Fidelity Charitable Makes Crypto Donations Pain Free (3/5)

Fidelity Charitable is a charity organization run by Fidelity. You can choose various charities to support, so this is kind of like a ‘variety pack’ in the crypto charity list. I use Fidelity’s debit card whenever I travel to avoid international transaction fees and have nothing but good things to say about the bank (your mileage may vary).

On the website, it goes into how donations affect taxes.

“Before you sell bitcoin and donate the after-tax proceeds, consider donating your bitcoin directly to charity. This model includes two significant benefits, both for you and the charity:

• Your tax deduction will be equal to the fair market value of the donated bitcoin (as determined by a qualified appraisal).
• Your gift to charity will be larger because instead of paying capital gains taxes, the 501(c)(3) charity will receive the full value of your contribution.”

Interestingly, the company also allows individuals to donate stocks, options, and other appreciating assets as well!

Donate your crypto pre-tax!