Hi all,
I am new to the tax purposes.
My father want's me to gift a bitcoin and I wanted to know what are the tax implications on me if I sell the bitcoin in a month?
Regards,
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Hi @Nilaymavani,
When you gift cryptocurrency to someone you've disposed of a capital asset and a capital gains tax (CGT) event has occurred. You'll need to determine your capital gain on this disposal based on the market value at the time. We've got a crypto gifting article that should explain your tax implications further.
Hope this helps, let us know if you have any questions.
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