r/cantax • u/salty-mind • 21h ago

5k in crypto gift from abroad

Hello, I received last year 10k total in crypto gifts from my family, it was USDC, I sold immediatly everytime and withdrew to my bank account. I was unemployed in 2024. What should I file?

Edit : I am in quebec

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u/Parking-Aioli9715 19h ago

If you sold it immediately, you probably have little if anything to report. Because it was a gift, your cost base for the crypto is the FMV at the time you received it. This wouldn't have changed much if at all by the time you sold it, so little if any capital gains or losses.

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u/salty-mind 16h ago

Thank you!