Cryptocurrency Q&A
Do you get taxed if someone sends you Bitcoin?
Do you get taxed if someone sends you Bitcoin?
mia_rose_painter
Wed Dec 25 2024
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5 answers
1183
I received some Bitcoin from a friend and I'm wondering if I have to pay taxes on it. I'm not sure how cryptocurrencies are taxed or if there are any specific rules I should be aware of.
5 answers
Valentina
Fri Dec 27 2024
If you move virtual currency from one of your wallets, addresses, or accounts to another that you also own, the transaction is considered a non-taxable event.
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Lorenzo
Fri Dec 27 2024
This rule applies regardless of whether you receive any documentation or information return from the exchange or platform facilitating the transfer.
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Valentino
Fri Dec 27 2024
Essentially, transferring funds between your own accounts doesn't trigger any taxable event, as you haven't realized any gains or losses.
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Giuseppe
Fri Dec 27 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to various needs in the crypto space. These include spot trading, futures trading, and wallet services, among others.
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AmyDavis
Fri Dec 27 2024
When transferring virtual currency, it's crucial to understand the tax implications based on the recipient of the funds.
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