Ashlea Ebeling
speaker
2,002 appearances
38 recordings
1 series
first heard Jul 2022
last heard Feb 2025
Ashlea Ebeling’s voice in public audio — every appearance, attributed to the second.
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Really, everybody, again, has the duty to report their sales.
But they're seeing these investors at risk of really difficult audits.
And then
In extreme cases, the Justice Department's also cracking down on tax fraud in the crypto area.
So even when it's not related to another crime like money laundering, so just flat out crypto fraud.
There was one recent case in September, an early crypto investor from Texas.
He pleaded guilty to filing tax returns that falsely reported his crypto gains of $3.7 million sale.
And then he actually failed to report Bitcoin sales on later returns.
So once you're in there, if they look at one return, you could have a bigger problem if it's been several years of underreporting or not reporting.
That's still unfortunately thrown out there at some places and social media, but there's no question about it.
If you're selling it, it's taxable.
There are gray areas around lending and around forks, which is like a stock split.
So some taxpayers have treated those differently and they can face challenges from the government.
And one thing we think is possible that the industry and taxpayers could get some clear answers on those gray areas with new legislation under the incoming Trump administration and the Republican-led Congress.
So those are two different scenarios.
To take the friend or family member first, tax rules allow individuals to be really generous.
For 2024, you could give crypto of up to $18,000 to any individual tax-free using what's called the annual gift tax exclusion.
And then if you give more than $18,000, you have to file a gift tax form with the IRS, but there's still no tax owed unless you're like way over your...
lifetime estate and gift tax exemption of $13.6 million.
And then on the charity side, as prices are going up, charities tend to see more donations of Bitcoin.
Showing 281–300 of 2,002 · page 15 of 101
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