The Taxation of Cryptocurrencies and NFTs
About the class
Cryptocurrency and non-fungible tokens (NFTs) are today’s hottest digital assets. And they are increasingly the target of IRS scrutiny.
Watch this virtual event, led by Matthew Hutchens, Lecturer of Accountancy at Gies College of Business, as he discussed the tax implications of investing in the digital landscape. We will also be covering some key questions, such as: - what cryptocurrency and non-fungible tokens actually are, and how these assets are viewed in the eyes of the IRS.
This discussion also includes and covers some of the crucial topics like:
• Taxation on the purchase and sale of NFTs and crypto;
• The tax treatment of mining, hard forks, and airdrops;
• Creation of NFTs and impact of tax laws on those who develop digital content;
• Cryptocurrency and foreign asset reporting.
About the Presenter
Matthew Hutchens
Lecturer of Accountancy
Matthew Hutchens is a Lecturer of Accountancy at Gies College of Business. He joined the University of Illinois in 2017, after working as an attorney for the decade prior. His research specialties include federal taxation, multistate taxation, international taxation and practical problems in accounting. Hutchens earned his BS in Accounting and Finance in 2007 and his JD in 2014, both from Indiana University.