How do I report the sale of an NFT (non-fungible token) that is an investment?
Menu Path: Income > Common Income > Investments and Savings (1099-INT/DIV/B/DA)
You can enter the sale of an NFT that qualifies as an investment on the Your Investment and Savings Accounts screen.
An NFT (non-fungible token) is a digital asset that represents a real-world object, such as art, music, in-game items, or videos. An NFT cannot be exchanged for another NFT, as each one holds a unique value. NFTs exist on a blockchain, which records all related transactions and allows content creators to sell their work and receive royalties.
NFTs can be bought and sold like other investments. They are typically bought and sold using cryptocurrency.
How do I enter my NFT (non-fungible token) sale if it's a collectible?
If you have not sold an NFT and are simply holding it, you do not need to enter it on your return.
You can enter the sale of an NFT that qualifies as an investment on the Your Investment and Savings Accounts screen.
An NFT (non-fungible token) is a digital asset that represents a real-world object, such as art, music, in-game items, or videos. An NFT cannot be exchanged for another NFT, as each one holds a unique value. NFTs exist on a blockchain, which records all related transactions and allows content creators to sell their work and receive royalties.
NFTs can be bought and sold like other investments. They are typically bought and sold using cryptocurrency.
How do I enter my NFT (non-fungible token) sale if it's a collectible?
If you have not sold an NFT and are simply holding it, you do not need to enter it on your return.
