What are the tax implications of gifting cryptocurrency to a minor?

1 answers

• May 01, 2022 · 3 years ago
  At BYDFi, we understand the importance of tax implications when it comes to gifting cryptocurrency to a minor. It's crucial to consider the specific rules and regulations set by the IRS. Gifting cryptocurrency to a minor may trigger gift tax rules, and it's essential to be aware of the annual gift tax exclusion and the lifetime gift and estate tax exemption. While gifting cryptocurrency to a minor can have tax advantages, it's always advisable to consult with a tax professional to ensure compliance with the latest tax laws and regulations. Our team at BYDFi is here to provide expert guidance and support for all your cryptocurrency-related tax questions.
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