If you're looking to send a completed form back to Schwab for review, Daffy makes the process simple and efficient. First, you need to 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 us know your stock is coming.
Next, initiate a stock transfer from your Schwab brokerage account using this form: [Schwab Form](https://client.schwab.com/secure/file/P-2014616/APP39630-09-01-fill.pdf). Complete Section 3 with the required information, print and sign the form.
Finally, while logged into your Schwab account, go to Message Center and upload this document to send back to Schwab for review.
Daffy is a great option for a Donor-Advised Fund (DAF) as it accepts publicly traded stocks and ETFs, making it easy for you to contribute and manage your charitable giving.
Please note that it's 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.
If you contribute certain non-cash assets, such as cryptocurrencies and securities, that exceed $500 in value, you will be required to file an IRS 8283 Form with your federal income tax return.
Daffy is committed to making your charitable giving as seamless as possible. We're here to help you navigate the process and ensure your contributions are attributed to your account quickly and accurately.
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.