"Under US tax law, gifting Bitcoin ( BTC) is not an immediate taxable event. The recipient owes no income tax, and the donor typically owes no gift tax if the gift's value is within the annual exclusion limit. The Internal Revenue Service (IRS) treats digital assets as property, not currency. This means Bitcoin gifts fall under the same framework as stocks or real estate."
"A cryptocurrency gift must be a true transfer of ownership. You give up control and receive nothing in return. The 2025 annual exclusion allows up to $19,000 per recipient, or $38,000 for spouses using gift splitting, without filing Form 709. Exceeding that threshold does not automatically create a tax liability, but the form must still be filed. Gifts between US citizen spouses are unlimited."
Bitcoin gifts are treated as transfers of property under US tax law. Recipients of gifted Bitcoin do not owe income tax upon receipt, and donors generally avoid gift tax when the gift value stays within the annual exclusion. For 2025 the annual exclusion is $19,000 per recipient and $38,000 for spouses using gift splitting; gifts above that threshold require filing Form 709 though they do not automatically create tax liability. Spousal transfers between US citizens are unlimited; noncitizen spouse and nonresident transfers have different limits. Recipients inherit the donor's cost basis, and accurate records of value, date, and wallet details are essential.
Read at Cointelegraph
Unable to calculate read time
Collection
[
|
...
]