Cryptocurrency Q&A
Can I receive Bitcoin as a gift?
Can I receive Bitcoin as a gift?
DongdaemunTrendsetterStyleIconTrend
Sat Nov 30 2024
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5 answers
1282
I'm wondering if it's possible for me to receive Bitcoin as a gift. I've heard a lot about cryptocurrency and I'm curious to know if someone can send me Bitcoin as a present.
5 answers
ZenMindful
Mon Dec 02 2024
Giving crypto as a monetary gift does not attract taxes unless specific conditions are met.
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Claudio
Mon Dec 02 2024
The threshold for triggering taxes on crypto gifts is tied to the annual gift tax exclusion limit.
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JejuSunshineSoulMateWarmth
Mon Dec 02 2024
For the year 2024, the annual gift tax exclusion limit stands at $18,000 per recipient.
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emma_grayson_journalist
Sun Dec 01 2024
If the value of the crypto gift exceeds $18,000, the donor is required to file a tax report.
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Carolina
Sun Dec 01 2024
The tax report for exceeding the gift tax exclusion limit is filed using Form 701.
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