Now it’s even easier to donate crypto securely and tax-efficiently* to Community Partners International through our partner, The Giving Block. In the U.S., a cryptocurrency donation is classified as property by the IRS, which means it is not subject to capital gains tax and is tax-deductible. Choose your donation method below and make a cryptocurrency donation today.
*U.S. taxpayers only. Community Partners International (CPI) is a U.S. 501(c)(3) nonprofit organization. Contributions to CPI are tax deductible to the extent allowed by law. Tax ID 94-3375666
Donating a non-cash asset like cryptocurrency and stock is one of the most tax-efficient ways to support Community Partners International. Investors can enjoy big gains because of crypto’s volatility. Donating crypto can help you offset those gains, so you can save more and give more.
Navigating cryto tax codes can be tricky. The Giving Block has put together a suite of resources to help you unravel the complexities of cryptocurrency taxation.
In the U.S. and several other countries, donating non-cash assets like crypto and stock to qualified charities has significant tax benefits. Donated crypto and stocks generally aren’t subject to capital gains tax, which can be as high as 20%. In some cases, these donations can also qualify for a charitable dedication on your tax returns. The result is often a big boost in tax savings for you, and more to give in support of your favorite causes.
Typically, you can calculate capital gains by subtracting the fair market value of your assets when you purchased them from the fair market value at the time of sale (or donation). Capital gains taxes are incurred on appreciated assets, and depend on several factors including how long you held the asset and your total income. To determine how much capital gains tax you may owe, we recommend that you consult with a qualified tax advisor about your unique financial situation as Community Partners International is not qualified to give tax advice.
In the U.S., IRS Form 1040 D is used to report short-term and long-term capital gains and losses.
Yes, the IRS and other federal tax-collecting agencies will likely request donation receipts as proof of your charitable giving. The Giving Block generates tax receipts for donors who opt to receive one. These donors will receive their tax acknowledgment receipts via email.
If you need a charitable crypto or stock donation appraised, we recommend consulting with a qualified gift appraiser. If you plan on making a large donation, The Giving Block’s Private Donor Services team can assist you.
Yes, there are several reliable tools and services you can use including Accointing, Cointracker, CoinTracking, Markum LLP, TaxBit, and Zenledger. Looking for a quick estimate? Use The Giving Block’s Tax Benefit Calculator for Crypto & Stock Donations.
The Giving Block’s team is available to answer any questions you may have about using their Donation Form or any other questions about donating crypto and stocks. Contact them at contact@thegivingblock.com.
Alternatively, you can contact us for assistance.
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