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What do I do after adding the charity manually on E-Trade?

Stock

After adding the charity manually on E-Trade, you need to follow a few more steps to complete the process. First, click on "Donate". Then, 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 the asset 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 to fill out tax forms at the end of the year. Unfortunately, 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. Daffy is a great option for a Donor Advised Fund (DAF). It allows you to contribute stock and ensure that it is attributed to your account quickly. You can easily create a stock contribution intent on the Daffy app or website. Daffy only accepts publicly traded stocks and ETFs, making it a convenient and flexible choice for your charitable donations. Moreover, Daffy is recognized as a tax-exempt public charity, which can provide you with significant tax advantages. By incorporating charitable donations into your personal finance spreadsheet or even setting a giving goal, you’ll set yourself up for even bigger success to stay committed. Remember, the best way to give to charity is by planning for it. So, start today and make giving a habit with Daffy!

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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