94 Year old knew all about Green Stamps and bought One Thousand dollars of bitcoin in 2015

https://medium.com/altcoin-magazine/6-ways-to-avoid-capital-gains-tax-on-your-bitcoin-transactions-cdea03e17eb4Green Stamps + Bitcoin = “Blow Stamps”

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6 Ways to Avoid Capital Gains Tax on Your Bitcoin Transactions How to Legally Avoid Taxable Gains on Cryptocurrency

https://medium.com/altcoin-magazine/6-ways-to-avoid-capital-gains-tax-on-your-bitcoin-transactions-cdea03e17eb4

In 2018, its possible for individuals to gift up to $15,000 without documenting the transaction. If the amount is above $15,000 then a gift tax return would need to be filled (the annual gifting exclusion limit is $15,000 per individual). Did you know that US citizens can gift up to $11.2 million per lifetime?

One last point on Gifting — when the recipient cashes out (sells the crypto), the taxable value of the gift is determined by the market value on the day the gifting took place.

 

View at Medium.com

View at Medium.com

About Educational CyberPlayGround, Inc.®

Educational CyberPlayGround, Inc. strives to help Teachers, Parents, and Policy Makers Learn about: Music, Teaching, Internet, Technology, Literacy, Arts and Linguistics in the K12 classroom.
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