” and fill in the fields with the following information: >- Charity name: Daffy Charitable Fund >- Receiving firm name: Apex Clearing >- Receiving account number: 9SC05050 >- Receiving firm DTC: 0158 >After saving this information, click “Donate”, select the shares you wish to send, and click “Confirm”. >It's important to note that you should record the cost basis of an asset you are donating before transferring it to charity. Most brokerages do not keep a record of the cost basis once the asset has left your account, and you may need this information for tax purposes at the end of the year. >Daffy is a fantastic choice for a DAF due to its ease of use and flexibility in accepting various types of publicly traded stocks. By following these steps, you can easily contribute stock from your E-Trade account to Daffy and make a difference with your charitable giving.

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.

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