Tax on gift?

Jake Shin asked 12 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 12 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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