C1989
Joined: 12/4/2024
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RE: Crypto transfer to spouse
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RE: How to Gift Crypto Assets to Spouse
Adding to this thread, I was wondering if anyone had any feedback on this example. All figures are made up. 1 BTC purchased with GBP on 01/10/24 at £40,000 1 BTC sold to USDT on 01/12/24 at £43,000 equivalent price. All USDT sent to wife's wallet on 02/12/24. Would this be considered a taxable event where I'd of made a £3,000 gain and my wife's non gain/non loss price is £43,000 so long as she holds for 30 days? Or would the price pass on to my wife at £40,000 as I am gifting all the USDT to her? This scenario is to determine if it matters if the coin is sold before or after the transfer. Thanks in advance