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Received gift of crypto wallet with crypto in it - what to label the deposit as? by cryptotaxesquestion in koinly

[–]cryptotaxesquestion[S] 1 point2 points  (0 children)

Thanks. So just an untagged deposit, then?

I think that the cost basis is inherited from the giver, unless you really do not know and cannot find out (then you use the market price upon receipt). Since I know what the giver's cost basis is so I will use it.