Investopedia quoted Counsel Nicholas Mowbray in a March 23, 2023, article titled “What if NFTs Are Taxed as Collectibles?”
Mowbray told Investopedia that additional guidance from the IRS that includes “factors on when the associated right or asset resembles a collectible will be well received. There are a number of areas where taxpayers desperately need guidance and this is one of them,” he said.
Read the article.