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Perspective
Charitable gifts of crypto: Old rules for new assets
Taxing cryptocurrency and compliance today
Many types of digital assets take different forms of property, per the tax rules. As such, gifts of cryptocurrency may represent new investment vehicles. But avoiding tax consequences and ensuring crypto tax compliance means understanding how old rules apply to these new assets.
How do tax rules apply to gifts of cryptocurrency?
As digital assets (aka cryptocurrency) are seeing increased adoption, donors and charities alike are looking for opportunities to give or receive some type of digital asset as a contribution. Charitable gifts of digital assets can pose significant questions for both the donors and the recipient charities, as current tax laws were not necessarily designed to address digital contributions.
