Donating appreciated cryptocurrency to a qualified charity generally avoids capital gains tax and allows a deduction for fair market value, but donations over 5,000 dollars require a qualified appraisal and Form 8283.
The IRS has confirmed that an exchange price printout is not a qualified appraisal. Crypto held one year or less is deductible only at cost basis. Donor-advised funds accept most major assets.
Why it matters: the appraisal requirement trips up donors every year, and a missing appraisal can disallow the entire deduction.
IRS crypto audits and letters, unreported years, theft loss opinions, and returns that survive an audit.
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Definitions are general information, not legal advice, and may not reflect the most recent changes in law.
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Foreign accounts, expats, offshore disclosure.
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