FAQ’s

What is the tax benefit of donating appreciated stock?

Donating appreciated stock that you've held for over a year could allow you to save up to 20% in capital gains taxes and potentially up to 37% in federal income taxes on the charitable donation value of your gift based on your tax bracket when itemizing deductions. To understand the full tax benefits of giving appreciated stock, including potential state tax savings, please consult with your tax professional for information about your personal tax implications.

 

What specific stock can I donate?

You can give any publicly traded stock through Engiven. By donating assets that have appreciated in value for more than one year, you are more likely to maximize the potential tax benefits of your gift.

 

What is cryptocurrency? 

Cryptocurrency is a decentralized digital form of currency based on blockchain technology. Unlike the U.S. dollar or Euro, no central authority manages and maintains the value of a cryptocurrency. Instead, cryptocurrency is broadly distributed among its users via the internet.

 

Are cryptocurrency gifts tax-deductible? 

Yes―your cryptocurrency donation is tax-deductible. Because it’s a non-cash donation, it will not appear on your regular end-of-year giving statement. Instead, you will receive a separate letter acknowledging your gift(s) for tax purposes. 

 

Why should I consider giving through cryptocurrency?

A cryptocurrency gift is one of the most tax-efficient ways to give to Life.Church. Because donating cryptocurrency is a non-taxable event, you don't owe capital gains tax on the appreciated amount and you can deduct it from your taxes.