NFTs, or non-fungible tokens, captured the investing world’s fancy over the past few years, as high-profile sales of digital art and other digital collectibles such as CryptoPunks soared in popularity ...

The Internal Revenue Service released Notice 2023-27 (the “Notice”), providing guidance on the federal tax treatment of nonfungible tokens (“NFTs”). In a prior SKRYPTO blogpost, we noted that ...

The taxation of non-fungible tokens (NFTs) is still something of a mystery. All we have to go on is the IRS definition of digital assets and Notice 2023-27. The IRS digital asset definition includes ...

Last year, 2021, was the year non-fungible tokens (NFT) became mainstream as trading volume skyrocketed to $24.9 billion, up from just $94.9 million in 2020. Hundreds of thousands of crypto ...

Patrick Camuso, leader of digital asset specialist firm Camuso CPAs, said that the stage is being set for a major drive to draw nonfungible tokens into state-level sales and use tax regimes, which he ...

Financial advisors advocate for a diverse portfolio, but few could have foreseen the level of variety that many people would embark on in 2021. Investment in NFTs and cryptocurrencies soared nearly as ...

Forbes contributors publish independent expert analyses and insights. Shehan Chandrasekera is the leading expert on cryptocurrency taxes. Under the guidance, NFT retailers (Individuals who sell NFTs ...

Ever since the NFT boom began last year, non-fungible tokens—the blockchain-linked digital files that can contain, well, anything—have escaped easy definition. After an artist working under the name ...

Bollywood megastar Amitabh Bachchan has paid more than $130,700 in taxes for auctioning his non-fungible tokens (NFT) after receiving a notice from the tax authorities, according to Indian media. The ...