AFFORM.NET – DAF Form 847 – Recommendation For Change Of Publication – If you’re wondering where to find a DAF Form 847, you’ve come to the right place. Here you can find information on the DAF Form 847, or Recommendation for Change of Public. You can also learn how to complete this form by following a few simple steps. You can find a sample PDF of the form’s instructions on the UPSC website. But before you fill out the form, be sure to understand all the information carefully.
Download DAF Form 847 – Recommendation For Change Of Publication
| Form Number | DAF847 |
| Form Title | RECOMMENDATION FOR CHANGE OF PUBLICATION |
| Published | 15 Apr 2022 |
| Prescribing Pub | DAFMAN90-161 |
| File Size | 45.20 KB |
What is a DAF Form 847 ?
DAFs are tax-deferred savings accounts that allow individuals and organizations to contribute assets to a charitable organization without incurring any tax liability. In most cases, donations from DAFs qualify for a tax deduction in the year of contribution. There are certain limitations on the tax deduction for both cash and appreciated assets. For cash contributions, you can deduct up to 60% of your adjusted gross income (AGI). If you contribute appreciated assets to a DAF, you will not incur any additional tax when requesting distributions. If you plan to sell highly appreciated assets, you should consider donating them to a DAF as it will prevent you from paying capital gains tax.
One advantage of DAFs is the flexibility they provide for future charitable giving. In some cases, successor advisors can direct the fund to specific charities or organizations. Most DAF agreements also include the opportunity to name the ultimate taker, which is your DAF sponsor. If you do not name the ultimate taker, your money will go to the DAF sponsor, so be sure to read the agreement carefully. You’ll be happy you did.
Where Can I Find an DAF Form 847 ?
DAFs are tax-advantaged savings accounts that help you reduce your income taxes by donating assets to charitable organizations. The IRS allows individuals to contribute up to $50,000 to a DAF each year. There are no minimum distribution requirements for DAFs. Donating to a DAF allows you to deduct up to 60% of your AGI in the year you make the contribution, and you don’t receive a second deduction when you request a distribution. You can also contribute highly appreciated assets to a DAF to avoid capital gains taxes when you sell them.
Donor advised funds are popular ways to leave charitable donations. The flexibility of DAFs allows you to recommend grants to qualified charities. The money you contribute can either have an immediate impact or continue to benefit charities for years to come. If you leave the money in the DAF until you die, it may be distributed to your favorite charities, The Rotary Foundation, or even a loved one. The only limit is your imagination.
DAF Form 847 Example
