Why Donate Bitcoin to FARE?

FARE is the largest private funder dedicated to Food Allergy Research & Education

Crypto works similar to stock donations, crypto offers a more tax efficient way to donate because cryptocurrency is classified as property. For donors, that means no capital gains tax and a fair market value deduction. That can often mean a 20-30%+ larger donation and deduction. Donating bitcoin directly can benefit both the donor and the nonprofit, by bypassing the capital gains tax. Your support will help increase awareness, advocacy, research, and education for the 85 million American living with food allergies and food intolerances.

Save on your Taxes by Donating Crypto

Why Donate Crypto Directly? Taxes! There’s a reason high net worth individuals tend to donate property instead of cash. Donating cryptocurrency directly to a 501c3 nonprofit is more tax efficient and can save you money. The IRS classifies cryptocurrency as property for tax purposes which means it is typically the most tax efficient way to support your favorite cause. When donating crypto, you receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more on your tax return. The difference? Sometimes more than 30%. If you provide an email, you will automatically receive a tax receipt after donating.