Charitable donations are reported as itemized deductions on personal income tax returns. Taxpayers who claim the standard deduction do not report their charitable donation(s) on their tax return. Betterment optimizes tax deductions for charitable donations by only allowing our customers to donate appreciated investments held for over one year.
Articles in this section
- TurboTax is requesting cost basis for my donation I made through Charitable Giving. Where do I find that information?
- How do I report my charitable donation?
- Why should I consider donating shares to charity?
- How do I donate shares?
- When is the deadline for making a charitable contribution?
- How long do I have to hold shares to be able to donate them?
- Which charities can I donate to through Betterment?
- How do I get my receipt for my charitable donation?
- Why can't I donate to charity from Betterment’s mobile app?
- Why can’t I donate my short-term capital gains?