Hi lulukern123!
When someone gives you property, the donor's basis becomes your basis. There would be no tax to you until you sell, exchange or dispose of the crypto. Then, you would calculate your gain or loss by comparing your proceeds to the basis from the person who gave it to you. In order to determine whether your gain or loss is long term or short term, you will include both the period the crypto was held by your mother as well as the period held by you.
Thanks for participating in TurboTax's Ask the Expert Event today!
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
