Charitable Giving with NFTs: Tax, Legal and Processing Considerations

You knew this was coming! NFTs or non-fungible tokens are the newest “asset” to pop up in the world of charitable gifting. Last month, the top 100 NFT sales amounted to $2.3 Billion (yes… BILLION!). Essentially, NFTs are a low-overhead endeavor because they are created, viewed, traded and owned online. But because NFTs are still so closely tied to cryptocurrency (primarily Ether, although that is changing), and not a fiat currency, they are still not part of any mainstream transaction or payment methods.

This webinar will cover the basics of NFTs including:

What are NFTs?
What is the characterization of the asset (e.g., property, currency, collectible)?
How are NFTs likely taxed and how would this affect the charitable deduction?
If you are the creator versus a collector, what is the treatment of asset?
Are there physical assets or other benefits to ownership and how does that change the classification of the asset?
Is a qualified appraisal required, and if so, how is the value determined?
How can NFTs be held or liquidated by a charity?