ETHNews.com
2018-04-27 16:48:41

Should Ripple’s XRP Contribution To Nonprofit DonorsChoose Be Tax-Deductible?

Shortly before the FY 2017 tax filing deadline, Ripple contributed approximately $29 million worth of its XRP to DonorsChoose, a 501(c)(3) nonprofit organization. Depending on how the Internal Revenue Service approaches XRP, Ripple – the effective creator and steward of the tokens – could be eligible for a large tax deduction, though the implications of such a deduction are concerning.