Tech Forum

caroleeaw wrote: ↑Fri Mar 29, 2024 1:07 am Replying to hdangi, you don’t need a receipt for your donation to the church through Fidelity charitable because your taxable event for a charitable donation happened when you contributed to your donor advised Fidelity Charitable account. You don’t need to itemize who the funds eventually went to and you can’t claim it twice as a donation anyway,

russellhltn wrote: ↑Fri Mar 29, 2024 11:37 am That's not the impression I get when reading 2fo023 Instructions for Schedule A page A-10, "Gifts of $250 or more" as well as "Line 11".

caroleeaw is correct. hdangi does not get a receipt for the donation Fidelity made to the Church. hdangi needs the record of the contribution made to the Fidelity donor advised fund. The date the Fidelity account was funded is the date of the deductible contribution and the record for IRS purposes would be a statement from the financial institution, an electronic fund transfer receipt, a canceled check, or some other record of the funding sent to Fidelity to set up the account.

The amount of the funding sent to Fidelity then is recorded on Schedule A for purposes of the tax deduction. It does not matter when Fidelity sends the money to the Church. The donation was made when the money was sent to Fidelity.

Interesting. Clearly this is a whole different situation.