Altcoins News

Story: Buying an NFT with Ethereum (ETH) Triggers Taxable Event in the US

By James Thorp

1 / 7

You sell your ADA first is what he's saying. Doesn't matter which currency.

2 / 7

Cryptocurrency getting taxed as a property is the governments dream come true!

3 / 7

Ever heard of HIFO? You are not a tax expert so stop with the novice advice.

4 / 7

Imagine a kid playing a game with NFT's in them, and he defeats a boss and…

5 / 7

As long as they only tax him if he sells it, then it kind of makes sense.

6 / 7

This is wrong. 2019 IRS guidance states you can use LIFO.

7 / 7

I used the crypto tax trader app to calculate the gains, they counted staking…

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