Ask Terry Questions Crypto donation to charity

Crypto donation to charity

By Terry Savage on January 07, 2025 | Wild Card

How do i donate my COINBASE account to charity and is there a carryover if over $30k?

Terry Says

OMG — I have no idea how you would donate this to charity. So I did a little research, and it seems you are not alone in wanting to do this!
Read this article: https://www.coinbase.com/learn/crypto-basics/how-to-donate-crypto

Thanks, I learned something!
And it falls under the rules of charitable donations. You can donate an unlimited amount to a charity, without paying capital gains taxes. But the amount you can DEDUCT depends on your income. So you might want to spread your donation over a few years. Consult your accountant on the allowable deduction for charitable donations based on your income.

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