IRS issues guidance, seeks comments on nonfungible tokens

IRS issues guidance, seeks comments on nonfungible tokens

IR-2023-50, March 21, 2023

WASHINGTON — The Treasury Department and the Internal Revenue Service today announced that they are soliciting feedback for upcoming guidance regarding the tax treatment of a nonfungible token (NFT) as a collectible under the tax law. Today’s guidance also requests comments on the treatment of NFTs as collectibles and describes how the IRS intends to determine whether an NFT is a collectible until the further guidance is issued. Read More 

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