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Is there a "straw purchase" law for Bitcoin? If my friend gives me $250 and I buy $250usd worth of Sats on my exchange and tansfer to them IMMEDIATELY, theres zero profit for me, so there should be zero taxes. Does that create a problem I'll have to deal with?

beejay 4mo ago

I don't think it's a problem, but I've also convinced myself that no gains = nontaxable events 🤷🏼‍♀️

(I earn and spend, not hodl)

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Discussion

Leviticus Mathew 4mo ago

Right. All my bitcoin was lost with my guns and my seed phrase and ledger in the tragic boating accident that occurred at a time prior to this moment.

I dont even know why the IRS thinks I have anything. I'm just asking for my dog.

beejay 4mo ago

No, I was being serious tho 🤣