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Get your taxes done using TurboTax
Yes, your cost basis will be the gas fees and the auction fees.
Costs paid for hardware and software can be included in basis, if they were only used for the creation of the NFT that you sold.
If you have costs for hardware and software that can be used to create more than one NFT, you may want to fill out a self employment schedule to deduct your other business costs.
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March 9, 2022
5:17 PM