Is donating cryptocurrency to St. Jude tax-deductible?

3 answers

• Marcel MuellerNov 14, 2021 · 4 years ago
  Yes, donating cryptocurrency to St. Jude is tax-deductible. The IRS treats cryptocurrency donations as non-cash charitable contributions, and they are subject to the same tax rules as donating stocks or other property. However, it's important to keep records of your donation, including the fair market value of the cryptocurrency at the time of donation, as this will determine the amount you can deduct on your tax return. Consult with a tax professional for specific advice on your situation.
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• JeyaNov 24, 2022 · 3 years ago
  Absolutely! Donating cryptocurrency to St. Jude is a great way to support their mission and potentially reduce your tax liability. The IRS recognizes cryptocurrency as property, so when you donate, you can claim a tax deduction for the fair market value of the cryptocurrency at the time of donation. Just make sure to keep proper documentation and consult with a tax advisor to ensure you follow all the necessary steps for claiming the deduction.
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• INDRAJ VNov 07, 2024 · a year ago
  Yes, donating cryptocurrency to St. Jude is tax-deductible. As a leading children's research hospital, St. Jude relies on the support of generous donors to continue their life-saving work. By donating cryptocurrency, you not only contribute to their mission but also potentially benefit from tax deductions. However, it's important to consult with a tax professional to understand the specific requirements and guidelines for claiming the deduction based on your individual circumstances.
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