IRS sets new rules on crypto charity deductions, details holding period, appraisal limits

🚨 IRS clarifies strict rules for crypto donations to charity, including new appraisal thresholds. 💡 Only gifts to qualified organizations can be deducted; direct donations to individuals generally do not qualify. 📈 The allowed deduction depends on holding period, asset valuation, and reporting requirements. 📝 The IRS requires clear proof and documentation for any charitable donation in $BTC or other cryptocurrencies. Continue Reading: IRS sets new rules on crypto charity deductions, details holding period, appraisal limits

Source: CoinTurk News