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NFT sale tax implications — am I screwed?

Started by midnight_thoughts_29 · Jun 9, 2025 · 2,515 views · 4 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
MT
midnight_thoughts_29 OP

Quick background on my situation — any input appreciated.

NFT sale tax implications. I've been dealing with this for about 4 weeks now and the situation isn't improving.

I have already consulted briefly with a lawyer but got conflicting advice.

Do I have a strong case? What should my next steps be?

CL
commuter_life_21

You could try handling it yourself but honestly a lawyer speeds things up 10x.

SO
sustained_overruled

I've dealt with this before.

I ended up having everything documented, which cost about $3-6 but saved me a lot more in the long run.

RW
remote_work_life_23

Following this thread — Subscribing to this thread. In a similar spot.

UF
uma_fcra_10

For crypto tax purposes: staking rewards are taxed as ordinary income when received, and then capital gains when sold. The IRS has been clear on this. The taxable event is when tokens hit your wallet, not when you sell.