IRS Form 709 Tutorial for 2024 - Gift of Bitcoin

The IRS Form 709 is filed by U.S. individuals to report taxable gifts made during the tax year.

In this example, we look at a taxpayer who gifts Bitcoin worth over $26,000 to her friend. The annual exclusion available in 2024 is $18,000, so the gift must be reported because it exceeds the annual exclusion limit per donee.

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