– Tax implications of shopping for Bitcoin for one more individual on trade


If I hyperlink a guardian’s checking account to a Coinbase account in my title, purchase Bitcoin, and ship to a {hardware} pockets for chilly storage, are the tax authorities within the USA more likely to assume there’s an unpaid present tax? How do I show that I used to be not being gifted the Bitcoin and was simply serving to a guardian purchase some Bitcoin for their very own self custody. Additionally, assume the quantity exceeds the annual restrict for present taxes which I consider is $15,000.

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