Last week, the IRS published a document requesting comment and proposing new guidance on the tax treatment of NFTs in the U.S. megdematteo spoke to tax experts to understand the implications:
, this could be a clear identifier of long-term collector value. In contrast, NFTs that simply represent digital assets, such as metaverse land, more closely resemble the IRS’ definition of normal capital assets and would be taxed accordingly.Normal capital assets are taxed at a rate ranging from 0% to 20% based on a person’s income level, whereas collectible assets are taxed at a 28% rate.
“I see this [notice] as a good thing because it gives way more legitimacy to NFTs as a whole,” Macari said.If you have thoughts on the matter, you can submit comments in writing on or before June 19, 2023. Make sure you should include a reference to Notice 2023-27. The easiest way to have your comment considered is electronically via the Federal eRulemaking Portal at
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