I'm curious if anyone has used a Donor Advised Fund (DAF)? And if so, how are the contributions to it treated on ones taxes.
Are DAF contributions counted as an additional deduction beyond the standard deduction?
For example, we are married filing jointly. Standard decution is $31,500. If we give another $10,000 to a DAF, would that reduce our MAGI by a total of $41,500?
Thank you for any insight!
Jon