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

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.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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