Cryptocurrency

Making a gift of cryptocurrency to support a Community Foundation charitable giving fund provides a tax-wise opportunity to give back to the causes you care about.

Benefits of Making a Gift of Cryptocurrency

• Eligible for a charitable tax deduction for the value of the cryptocurrency at the time of the gift.*
• Avoid capital gains taxes on cryptocurrency investments held long-term by donating cryptocurrency directly.
• You may qualify for the Endow Iowa Tax Credit, a 25% state tax credit.
• Support the causes you care about with the cryptocurrency you already own.

*Because cryptocurrency is classified as property, additional documentation, including an appraisal, may be required before the donation can be completed. Talk with your tax professional to learn more. 

How to Get Started

• By donating appreciated cryptocurrency directly to a charitable giving fund at the Community Foundation, you can maximize your support. Because the IRS classifies cryptocurrency as property, you receive a tax deduction for the fair market value of the cryptocurrency, while avoiding capital gains tax. Because cryptocurrency is classified as property, additional documentation, including an appraisal, may be required to claim your tax deduction. Talk with your tax professional to learn more. 
• The Community Foundation utilizes Engiven as a trusted partner to facilitate cryptocurrency donations. Engiven accepts nearly 100 types of  cryptocurrencies, including Bitcoin and Ethereum. 

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