Quote:
Originally Posted by sickmantz
The gift allowance for 2021 was $15k and gift taxes in excess are paid by the giver.
If you received $6k worth of coins from your father as a gift, that's not taxable to either of you.
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If he received them as a gift, his cost is what his father paid. If his father paid $3,000 for them, he has $3,000 income to report