$38.32 -5.67%
NEO · 2d

USA Tax Q!!! elp sos - Is sending cryptocurrency from my wallet to someone else's (aka a family member) considered a taxable event???

For ex, if I want to send my Neo (NEO) or Gas (GAS) to a family member to accumulate our holdings to stake at a higher return, is that considered a taxable event because I have now exchanged from one person to another, not just to yourself who own multiple wallets? IRS indicates as long as you are transferring to yourself among multiple wallets that you own, it is not, but what if I'm sending it to a wallet with someone else's information? Is that considered not your "own"? Even though I didn't technically sell it to my family member, but just to hold them? Just want to be prepared as staking is a passive income and taxable - what would happen if i were to transfer my part of the stash back to my wallet or exchange for my income at the point of selling?
Go to self.NEO
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