ETHNews: 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.
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