Can anyone help me understand the potential taxes of gifting?
I'm trying to understand gift taxes for bitcoin in the event I give my mom bitcoin for her birthday.
I bought $100 of bitcoin a ~year ago, and now it's worth $300. When I gift the $300 worth of bitcoin to my mom by transferring it to her. Does she, or I owe taxes on it?
Do long term gains taxes apply? I am aware that long term gains taxes vary from 0%,15%, 20% based on your tax bracket. I'm unsure about how it works for Crypto gifts. Is it handled the same way as if i were to gift stocks?
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