AmitaR
Employee Tax & Finance Expert

Get your taxes done using TurboTax

Hello lulukern123, 

Thanks for joining us!

Getting crypto as a gift is not a taxable event, but when you sell it, then your cost basis is treated as any other gift.  Your cost basis may be the same as the person who gifted it to you or it may be the Fair Market Value at the time of gift, it depends on how much you sell it for. 

 

https://help.coinbase.com/en/coinbase/trading-and-funding/sending-or-receiving-cryptocurrency/crypto...

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