Digital Assets - Crypto Gift

Hello -

If I received a gift in crypto that I transferred from a friend's wallet to mine but did NOT sell it and still have it held in my wallet, would I answer yes or no to the digital assets question?

Thank you!

657

Employee Tax Expert

Feb 20, 2025 8:08:45 AM

It depends. If the question is asking do you OWN any digital assets, then you would answer yes.

If the question is asking did you sell, trade or dispose of any digital assets, then you would answer no.

New Member

Feb 20, 2025 8:10:00 AM

Thanks so much - the question is worded as such "Did you have a financial stake in a digital asset?"

Employee Tax Expert

Feb 20, 2025 8:12:51 AM

Yes. Then if you were gifted crypto, you would answer yes you had a financial stake in a digital asset even if you did not sell it.

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Digital Assets - Crypto Gift