If I am given $20k in bitcoin from someone else and immediately convert it to USD, is that taxed?
If I am given $20k in bitcoin from someone else and immediately convert it to USD, is that taxed?
byu/berrysauce inBitcoinBeginners
Posted by berrysauce
2 Comments
You will be taxed on gains only, and gifts will be taxed. If you want to reduce or bypass the tax, hmu
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