With the growing interest in non-fungible tokens (NFTs), it becomes important for investors to understand all the tax implications linked to these digital assets. One method that can help crypto investors to minimize their tax liabilities is NFT tax-loss harvesting. Here, we will dive into the concept of tax-loss harvesting, its application in the NFTs… Continue reading NFT Tax-Loss Harvesting: A Strategy To Maximize Your Profits
Tag: Internal Revenue Service (IRS)
IRS Explains What NFT Taxation Entails
With the surging popularity of NFTs, it was just a matter of time before regulatory bodies and governments would take notice and swoop in with NFT taxation policies. The Internal Revenue Service (IRS) in the United States recently issued clear guidelines on how NFTs should be taxed. The regulator insisted that it recognizes their significance… Continue reading IRS Explains What NFT Taxation Entails
IRS Invokes Public Opinion On NFT Tax
The United States Internal Revenue Service (IRS) has confirmed its intention to tax nonfungible tokens (NFTs) at a higher rate than already set in place. Nevertheless, the agency has also declared its interest in seeking public opinion on the implementation of the new tax rules and regulations. Are NFTs Collectibles? The IRS appears to be… Continue reading IRS Invokes Public Opinion On NFT Tax