Quote from: Vcat500 on Today at 07:41:30 AM

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?

Gift are taxed according IRS, there's no such like there's a gift to be taxed or a gift not to be taxed. The rate are vary from 18%-40%.

The authority will not know the source of the coins you get especially the sender aren't US citizen, you can clarify how you get the coins and give the evidence. But, if the authority not believe in you and they found something suspicious, you would be in trouble.

https://www.nerdwallet.com/article/taxes/gift-tax-rate
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