For information on the tax treatment of NFT, please refer to the National Tax Agency's site (Japanese only).
By using this method of uploading NFT trades, they are treated in the same way as other cryptocurrency trades and the pnl is calculated as miscellaneous income. To download the custom file format, please refer to here.
【NEWS】Started Support for OpenSea for NFT Transactions in DeFi Functionality (as of August 18, 2023)
- In cases where multiple NFTs are purchased in a single transaction, as the information regarding the prices of each NFT is not available, it will be necessary for you to manually input the missing details after integrating with the DeFi functionality. Following the integration with the DeFi feature, please use the convert function to input the prices of each NFT by yourself for the respective transaction.
- Regarding the history of NFT exchange, there are no clear rules for calculating profit and losses, so automatic support is not provided.
【Others】
- Curently Uniswap V3, order book based decentralized exchanges like dYdX, and NFT related transactions are not fully supported. Please select "Fee Only" as a transaction type to exclude the transaction and then add transactions by custom file manually.
- Also, as of 16th Mar 2023, we have temporarily suspended support for ERC1155 at Avalanche.
■How to upload NFT trades
With the following method, the pnl for the NFT trades themselves, and the pnl for the cryptocurrency used to trade the NFT can be calculated.
For uploading NFT trades, please use custom coins. For details on custom coins, please refer to here. The below example shows how to create custom files for buying and selling NFT called "ABC".
※For DeFi transaction, please use DeFi token.
[Buying NFT]
Example: Bought an NFT called "ABC" and paid 0.5ETH. As a fee, paid 0.01ETH.
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction date/time | BUY | Optional | USER-ABC | 1 |
0.5 |
ETH | 0.01 | ETH |
Example: Bought an NFT called "ABC" and paid 30USD by credit card. As a fee, paid 5USD.
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
| Transaction date/time | BUY | Optional | USER-ABC | 1 |
30 |
USD | 5 | USD |
[Selling NFT]
Example: Sold an NFT called "ABC" and received 0.6ETH. As a fee, paid 0.01ETH.
| Timestamp | Action | Source | Base | Volume | Price | Counter | Fee | FeeCcy |
|---|---|---|---|---|---|---|---|---|
|
Transaction date/time |
SELL | Optional | USER-ABC | 1 |
0.6 |
ETH | 0.01 | ETH |
Please note that if the asset is attributable to income from the transfer of assets, you need to classify the pnl accordingly. Please consult with your local tax office on the classification of the pnl from your NFT. The above classifies the pnl as miscellaneous income.
