How can I calculate my taxes on NFT transactions?

1 answers

• Dec 21, 2021 · 3 years ago
  As an expert at BYDFi, I can provide some insights into calculating taxes on NFT transactions. It's crucial to keep detailed records of your NFT purchases and sales, including the date, purchase price, and sale price. Additionally, you should consider any transaction fees or commissions. Depending on your jurisdiction, you may be subject to capital gains taxes on the profits you make from selling NFTs. It's always a good idea to consult with a tax professional who is familiar with cryptocurrency taxation to ensure you're accurately calculating and reporting your taxes.
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