Donating Appreciated Shares to a Donor Advised Fund: Estate of Hoensheid Makes It Clear It Is Not as Easy as It Sounds
Donor Advised Funds, or DAFs, have been steadily increasing over the past few years. Non-cash gifts like appreciated shares of stock — which have the biggest impact on long-term success — make up nearly two-thirds of these gifts. CPAs have a critical role to play in properly preparing the tax return and related forms to report the gift, make sure all required documentation is included, and confirm that the appraisal, if any, meets the requirements for a qualified appraisal under the regulations. CPAs who prepare returns for clients making such gifts should make sure counsel is also associated who is familiar with these regulations to ensure full compliance, as IRS has a national project to attack these gifts. Mitch Horowitz, shareholder in the firm's tax section, will be leading this special in-person program.
Florida CPE Credit Pending