JulieS
Expert Alumni

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. 

 

Click here to learn more.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post