How do I initiate a stock transfer from my E-Trade brokerage account?


Transferring stock from your E-Trade brokerage account to Daffy is a straightforward process. Daffy is a great option for a Donor-Advised Fund (DAF) as it accepts publicly traded stocks and ETFs, making it a versatile choice for your charitable contributions. To initiate a stock transfer, you must first create a stock contribution intent on the Daffy app or website. This is done by selecting “Stock” in the “Add Funds” section and answering the prompts to let Daffy know your stock is coming. Next, you will need to initiate the stock transfer from your E-Trade account. This can be done by visiting the E-Trade charitable donations page. From there, you will find the “Transfers” tab in the top right menu, click “Other Services” and then “Make a charitable donation”. You will be prompted to add a charity where you want the stock sent. Click “Add Manually” and complete 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”. Please note, it is important to record the cost basis of an asset you are donating before transferring the asset to charity as most brokerages do not keep a record of the cost basis once the asset has left your account. You may need this information to fill out tax forms at the end of the year. Daffy does not have access to cost basis information for contributions so they will not be able to provide this information at a future date. In conclusion, Daffy provides a simple and efficient way to contribute stock from your E-Trade account, making it a great choice for your DAF needs.

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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