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r/tax • … • u/ronnevee

Crypto, donations, taxes.

If I donate crypto to a public charity, how does that affect taxation? If I paid 100 for the coin, and it's now worth 1000, by donating I avoid having to realize that 900 in gain and pay taxes, correct? There is no additional deduction on my taxes, and it's not subject to itemizing on the scheduled A? Does this need to be recorded on taxes at all?

The best way to donate is to donate the coin, without selling, so the charity gets the pre-tax value.

Do I understand this correctly?

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