Gifts of Cryptocurrencies

Gifts of appreciated Bitcoin and other types of cryptocurrencies may represent a new opportunity for those who have benefited from this new investment trend - to receive a full fair market value income tax deduction and avoid capital gains, while making a tremendous impact on Clara Maass Medical Center Foundation.

The added tax savings involved with gifting cryptocurrency is the avoidance of capital gains tax on any appreciation of your crypto. This means that in addition to a charitable income tax deduction for the fair market value of the crypto, you will not be charged in taxes on capital gains.

Please contact us if you are interested in exploring a gift of cryptocurrency.

Note: cryptocurrency holdings are considered to be "property" for tax purposes which means they are taxed in the same way as any other assets you own, like stocks or gold.