IRS 2022 Tax Guidelines to Treat NFTs as Stablecoins, Cryptocurrencies
Oct 19, 2022
New tax guidelines from the IRS mean that NFT holdings fall under the same tax regime as cryptocurrencies and stablecoins.
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.