The Tax Implications of Buying and Selling NFTs

September 10, 2021
Creator Crumbs

"NFT transactions are subject to taxes. Given the massive run-up in prices of some NFTs, your tax burden can be quite substantial, so it is important to plan ahead"

2021 has been the year of crypto and NFTs.

But how are they taxed?

This awesome thread from Amy Madison breaks down some things to watch out for and keep in mind:

Disclaimer: This is not tax, legal, or investment advice. Please consult a tax professional before implementing any mentioned strategies.

"NFT transactions are subject to taxes. Given the massive run-up in prices of some NFTs, your tax burden can be quite substantial, so it is important to plan ahead"

2021 has been the year of crypto and NFTs.

But how are they taxed?

This awesome thread from Amy Madison breaks down some things to watch out for and keep in mind:

Disclaimer: This is not tax, legal, or investment advice. Please consult a tax professional before implementing any mentioned strategies.

Treyton DeVore

Treyton is a creative entrepreneur, writer, and financial planner.

He's been featured in Morning Brew, NerdWallet, Marketwatch, and more.

treytondevore.com

Related Posts