A viewer asked: If I move my assets into the LLC, is there tax implication? This recording is Jake Claver's answer, in full and unedited.
Also coveredqualified joint venture, disregarded entity, capital contribution, operating agreement, cost basis
Looking for the full answer to “is moving crypto into an LLC taxable”? It is written up here: Moving Crypto from Personal Name to an Existing LLC.
What this recording covers
Claver addresses whether transferring digital assets into a limited liability company creates tax implications for the owner. He explains that potential tax consequences depend on entity structure and state laws. In fifteen states recognized for qualified joint ventures, married couples can form a partnership and contribute assets without triggering tax events. In remaining states, Claver notes that one spouse typically establishes a single-member entity classified as a disregarded entity, contributing digital assets as initial capital. Proper execution requires recording contribution details in the operating agreement, typically within schedule three. This documentation specifies the contributing wallet address, the asset name, the total quantity of tokens, and the original cost basis at the time of purchase. Recording the historical cost basis rather than fluctuating market figures establishes the formal capital accounting for the entity without generating immediate taxable realization upon transfer.
Where this fits
This page hosts a recorded video and a short summary of what it covers. It is general information, not investment, tax, or legal advice, and not a recommendation to buy or sell any asset or to form any entity. Rules change and older recordings may describe a position that has since moved. Speak to a qualified professional before acting.