asked

If I bought $1000 worth of Bitcoin a few months ago, and it is now worth $3000, and I donate the Bitcoin directly to a charity without redeeming it for cash first, do I owe taxes on the $2000 in capital gains (assuming I take the standard deduction and don't itemize donations)? Does it matter if the Bitcoin is held for less than 12 months (short term) or more than 12 months (long term) for tax purposes?

August 17th, 2024

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