IRS 2022 Tax Guidelines to Treat NFTs as Stablecoins, Cryptocurrencies

[Google News Bot]

The U.S. Internal Revenue Service (IRS) has given NFT investors new clarity about how the assets are set to be taxed. As per the IRS’ 2022 tax year guide, all “digital assets,” including stablecoins, non-fungible tokens (NFTs), and cryptocurrencies are set to be taxed under the same rules. This is a departure from the 2021 guide which used the more limited term “virtual currencies,” and solely defined the rules governing cryptocurrencies and stablecoins. Taxpayers who have “disposed of any digital asset in 2022” through a sale, exchange, gift, or transfer will now have to ...

Continue reading the above news article, by clicking here.

Administration and Moderation NOTE: A Reminder, the above news is provided for free, through a RSS Feed. The above quote does NOT include the full story. In order to continue to read more past what is quoted, please click through to the article, by clicking on the link provided above through the "continue reading" text.

Please be sensible and follow our terms of service and rules, when replying and debating the news article.