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    Author Topic: Give Away Bitcoin To Avoid Estate Tax  (Read 510 times)
    stompix
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    March 31, 2024, 01:45:17 PM
     #21

    Let's say Satoshi wanted to avoid the estate tax, set to go back to 45% on all amounts over $6.8 million beginning in 2025. Assuming he is alive, that would be quite the tax bill. Government would be salivating at the prospect.

    Is it theoretically possible if you were Satoshi to just give away $17,000 worth of Bitcoin randomly to 4 million addresses, utilizing the legal annual per-person gift tax loophole? Would such an event even be workable if Satoshi (or anyone else) wanted to give away $17k each randomly? Could the choosing of addresses be achieved by a computer program? Would there be any way to know if the incoming .25 Bitcoin per giveaway was legit and not some scam if you saw it waiting for you?

    Thoughts?

    The estate tax is not capital gains tax.
    You have a limit on how much you can send in gifts before the gift tax gets triggered, that's around 12 million, and you're planning on gifting 68 billion.
    You make a lot of assumptions on what can and what would be tax but Satoshi won't even need to send those transactions, there is no need for it since nobody knows and nobody can prove x or y own those coins. Also, ok he sends those coins as gifts, how does he explain the extra millions he and his heirs will end up with?

    If Satoshi sell his coins and he use bank account,

    If that ever happens it will be the biggest blow to Bitcoin that it could ever receive!

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