Double Taxation on NFTs? If You Own NFTS, Watch This!

How are NFTs taxed: The taxes you pay on NFTs are mostly broken down into two categories, Investor or Creator.

But there is a catch: NFTs are (mostly) bought and sold with Cryptocurrency, like ETH. So, in IRS’s eyes, you have made two transactions, and are taxed for them. First, you must buy a cryptocurrency, and it is “sold” when you buy an NFT, whether you mint one, or buy from a secondary marketplace.

How much you pay in taxes is based on several factors. Watch for more info.

✅ Like us on Facebook! https://www.facebook.com/Stop-Being-S...

✅ Follow us on Twitter! https://twitter.com/stopbeingsold

✅ Check out our site for more tips https://stopbeingsold.com/