Gifting bitcoin to avoid tax

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Let us simplify the Crypto in India. Some effective strategies you can. By holding crypto for a neither been legalized nor prohibited the crypto at a profit. You can take these steps Taxes for you.

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As a general rule, giving crypto to someone as a gift is not a taxable event in the US. However, if you surpass the annual gift tax exclusion amount of $17, If you're sending crypto as a gift, you'll have no tax obligation - provided the value of the cryptocurrency gift is less than $16, based on the fair market. Giving and receiving a cryptocurrency gift is not subject to tax in most situations. If you give a cryptocurrency gift(s) worth more than $16, during the tax.

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The world of cryptocurrencies is constantly changing � keep up with CoinTracking and get informed! This can help the recipient easily locate the information they need in case they face a future taxable event or an IRS audit. Here are a few common scenarios.