Is it legal to send btc to friends as gift to avoid capital gain tax?

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1 BTC = $36371.06 USD  (via Coinbase)
1 ETH = $1245.27 USD  (via Coinbase)
1 LTC = $145.50 USD  (via Coinbase)
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If A is American. A invested in Bitcoin when it was $100 per btc.

B is Hong Kong-er.

They are friends and they trust each other.

So, if A send 1 or 100 bitcoin to B now, need A pay tax for this "capital gain for btc from $100 to $1000"?

If the answer is NO, then A could send bitcoin to A as gift and A makes bank transfer to A as gift too, which is also tax-free.

So is it a legal way to save money on bitcoin's capital gain tax? Thanks.

submitted by /u/slaykdy
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Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $36371.06 USD  (via Coinbase)
1 ETH = $1245.27 USD  (via Coinbase)
1 LTC = $145.50 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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