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.
Betterment is not a tax advisor, and the information provided here should not be construed as tax advice. It should only be used for informational purposes. Please consult a qualified tax professional and refer to IRS Publication 526 and IRS Form 8283 to determine the rules that apply to your individual tax situation.