Donating crypto is not spending crypto. When you donate cryptocurrency to a nonprofit, you generally owe no capital gains tax. Donations of cryptocurrency to 501(c)3 or other tax exempt nonprofits that fall under Section 170(c) of the Internal Revenue Code are tax deductible, in a very similar manner to stocks and or other property.
In practice that means that you can deduct the “fair market value” of your cryptocurrency donation, such as Bitcoin, DASH, Ethereum, Zcash, or other cryptocurrencies at the time of the donation.
We are volunteer driven but we also collect donations. Your donation will be put to good use to directly support our actions. For example, we provide gloves, bags, and water at community cleanups.
Contributions allow us to plan and budget for regular community action. Donate today.
We Heart West is a 501(c)3 charitable organization and our EIN is 83-2037990.