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donations cryptocurrency
Explore questions and answers about cryptocurrency donations. Find insights, tips, and discussions on how to donate and receive crypto securely and effectively.
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How do crypto donations impact taxes?
Actually, it’s a bit more complex. The IRS treats crypto as property, so when you donate, you’re not subject to capital gains tax and can deduct the fair market value on your tax return. Make sure you keep records of the donation’s value at the time of the transfer, and get a writtRead more
Actually, it’s a bit more complex. The IRS treats crypto as property, so when you donate, you’re not subject to capital gains tax and can deduct the fair market value on your tax return. Make sure you keep records of the donation’s value at the time of the transfer, and get a written acknowledgment for any donation above $250.
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