Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
By the way jbreher, recently I had mentioned you as a guy who seemed to be having difficulties with unit bias, so hopefully you have recently gotten over gifting bitcoin in 1 coin increments.
I stopped gifting in 1 BTC increments when the $USD value of 1 BTC exceeded the IRS nontaxable gift maximums.
so, basically we will be able to gift whole cornz again later this year?
buy the dip lol?
If anyone wants to continue gifting whole coins, there is no tax on gifts nor limits here in Canada.
There is no 19K limit, the excess is not taxable to the donee, but is taxable to the donator ONLY when you exceed your lifetime gift tax exemption which is currently $13.99 mil per individual.
Soo...it still takes lots of btc to go over (roughly 126 btc if given in one go).
That said, after $13.99 mil taxes are brutal-I think 40% or so.
The best is to simply stay below $19K per person (from one person).
A couple can give 19=19=38K to each kid per year and never run afoul of 13.99 mil maximum (</= $19K is treated as if you never gave anything, imho).