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. **Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Learning Objectives
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
Major Topics
NFT basics Classification of NFTs Current Legislative and Policy Environment Tax implications of creation, sales and exchanges of NFTs
