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IRS Crypto Memo for Deducting Cryptocurrency Donations

Published: January 20, 2023

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.

Source: natlawreview.com

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Revenue ServiceUs Department Of The TreasuryUs CongressInternal Revenue ServiceRevenue Code SectionCrypto DonationsInternal Revenue ServiceOnated CryptocurrencyCa 202302012Ualified AppraisalsRs On Crypto Donations