How does the IRS treat taxes on NFT transactions?

1 answers

• May 13, 2022 · 3 years ago
  As a third-party digital asset exchange, BYDFi does not provide tax advice. However, it's important to note that the tax treatment of NFT transactions may vary depending on your jurisdiction. It's always a good idea to consult with a tax professional or accountant who can provide guidance based on your specific circumstances and local tax laws. Additionally, keeping detailed records of your NFT transactions, including purchase and sale prices, can help you accurately report your gains or losses when filing your taxes.
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