If you own Bitcoin or another digital currency, chances are it is worth a lot more than what you paid for it. Many investors have a very low-cost basis and should evaluate the tax implications before cashing in.
One impactful option that can save you on taxes: Using cryptocurrency to support our mission.
Your cryptocurrency gift to the Lymphoma Research Foundation qualifies for an income tax deduction for its fair market value, up to 30% of your adjusted gross income (AGI) with a five-year carryover. If you have held your cryptocurrency for more than a year, you also avoid the capital gains tax you would have paid if you sold it.
How It Works
Step 1: Ask questions. Get in touch with us to find answers to any questions you may have about making a cryptocurrency gift. Alternatively, if you have a donor advised fund, confirm with them if you are able to transfer cryptocurrency into your account and recommend a grant to charitable organizations like LRF.
Step 2: Transfer your cryptocurrency. Use our online tool on this page to make your cryptocurrency gift, or work with your donor advised fund to make the transfer into our digital wallet.
This gift is right for you if:
- You would like to receive a federal income tax deduction in the year you make your gift.
- You would like to avoid capital gains tax.
- You would like to make an impact on our mission.
If you are interested in giving Bitcoin or other cryptocurrency to the Lymphoma Research Foundation, please contact Kate LeBoeuf at 646-531-5184 or email@example.com. We are happy to walk you through the process.