In his Estate Planning and Philanthropy column, Conrad Teitell, a principal at Cummings & Lockwood, writes: Now that the IRS has specified the many tax ramifications of virtual currency transactions, bitcoins as potential charitable gift could be right around the corner.
April 25, 2014 at 12:00 AM
1 minute read
A new type of potential charitable gift is virtual currency. And this gift could be right around the corner now that the IRS has specified the many tax ramifications of virtual currency (bitcoin) transactions. See notice 2014-21 (March 25, 2014) for the details.
But the IRS doesn’t give the tax rules for charitable gifts of bitcoins. So here is my take on that topic.
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