in [Event] Ask the Experts: Investments: Stocks, Crypto, & More
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You deduct as a charitable donation what you donated to the DAF in the year you donated it if you itemize. Any charitable distribution from the Fund itself is not deductible by you.
Yes, thanks. I understand that part.
My question is in the turbotax tool when it asks for "name of the charity" is it ok to put Schwab Charitable account? or how should I enter this contribution into the turbotax software
If you donated to Schwab Charitable account in 2022 that is what you report in TurboTax.
And is the correct thing to do to enter "Schwab Charitable account" in the text field where it asks for charity name?
Yes.
As advised @DaveF1006, you would follow the steps below:
5. On the next screen, enter the name of the Charity and select "Add" next to Stock.
Probably "Schwab Charitable Fund" is a more accurate name for the charity itself.
You are giving to that charity...even if you have an account within the fund.
_________
One of the Schwab descriptions/notes says:
"Schwab Charitable Fund™ is recognized as a tax-exempt public charity as described in Sections 501(c)(3) .....etc..."
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