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"classifying NFTs as collectibles could impact how they’re taxed when swapped or sold on secondary markets. Depending on a person’s income, short-term capital gains tax—which NFTs are subject to—ranges from 10% to 37%. But capital gains on collectibles is capped at 28%." ... fyi
these rate hikes by fed will drive the banking system into the ground
What are the pros and cons of regulating/classifying NFTs as collectibles?
oh ... that will take you down the capital gains tax hole. and irs don't go easy on that, and it is huge. think profits wiped off to the tax treasury
"classifying NFTs as collectibles could impact how they’re taxed when swapped or sold on secondary markets. Depending on a person’s income, short-term capital gains tax—which NFTs are subject to—ranges from 10% to 37%. But capital gains on collectibles is capped at 28%." ... fyi
This helps, thank you
fed is running the whole system round and round. only if so much liquidity was not pumped in ... it all seems like a game of power now