Generally, you are eligible to take an immediate tax deduction for the calendar year when the contribution is made. The amount eligible for deduction varies depending on a member’s filing status, adjusted gross income, and contribution made.
You are only eligible for a tax deduction when making the initial contribution to your Daffy fund.
You may not take an additional deduction when a donation is recommended to a charity from your Daffy fund.
You may not take an additional deduction when transferring another DAF to Daffy.
It is always best to consult a tax professional to understand your specific situation.