IRS Crypto Memo for Deducting Cryptocurrency Donations
Internal Revenue Service IRS released memorandum CCA 202302012 concluding that qualified appraisal is required when taxpayer claims charitable contribution deduction exceeding $5,000 for donated cryptocurrency. Valuations reported by cryptocurrency exchanges not qualified appraisals.
Revenue Service Us Department Of The Treasury Us Congress Internal Revenue Service Revenue Code Section Crypto Donations
Source: natlawreview.com