NFT Module

Let us help you manage your NFT portfolio and taxes

Remove the hassle of calculating taxes on different crypto assets. Get complete NFT module and easily manage taxes.

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All your NFTs and trades in one place—supports multiple blockchains
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Auto-sync NFTs from your wallets and keep your portfolio up-to-date.
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Calculate taxable NFT capital gains or losses in no time.
Calculate NFT tax
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Explore the features

Accurate NFT reports

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Easy NFT Portfolio tracking, analytics, and tax reporting with Kryptos. Completely secure and reliable.

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Categorize your NFT income and see how the different elements add up to your profit or loss.
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Get access to detailed NFT transaction reports.
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Generate accurate tax reports that comply with your local laws.
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Frequently asked questions

What does Kryptos NFT Module include?

Kryptos NFT module gives you access to full NFT dashboard (Inventory, Listings, Sold, Bought, Transactions) and NFT reports as well. With NFT module you could get a complete overview of your NFT portfolio. More blockchains and integrations are being added regularly.

Are NFTs taxable?

Yes, NFTs (Non-Fungible Tokens) are generally subject to tax. Most tax authorities consider them as crypto assets, and the tax treatment varies depending on factors such as the country's regulations and the nature of the transaction. For example, in the United States, NFTs may be taxed as collectibles, subject to a specific tax rate of 28% for gains.

Are NFT losses tax deductible?

Yes, NFT losses may be tax-deductible in some jurisdictions. However, the rules surrounding the deductibility of NFT losses can vary, and it's advisable to consult with a tax professional or accountant for specific guidance in your area. In Canada, for instance, NFT losses may be deductible depending on how they are acquired and used, with the Canada Revenue Agency (CRA) deciding on a case-by-case basis.

Is buying NFTs with crypto taxable?

Yes, buying NFTs with cryptocurrencies like ETH or BTC can be taxable. In many cases, trading or spending crypto is considered a taxable event, even if it's used to purchase another digital asset like an NFT. For example, in the United Kingdom, buying NFTs with cryptocurrency may incur Capital Gains Tax.

How are NFTs taxed?

NFTs are taxed similarly to cryptocurrencies, varying depending on factors such as the country's regulations and the specific nature of the transaction. In most cases, tax authorities classify NFTs as crypto assets and apply the same tax rules as cryptocurrencies. However, there are exceptions. For example, in the United States, the IRS treats NFTs as collectibles, subjecting them to specific tax rates and regulations.

Can you claim capital loss on NFT?

In some jurisdictions, you may be able to claim capital losses on NFTs. However, the eligibility for claiming capital losses and the specific rules governing such deductions vary by country and may depend on factors such as your tax status and the nature of the loss. For instance, in Australia, capital losses on NFTs can be offset against capital gains.

Can an NFT be a business expense?

In certain circumstances, NFTs may be considered a business expense if they are acquired and used for business purposes. However, the deductibility of NFTs as a business expense depends on factors such as the nature of your business and how the NFT is utilized within your operations. In the United States, NFTs used for business purposes may be deductible as a business expense, subject to specific IRS regulations.

Is an NFT a capital asset?

Yes, an NFT is typically considered a capital asset. Capital assets are assets held for investment purposes, and they are subject to capital gains tax when sold for a profit. In the United Kingdom, NFTs are generally treated as capital assets subject to Capital Gains Tax upon disposal.

What type of asset is an NFT?

An NFT is classified as a digital asset, specifically a non-fungible token. NFTs represent ownership or proof of authenticity of unique digital items, such as digital art, collectibles, or virtual real estate. In Australia, NFTs are treated similarly to cryptocurrencies for tax purposes, following the same tax treatment as cryptocurrencies.

Does capital gains tax apply to NFTs?

Yes, capital gains tax typically applies to NFTs when they are sold for a profit. The rate and treatment of capital gains tax on NFTs may vary depending on the country's tax laws and regulations. For example, in Canada, capital gains tax may apply to NFTs sold for a profit, with the tax rate depending on factors such as the individual's tax status and the duration of ownership.

Do I have to pay taxes on NFT sales?

Yes, you may be required to pay taxes on NFT sales. The tax implications of NFT sales depend on factors such as your country of residence, the duration of time you held the NFT, and whether you're classified as an individual or a business entity. In the United States, for instance, taxes on NFT sales are subject to IRS regulations, with specific guidance on the tax treatment of NFTs as collectibles.