When someone sends you crypto on your receive address to your exchange, how does the exchange know if these funds are to be taxed or not when they prepare the forums at the end of the year? I can understand if you bought assets and they gained value and then you transferred them to your bank, the capital gains would be taxed. But if you received funds from family, or donations on your receive address, how does the exchange, or IRS know if they are taxable or not as there are no notes with these transfers?
You do not need to bother about this because you have no tax to pay when your family send you money. But if the coin increase in price, you will have to pay tax. The government might not know and many people can invade tax but being a good citizen will let you know when you should pay tax.
My second question was:I have a second account at Binance. I had 100 coins I was trying to move over to Coinbase, but got an error saying that you need 400 of these coins to be-able to move them. A Binance support rep on the Redit forums said, "you might be able to email support, but usually the rules are fixed." If the value of the assets increased to the point where the buyer can't afford to buy 300 more, then the coins are stuck on the exchange according to what the support guy said. My question is: Where do I look to find out what the minimal supply must be to move the coins? and does this also apply to moving them to my bank account if I just wanted my money back?
You can see the minimum amount that you can withdraw on exchanges when you click on withdraw and the coins. Also you will see the fee for the withdraw.