Save on your taxes by donating crypto
There’s a reason high-net-worth individuals tend to donate property instead of cash. Donating cryptocurrency directly to a 501c(3) nonprofit is more tax efficient and can save you money. The IRS classifies cryptocurrency as property for tax purposes, which means it is typically the most tax-efficient way to support your favorite cause. When donating crypto, you receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more on your tax return.
- Just like donations of appreciated property like stocks, donations of appreciated cryptocurrencies that have been held for at least a year can be deducted at full fair market value without ever realizing the gain, up to 30% of adjusted gross income (AGI) with a five-year carryover.
- While appreciated assets held less than a year avoid any capital gains taxes, they can only be deducted at cost basis, up to a 50% AGI with five-year carryover.
This information is current as of 2021; please consult a tax expert for current and definitive details.
The 501(c)3 nonprofit Tax ID for the Clean Coalition is 14-1901877.
FAQ
How do I donate Bitcoin and other cryptocurrencies?
Donating cryptocurrency to the Clean Coalition is easy. Use the crypto donation widget above, select your cryptocurrency type, complete the information, receive the wallet address, and make your donation.
Where do I get the wallet address to complete my donation?
You can access all of our wallet addresses by using the crypto donation widget above. After you enter the type of cryptocurrency and reach the third step, you will receive a unique wallet address that can be used to complete your donation.
How many times can I use the wallet address provided to me?
Once you’ve filled out your information and received a unique wallet address, you can use that address as many times as you wish without having to re-enter any information.
Will I get a receipt with my donation?
If you provide your email address, you will automatically receive a tax receipt after donating.
Can I donate anonymously?
Yes, but we cannot provide tax receipts to anonymous donors. To get a tax receipt, you must enter your email address.
Which cryptocurrencies do you accept?
We accept many cryptocurrencies, including the following:
