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


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

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