NFT Tax Guide: How are NFT airdrops taxed?

CPA Anil Melwani answers the question, "How are NFT airdrops taxed?" An NFT airdrop is when it is basically given away for free through a giveaway or whatever circumstance. Since there is no exchanging of dollars or crypto, it will be taxed as ordinary income on the tax return. Once you receive the free NFT, do some research on its value and report that so you aren't charged a felony.

[@austinespinoza]

do you just make up a number if you have the only version of the NFT????????