The IRS requires a qualified appraisal for non-cash assets, such as cryptocurrencies and securities, that exceed $5,000 in value in any calendar year. This is where Daffy comes in as a great option for a Donor-Advised Fund (DAF). When you contribute these assets to Daffy, you are required to file an IRS 8283 Form with your federal income tax return. This process can be complex, but Daffy simplifies it for you. Moreover, when you donate an investment that you have held for more than a year to Daffy, a qualified public charity, the IRS considers the donation value to be the current fair market value of the asset, not the value you paid for it. This can lead to significant tax benefits. For instance, if you itemize your tax deductions, donations of stock held for more than a year can apply towards a maximum of 30% of your adjusted gross income (AGI). Let's consider a hypothetical scenario. Imagine a couple that purchased 500 shares of Apple stock in January 2021 for $130 per share, a total purchase of $65,000, and then decided to sell it in February 2022 for $175 per share, or a total of $87,500. They would owe a total of $5,468 in taxes on a reported gain of $22,500, leaving them with an after-tax gain of $17,032. However, if they donated the proceeds of the sale to Daffy, they could significantly reduce their tax bill. In conclusion, Daffy not only simplifies the process of donating non-cash assets but also helps you maximize your tax benefits. Always consult your tax specialist to understand your specific situation.