Do I Need a Crypto Appraisal for My Donation?

If you’re donating cryptocurrency and the value is over $5,000, the IRS requires a qualified appraisal to claim a tax deduction.

Cryptocurrency is treated as property for tax purposes, which means the same rules that apply to donating property also apply to crypto. While there are some exceptions, cryptocurrency donations are not exempt, so an appraisal is necessary for larger gifts. (🔗 IRS Publication 561)

• ✅ A qualified appraisal must be signed and dated by an IRS-approved appraiser.
• 🤝🏽 If your crypto donation needs an appraisal, we’re happy to put you in touch with a qualified appraiser.

Crypto Appraisal FAQs

What Is a Qualified Appraisal?

A qualified appraisal is an independent, written evaluation of the fair market value of your donated cryptocurrency, performed by an IRS-approved appraiser. It ensures your charitable deduction is properly documented. 🪙

• 📧 We recommend reaching out to support@thegivingblock.com to be connected with a qualified appraiser. (Please note that Overflow doesn't cover appraisal costs.)
• The Giving Block: 🔗 Appraisal Process & Qualified Appraisers

Do I Need an Appraisal for Crypto Donations Under $5,000?

❌ No. Appraisals are generally only required for donations over $5,000. Smaller donations typically don’t require a formal appraisal.

What Is Form 8282, and Do I Need It?

Form 8282 is used in rare cases when a charity sells donated property within 3 years of the donation. Most donors do not need to worry about it, but your tax advisor can confirm if it applies to you. 📄

Note: Overflow does not provide tax, legal, compliance, or accounting advice. This content is for general informational purposes only. Always consult your own professional advisors before completing a donation or filing tax forms.