4 ms·

Just in time for the tax deadline.

• hn_throwaway_99 5y ago
  That's not how taxes in the US work. If he sold it now he'd only be able to take the loss on his 2022 taxes, and even then he better hope he has a lot of gains or else he'll need to carryover the loss.
  • mywittyname 5y ago
    More importantly: losing actual money to save on taxes is hugely inefficient. If he was doing this to save on taxes, he would have taken a paper loss via depreciation -- meaning, not actually selling it, just changing the book value of it -- with the intent of paying capital gains tax at some future date (well, more likely, borrowing against its "true" value indefinitely).
    • ok123456 5y ago
      But it's not actual money? The NFTs space seems to just be an extension of the old art appraisal scam: the asset can have whatever value happens to be convenient at a given time.
  • onlyrealcuzzo 5y ago
    You're obviously unfamiliar with corporate loss carry back. Anyone buying an NFT for $2.9M is almost certainly doing so as a business.