Q1). Is it simply listing the cash amount to the Donor Advised Fund on TT?
A 1). Yes. you get a tax deduction (itemized on Schedule A) when you put money into the Donor Advised Fund.
Q 2). From that cash amount, I chose to grant about $2000 to the Boys and Girls Club of my city. That was a cash amount from the donor-advised fund, however, in my fund details, I see there are divestment instructions and asset allocations. Do I have to put, in TurboTax, that I donated stock to the
A 2). No. You do not claim a tax deduction when you send money from the Donor Advised Fund to an actual charity, even if it comes out of the cash asset allocation. You already got a deduction for putting money in the fund. You don't get a second deduction when the Fund sends money to the charity you designate.
The Donor Advised Fund is a "charity", in the eyes of the IRS. You get a deduction for donating to THAT charity. From there, you only "advise" the fund that you would like THEM to make a donation to the Boys and Girls Club?
