Charitable Donation of Cryptocurrency Must Be Valued by Qualified Appraisal, Not by Cryptocurrency Exchange (IRC §170)

Taxpayer donating cryptocurrency claimed charitable donation deduction over $5,000 requires eligible evaluation under IRC § 170(f)(11)(C) subject to deduction § 170(a)if the taxpayer determines the value of the donated cryptocurrency based on the value reported by the cryptocurrency exchange on which the cryptocurrency is traded, rather than by obtaining a qualified valuation, as provided in § reasonable ground exception170(f)(11)(A)(ii)(II) makes no excuse for non-compliance with eligibility requirements and taxpayer A is not entitled to a deduction for charitable donations under §.170(a),…