Generally, you are eligible to take an immediate tax deduction for the calendar year when the contribution is made. It is always best to consult a tax professional to understand your specific situation. 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.