Fidelity Donor Advised Fund are any attached conditions necessary? Should I answer yes or no?

Forum|Forum|2 years ago
January 28, 2024
1 reply
0 views

I also gave from a taxable account a donation of stock to Fidelity DAF. If I enter them as the charity and input the donated stock there are also the following questions that are asked. Do I answer yes to the "I attached conditions on a donation" checkbox?

If I click to "learn more" it would seem the following would apply: "Specified how the donation should be used" since I allocate Grants within the DAF to charities I specify. But not sure about this. What would the correct path be for a Donor Advised Fund such as Fidelity DAF?

---------------------

Here is the "Learn More" info next to the "I attached conditions on a donation" checkbox:

You attached special conditions to a donation if you did any of the following:

- Specified how the donation should be used.

- Kept the right to take back the donation or decide future ownership.

- Allowed someone other than the charity to receive income from the donation.

If any of these conditions are attached to a donation, you may have to answer some additional questions.

TurboTax Premier Online

Best answer by Bsch4477

Answer “no you didn’t attach any conditions.

Bsch4477Answer

Employee

Answer “no you didn’t attach any conditions.

Anonymous

Thanks.

And just to clarify with this Fidelity DAF I contributed shares of a single stock which then get moved into the DAF's managed funds. The total amount donated is then available for me to make one or more "Grants" to the charities and time of my choosing. So I'm personally directing (aka specifying) all the grants that are going out to other 501c3's from the DAF

The fact I am directing what 501c's get the grants was why the "Specified how the donation should be used." checkbox seemed to possibly apply unless I'm missing additional context.

Bearcat252

Where did you enter the DAF information? Was this just under Charitable Contributions, and you just called it "Fidelity DAF"? I'm concerned that this isn't the correct way to enter DAF info for the IRS.