I have a particular question about crypto, gifting, donating and tax exemptions.
Now I’ve done my share of research and everything comes up as this, gifting/donating crypto is a non taxable event. Correct me if I’m wrong please…
Now my loophole minded brain began putting words together as many do to form statements, questions, opinions, etc…but I couldn’t help but think…
If a token was created, please follow along before you call me a dumbass, if a token/coin was created and the way to get this token/coin was through an exchange. But this particular exchange only ACCEPTS donations. In return for your generosity, a token/coin is returned to the individual as a sign of appreciation and thanks. Now a few months down the road see hey this has increased in value. And you decide to donate your gift back to the exchange from which it came. Now upon donating the item, you again are rewarded with a gift of idk bitcoin…
The Point…
Person A donates crypto (non taxable event has occurred?)
Donation Exchange gifts you a “thank you” token/coin. (non taxable event has occurred?)
Person A donates gift crypto (non taxable event has occurred?)
Donation Exchange gifts crypto/item of equal or more value. (non taxable event has occurred?)
……..
If worded correctly, could then ANY crypto be donated and vice verse as long as it’s a voluntary donation/gift exchange between both parties leading the event to being nontaxable?
No comments:
Post a Comment