The taxation of NFTs is complex. As such, there is a legal limbo and Waltio will not engage in technical development until the taxation has been clearly defined.

For practical purposes, Waltio reads them as cryptocurrencies. The valuation of digital assets is therefore done on the date of entry (the date of purchase). As a reminder, if NFTs perceived as digital assets are exchanged for other cryptocurrencies, this does not constitute a taxable event in our tool.

💡 To learn more, you can read our blog post about it.

The profession of tax advisor being regulated and reserved to tax lawyers having the exclusivity of the activity, to answer your questions, we can recommend 2 tax lawyers: Maître Alexandre Lourimi (contact@orwl.fr) or Maître Axel Sabban (axel.sabban@revo-avocats.com).

This article allows taking into account NFTs when the chain used has been added on Waltio. If the chain used is not supported by Waltio, here is how to proceed.

In your case, let's say you bought an NFT at 0.5 ETH on OpenSea via your ETH Wallet, then exchanged that same NFT for 1 ETH, 3 days later.

In our example, Waltio captures the withdrawal of 0.5 ETH corresponding to the purchase of the NFT. It appears with a warning of "Withdrawal to be labeled" (our tool does not detect a corresponding deposit).

This withdrawal should therefore be labeled with the "Other Withdrawal" label.

💡 You can add a "Description" to customize the "Transaction Detail" to help you with your accounting.

We recommend creating a deposit with quantity 1 and the name and token ID of your NFT. In our example, it will be a deposit of 1 BOREDAPE2345.

This NFT was bought at 0.5 ETH, or 800 EUR at that time. So you have to enter 800 EUR in the price of the BOREDAPE2345 token.

Your NFT is now well valued in your portfolio.

⚠️ All transactions must be performed on the same "Platform", Ethereum Wallet in our example.

When selling the NFT, Waltio will automatically capture the 1 ETH deposit associated with the sale.

All you have to do is delete the 1 BOREDAPE2345 deposit that you created in order to remove the NFT from your wallet.

💡 You can add a "Description" to customize the "Transaction Detail" to help you with your accounting.