First go round with ProConnect and also first time reporting a client DAF contribution. I believe I have it all completed correctly within the deductions screen. The final Schedule A looks correct and the form 8283 is populating.
My questions are around actual logistics and reporting:
-Who signs the form 8283? The DAF is with Schwab Charitable, I assume they don't sign?
-The client provided a letter from Schwab Charitable detailing the gift (appreciate LT public stock). Does this need to be submitted with the tax return? If so, how do I do that in ProConnect?
-How much information on the securities donated is required to be entered? I have a list of the 10 or so stocks and market price at time of donation and that they are long-term, but I don't know the exact acquisition date for all of the stocks or the basis. Is that required to be listed?
Again this is my first time entering a DAF contribution so there might be other things I am missing as well. Thanks!
Read the 8283 instructions. Date acquired and cost is not required for donations of publicly traded securities. And these donations go on Section A of the form as helpfully noted on the face of the form.
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