More and more people are purchasing cryptocurrency like BitCoin and Ether. Did you know there are tax benefits to donating cryptocurrency? It's true!
The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax deductible, to the fullest extent permitted by law. This means that when you donate Bitcoin and other cryptocurrencies to a 501(c)(3) nonprofit like Lutheran World Relief, you do not have to pay capital gains tax and it is tax deductible if you provide your email address.
To donate cryptocurrency, start here.
*Please consult your tax advisor. You can donate anonymously, but you will not receive a tax receipt.