Last month, the United States Congress increased the tax benefits of charitable giving in the CARES Act in hopes that people will give more. Some give money; others give property; and a growing number have been giving crypto assets.
Once you have made the difficult decision of which charity or cause to donate to, your focus should shift toward your tax position. There are certain things to keep in mind when giving crypto assets — particularly considering how their volatility can affect your taxes and decision making.