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New Member
posted Jun 14, 2021 8:03:10 PM

If I was gifted bitcoin and then gifted it to someone else, does this count as me "acquiring, selling, or exchanging virtual currency"?

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Level 15
Jun 14, 2021 8:10:05 PM

No, gifts are not reported on an income tax return, but if it was worth $15,000 or more then you must file a form 709 - gift tax return  (no actual tax but applies to your lifetime 14Million exemption.