As I’m receiving rewards for my nodes daily, I understand this falls under income tax. Am I able to gift 12500 to my spouse still and this will reduce from my income tax or does this only apply to capital gains
I believe you are thinking of a spousal gifting strategy where you transfer significantly appreciated crypto that you want to sell to your spouse who can sell the crypto and shelter their gains from tax using their capital gains exemption (assuming they have not already used it to shelter their own gains).
This really depends on the country you are in. Luckily we have guides here covering most jurisdictions and detailing if/how gifting crypto is a taxable event in each of them Cryptocurrency Tax Guides & Help | Koinly
If you’d like to share more of your individual situation so that we can give you a more detailed answer, you can always reach out to [email protected] and we will walk you through it
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