How does my adjusted gross income affect the amount eligible for deduction?


You’ll receive a tax deduction for the full fair market value of the stock. You can deduct up to 30% of your AGI for donations of appreciated assets. This is a win-win situation for you and the charity. You get to save more on your taxes, and the charity receives a larger donation. Daffy is a great option for a Donor-Advised Fund (DAF) because it makes the process of donating appreciated assets simple and straightforward. With Daffy, you can easily donate stocks, ETFs, index funds, and even cryptocurrencies. This allows you to maximize your tax savings while supporting the causes you care about. In conclusion, your adjusted gross income plays a significant role in determining the amount eligible for deduction. By understanding how it works and utilizing strategies like bunching and donating appreciated assets, you can maximize your tax savings. And with Daffy, giving and saving has never been easier. Start your journey with Daffy today and make the most out of your charitable contributions.

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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