FAQ

What exactly are the potential tax benefits of donating crypto?

Donating crypto directly to charity can save you money on two types of taxes:

1. Avoid paying any capital gains tax on your crypto gains.

2. Receive a federal income tax deduction for the full value of your crypto (state and local income tax deductions may also be available).

An alternative is to sell your crypto and donate the cash proceeds, but you would first owe capital gains tax on the appreciation, resulting in higher taxes for you and less dollars going to furthering the mission of the charity.

What will be the dollar value of my donation?

The value of your donation will be indicated in the tax receipt, and will correspond to the exchange rate at the moment we converted your gift to US dollars (usually within 10 minutes after receiving your gift).

What happens with my crypto donation?

Your donation goes to a 501(c)(3) tax-exempt charity we’ve partnered with called "FreeWill Impact Fund" — that's where your tax receipt will come from. Then, your crypto gift will be liquidated and the net proceeds will be sent to us in USD, which we’ll use to support our mission.

How can I claim a tax deduction for my crypto donations?

See our guide on Tax Deductions for Crypto Donations.

What about blockchain transaction fees?

You will have to cover blockchain transaction fees.

Can I donate multiple different coins?

Absolutely. You just need to do it one at a time.