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Returning Member
posted Jun 28, 2023 3:24:21 PM

Is donor-advised account applied only one-time for deduction/credit that is the tax year that account is established?

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1 Replies
Not applicable
Jun 28, 2023 3:36:01 PM

Hello jimk719,

Thank you for joining us for the Ask the Experts Event. As to your question, you are correct--the donation is claimed in the year it is made and then the organization has legal control over it where you can retain advisory privileges. See this article from the IRS.

 

I hope that helps.