Andrew_W
Employee Tax Expert

Get your taxes done using TurboTax

Hi @jimk719,

 

Generally, for a Donor Advised Fund, the charitable deduction is claimed in the year the contribution is made to the fund. The deduction for the amount the contribution is made can only be claimed once.

 

The benefit of a Donor Advised Fund is that a charitable contribution can be made in the current year, but the funds held and donated to a charity at a future time. They are often used to contribute chartiable donations in the current year if the donor is not sure which charity they wish to donate to, but would like to secure a chartiable deduction for the current year.

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