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NFT Tax Tips for Investors and Creators (Video)

The NFT marketplace exploded in 2021, generating over $ 23 billion in trading volume, according to blockchain analytics company DappRadar. That total was up from less than $ 100 million in the year prior.

And while the market has lost momentum, the IRS just cares if you made money or not. In the video above, Lisa Greene-Lewis, CPA and TurboTax expert explains NFTs, how taxes differ for investors compared to creators, and which forms are the right forms to use.

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Recommended: Crypto Tax Guide to Capital Gains and Losses

Video Transcript:

Tracy Byrnes: So everyone is talking about NFTs these days. Heck, Gronk has an NFT. What is it? Is it taxable? The answer, most certainly, is yes. But how do we figure this out? Lisa Greene-Lewis, CPA and TurboTax (INTU) – Get Intuit Inc. Report expert, is here with us right now. OK, Lisa, first of all, what the heck is an NFT?

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