Great question.
Giving a 2023 crypto gift under $17,000 in crypto: No tax implications for gifter. Gifts above $17,000: Gifter must report gift to the IRS, using Form 709. Gifts above $17,000 count toward to a lifetime gift exemption of $12.92 million ($12.06 million in 2022)
Receiving a cryptocurrency gift is not considered a taxable event. Gift recipients are not required to recognize your newly-received cryptocurrency as income. However, you may be subject to capital gains tax if/when you dispose of your cryptocurrency in the future.
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