Complimentary for Members

On-Demand Self-Study


Taxation of NFTs, The Hottest Digital Assets in 2022 Tech Session - 06/01/2024

NFTs exploded on to the digital asset scene in 2021 and remain hot products in 2022. There is no government guidance as to the taxation of NFTs so taxpayers and their advisors must look by analogy to the IRS's limited guidance on cryptocurrency and genera

On-Demand Self-Study

Learning Objectives

  • Upon completion of this course, you'll be able to:
  • Examine the tax implications of creating, purchasing, and selling NFTs from the perspectives of creators, dealers, investors, and collectors.
  • Discuss the applicable tax principles and reporting requirements associated with NFTs, including capital gains, ordinary income, and self-employment tax considerations.
  • Address participant-submitted questions and expand upon prior discussions to clarify complex scenarios and evolving guidance in NFT taxation.

Major Topics

  • Taxation of the creation, purchase and sale of NFTs
  • walk through the creation, sale and purchase of NFTs from the perspective of creators, dealers, investors, and collectors
  • address tax reporting requirements of NFTs. Andie will continue where she left off from the last session with a focus on the taxation and application of tax principles related to NFTs. She will address questions submitted in advance of the session.

CPE Credits Available

0
Taxation (NYSED) - NYSED

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Taxation (NYSED)

Prerequisites

None

Advanced Preparation

None

Intended Audience

Tax accountants and tax attorneys providing services to asset managers and high net worth individuals; professionals in the asset management industry with tax responsibilities

Provider

Foundation for Accounting Education

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