4 ms·
Is the donation still tax-deductible if you do it through a NFT?
by advisedwang 5y ago
Is the donation still tax-deductible if you do it through a NFT?
- motohagiography 5y agoI've suspected that the point of NFTs is to transfer cryptocurrency into an asset with a different volatility proifle without "realizing gains," or even use them as loss makers to offset capital gains, so indirectly, maybe?
- 8note 5y agoAre purchases from charities tax deductible? I thought it was only donations
- gowld 5y agoThe amountyou pay in excess of the market value, is deductible as a donation. This is how charity auctions of commodities work. What's the market value of the NFT? Who knows?
- criddell 5y agoThe market value is whatever somebody is willing to pay. If PG will pay $2.6 million for the NFT, that's its market value.