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383: NFTs: How are they taxed?

Main Street Business

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Collectable Taxes

You have short term and long term capital gains in this senaria. But for collectable items, if touren, if t is a collectable, i believe the max rate is 28%. That's worse than just selling etherium or bit coin or something for profit. Then you're going to pay state tax based on the residency you live in. You cal have federal at 28, state as high as 13. Third, there could be a c a, or this affordable cares act adon for investment income tax. And that's sometimes there's moremore, and that can be called a bombacare sometimes. So you'regoing to have this additional tax come in when you sell

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