Gift whole portfolio to spouse

I was wondering how can I gift my whole portfolio without actually having to transfer crypto from one wallet to another. Gifting the whole wallet access or exchange account.
I’ve been stupidly paying a higher income tax for staking rewards when this could all be done in my wife’s name.
I’d like to keep the same accounts and the locked staking but transfer everything to my wife.
Is this possible to do? I imagine binance or crypto.com for instance, needs to be an actual transfer to an account in her name but defi wallets shouldn’t matter.
Has anyone done this? Can I backdate this transfer?

Thanks.

Well, I do not know what applies about backdating a transfer in your country, but gifting crypto to someone else in order to reduce your income tax means transfering your assets to them. This proof of ownership is proven after all by a recorded transaction on the ledger with timestamps, amounts, etc. So no, if you want to be 100% safe then a transaction must take place.

Moreover, gifting is a quite “strict” process and does not include gifting staking, defi, or derivative products, since they are in an undergoing process which returns earns, interest, or may occur loss at any time. You can only actually gift an X amount of your crypto to someone, send them a crypto gift card purchased from an online retailer, gifting an NFT, etc. So, I am pretty sure that changing a DEX’s account owner to someone else does not make you eligible for gifting (do not even try that before conducting that DEX’s support team, you could easily have your account suspended due to a possible hack attempt or wash sale depending on DEX/personnel/country law, and they are not going to ask you ^^).

Hello Cacurcio,

Thank you for your question.

Technically, a few transactions are needed within Koinly to apply the Gift label (more specifically, a withdrawal). You can find an overview of how to label a gift within Koinly here:

How to label a tax-free gift to a spouse

As for the tax implications or necessities of how to gift your crypto correctly, we cannot really comment much as we are not trained to give tax advice. You can find a list of crypto-aware accountants here:

Crypto-accountants

I hope that helped. Please let us know if there’s anything else.

Have a great day!