Q. Can I donate cryptocurrency and get a tax deduction?

Yes. We’re working on getting a specific ER wallet for Possible Planet. Meanwhile, here are some key points on donating crypto:

• Donations of cryptocurrency to a tax exempt organization are not subject to capital gains taxes and may be deducted from your overall gross income.
• To ensure you don’t trigger capital gains taxes, send your crypto gift directly to its charitable recipient. Do not cash out or convert it to another coin.
• You will need to provide substantiation of your donation from the recipient, as well a qualified appraisal if your donation is worth more than $5,000.
• Consult a tax professional for guidance about cryptocurrency donations over $5,000, particularly if you have donated an NFT.

(Source: https://tokentax.co/blog/tax-deductions-for-crypto-donations)

What is fiscal sponsorship?

Why does Earth Regenerators need a fiscal sponsor?