OpenSea and CoinTracker partner to streamline NFT taxation


  • OpenSea is collaborating with CoinTracker.
  • People are easily prepared for the NFT Tax with this collaboration.
  • On CoinTracker’s premium tax packages, they could get an additional 10% off.

Since NFTs became widely used in 2021, many people are navigating NFT-related taxes for the first time this year. Making it simple and enjoyable to generate, acquire, and exchange NFTs is one of OpenSea’s main goals as the top peer-to-peer NFT marketplace in the world. This will encourage more people to join the movement.

CoinTracker is currently assisting the OpenSea community with absolute NFT ownership in collaboration with leading cryptocurrency tax specialists CoinTracker. Now, OpenSea users have access to CoinTracker’s end-to-end NFT tax preparation solution.

Users on OpenSea may now directly contact CoinTracker for their NFT tax preparation requirements. They may sign up for CoinTracker’s NFT tax services with an exclusive offer of free tax reports for up to 50 transactions. Furthermore, they may receive a further 10% discount on CoinTracker’s premium tax packages.

Taxable events include buying, selling, and receiving royalties on NFTs. If NFT collectors make money from these endeavors, capital gains taxes are due. Users must keep track of cost basis (how much you spent on each NFT), sales price, and adequately account for gas costs and transfers to compute NFT taxes accurately. Without a program like CoinTracker, doing this accurately manually is practically impossible.

The world’s top peer-to-peer NFT marketplace, OpenSea, offers unrivaled selection and multi-chain possibilities for producers and collectors of all types. It makes producing, buying, and selling NFTs easy and friendly. CoinTracker debuted the first full-suite NFT tax product in October 2021. Together, they are making it easier, safer, and more confident for NFT aficionados to comprehend and complete their NFT taxes.

If you’ve ever used OpenSea, visit the OpenSea tax resources page to learn more and get CoinTracker started. To calculate your NFT and cryptocurrency taxes, you must enter your wallets and exchanges into CoinTracker.