The world of cryptocurrencies is new, innovative and ever changing. Depending on the cryptocurrency, if you got in on the ground floor, there’s a good chance that you’ve seen a sizable return on investment — as well as a large tax bill.

If you are hoping to avoid the IRS getting all of the money you’ve made on your crypto investments, perhaps you should consider another route altogether this tax season: giving it away to a worthy cause.

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Here is why donating crypto could be the smartest move you make this year.

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Adam Nash, CEO and co-founder of Daffy, a modern donor-advised fund platform, highlighted that when it comes to tax codes, charitable deductions are one of the most generous ones allowed, giving the taxpayer the ability to deduct donations of assets up to 30% of their adjusted gross income in any given year.

According to Fidelity, some assets that can be donated are stocks, bonds, mutual fund shares and cryptocurrency.

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If you are fortunate enough to hold crypto that has appreciated in value for more than one year, you can donate it and not worry about paying capital gains taxes, according to Nash.

“You’ll reap the benefits of one of the most generous deductions in the tax code. When you donate crypto that you have held for more than a year to a qualified public charity, the IRS considers the donation value to be the fair market value of the asset at the time,” he said. “Not the value you paid for it — the current fair market value.”

Ephraim Olson, co-founder of CPAI, the AI-powered crypto tax reconciliation, preparation and filing platform, also pointed out that donating appreciated assets from cryptocurrency investments to charity, as long as certain conditions are met, can be an excellent way to maximize savings.

“Provided all the rules are followed, the donating taxpayer is able to deduct as a contribution the fair market value of the property even though their cost of the property is much lower,” Olson explained. “In other words, the taxpayer gets the donation benefit of the appreciation without having to first recognize the tax on the appreciation.”

Ultimately, donating crypto and itemizing tax deductions can result in saving money. “If you itemize your tax deductions, this means donating appreciated crypto can result in money saved for the taxpayer and more money for the charity,” Nash said.

Olson explained that in the crypto world, there are specific appraisals and other requirements that must be met for tax purposes. However, should they reach that standard, a taxpayer could potentially capture the value of a bull run without first having to recognize tax on the growth.

“Right now in the cycle there may not be as much growth in certain crypto assets, but if the market changes over the remainder of the year, there may be opportunity for excellent savings by donating crypto,” Olson said, adding that there are limits on how much income can be offset by donations of appreciated assets and strict rules that must be followed for obtaining an appropriate appraisal.

“Many of these requirements cannot be cured later and so if they are missed the donation will not be deductible,” Olson said. “It is important to always use professionals to ensure all rules are followed.”

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This article originally appeared on GOBankingRates.com: Why Donating Crypto Could Be the Smartest Tax Move You Make This Year