Tag: NFT royalty tax reporting requirements
2024 US NFT Tax Compliance Guide: IRS Rules for Airdrop Reporting, Mint Deductions, Royalty Requirements & Capital Gains Rates
Per 2024 IRS guidance, CoinLedger 2024 Study, and 2024 Crypto Tax Professionals Association data, 56% of unreported NFT gains trigger IRS audits, with average penalties hitting $1,420 for misclassified collectible NFTs. This 2024 US NFT Tax Compliance buying guide breaks down official rules for airdrop reporting, mint deductions, royalty requirements, and capital gains rates, with