Taxation of Non-fungible Tokens (NFTs)

Overview

Description:
Non-fungible Tokens (NFTs), unique, identifiable digital assets based on blockchain technologies, have become a fast-growing industry. This course will provide a background on how NFTs came into the mainstream marketplace.  These materials will assist the practitioner to understand the tax implications of the creation, purchase and sale of these assets.  

Learning Objective:
After attending this presentation you will be abe to . . .

• Be able to define NFTs and describe how they are created.
• Develop a working knowledge of how NFTs are recorded and transferred.
• Determine what type of transaction involving an NFT creates a taxable event.
• Be able to identify how NFTs are classified.
• Discuss the current legislative environment and actions taken to regulate NFTs
• Become knowledgeable of current enforcement actions employed by the IRS

Program Content:

NFT basics
Classification of NFTs
Current Legislative and Policy Environment
Tax implications of creation, sales and exchanges of NFTs

Who Should Attend:

This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs

Developed By:

Allison M. McLeod, LL.M., CPA. A PLLC

Instructor:

Allison McLeod

Highlights

Prerequisites

None

Designed For

Objectives

Preparation

None