If you contribute certain non-cash assets, such as cryptocurrencies and securities, that exceed $500 in value, you will be required to file an IRS 8283 Form with your federal income tax return. It is always best to consult your tax specialist to understand your specific situation. Contributions of cryptocurrencies and other forms of property may be subject to further requirements. If your crypto contributions in any calendar year exceed $5,000, the IRS requires you to obtain a qualified appraisal.
Written by SupportUpdated over a week ago