Tax on gift?

Jake Shin asked 7 months ago

Let’s say my parents in other country send me 100 bitcoins.
If I want to sell all 100 bitcoin and transfer the money to my bank account in U.S., is that money taxable or not?
I’m a California resident.

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1 Answers
Zsofia Elek answered 7 months ago

Hi Jake, 
The regulation of Bitcoin has very different treatment in each country and there are differences between even the US states how they treat cryptocurrencies. I suggest you find a local tax consultant who is familiar with digital assets and the local legislation about Bitcoin in your area.

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