Saim Akif

CPA, CFA, CAMS, Realtor

Cryptocurrency and Virtual Currency Accounting
Real Estate and Construction Accounting

Saim Akif, CPA, CFA, CAMS, Realtor

How are NFTs taxed?

Hey Saim, are NFTs taxed similar to how crypto is taxed?

NFTs are unlike other crypto since they could be considered as antiques in the eyes of the IRS. Do not mix your other crypto with NFTs. They are to be taxed differently. Most tax experts consider NFTs taxed as ordinary income, but it can involve capital gains, but it does depend.

Speak with a cryptocurrency CPA on how to best mitigate NFT tax mistakes.

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