Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. Wolters Kluwer
  6. News
  7. Summary
    WKL   NL0000395903


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

MEDIA ALERT – As non-fungible tokens (NFTs) gain momentum, taxpayers should be aware of related tax obligations

12/02/2021 | 10:02am EST

Wolters Kluwer Tax & Accounting looks at the possible tax implications of creation of or investment in non-fungible tokens

Wolters Kluwer Tax & Accounting:

What: Non-fungible tokens (NFTs) are unique digitized assets stored on a digital ledger. The use of a digital ledger makes them somewhat similar to cryptocurrencies. However, cryptocurrencies are fungible and can be exchanged with each other, like a paper currency. NFTs are not readily exchanged with other NFTs. They can range from a digital baseball card to a digital work of art that sold for over $69 million. The Internal Revenue Service (IRS) has not yet specifically addressed the taxation of NFTs. Therefore, the tax issues should at present be addressed by analogy to the tax treatment of cryptocurrencies and intangible property.

Why: The creation and sale of NFTs has grown into a multimillion-dollar industry in just a couple of years. As more individuals and businesses get involved in creating NFTs and investing in NFTs, taxpayers will need to struggle to understand their tax treatment until specific guidance addressing NFTs is issued by the IRS. Some of the tax issues include the following:

  • Creators. Creation of an NFT would generally not be a taxable event. The sale of created NFTs likely results in the treatment of the sale proceeds as ordinary income, similar to tangible created works
  • Investors. Investors may be subject to capital gains on the sale or exchange of NFTs, with the short and long-term holding period requirements similar to other capital assets
  • Collectibles. Unlike cryptocurrencies, NFTs may be subject to the higher capital gains tax on collectibles
  • Losses. While an investor may be entitled to capital loss deductions on the sale of NFTs subject to the net capital loss deduction limitations, a holder of NFTs for personal enjoyment rather than investment may not be entitled to any capital loss deduction under the hobby loss rules
  • Businesses. An individual or entity engaged in the business of dealing with NFTs may have a greater ability to deduct net business losses against other income
  • Volatility. The significant swings in value of NFTs that have so far been experienced makes the potential for gains or losses even more unpredictable than for many other assets
  • Form 1040 Virtual Currency Question. An individual who has acquired, sold, or exchanged NFTs may have to respond “Yes” to the cryptocurrency question on Form 1040
  • Charitable donations. The tax deductions available for donations of NFTs to charity may be influenced by the charitable purposes of the recipient and the intangible character of the NFTs
  • Tax reporting. NFTs may be subject to the new tax reporting rules for cryptocurrencies under the Infrastructure Investment and Jobs Act

Who: Tax expert Mark Luscombe, JD, LL.M, CPA, Principal Federal Tax Analyst, for Wolters Kluwer Tax & Accounting, can help discuss the possible tax treatment of non-fungible tokens.

PLEASE NOTE: These materials are designed to provide accurate and authoritative information in regard to the subject matter covered. The information is provided with the understanding that Wolters Kluwer Tax & Accounting is not engaged in rendering tax advice or accounting, legal, tax or other professional service.

Contact: To arrange an interview with Mark Luscombe or other federal and state tax experts from Wolters Kluwer Tax & Accounting on this or any other tax-related topics, please contact Bart Lipinski.

ę Business Wire 2021
All news about WOLTERS KLUWER
01/21Informa set to launch $1.6 billion sale of Citeline unit -sources
01/21Wolters Kluwer Compliance Solutions and Floify Announce Collaboration for eNote Digital..
01/21With the 2022 tax filing season starting next week, taxpayers need to be aware of new c..
01/21Wolters Kluwer to Appoint New Supervisory Board Chair in April
01/21Wolters Kluwer appoints new Chair and new Vice-Chair of the Supervisory Board
01/21Wolters Kluwer Announces Changes in Supervisory Board
01/20MEDIA ALERT – With the 2022 tax filing season starting next week, taxpayers need ..
01/20WOLTERS KLUWER : N.V., - Share Buyback Transaction Details January 13 – 19, 2022
01/20Share Buyback Transaction Details January 13 – 19, 2022
01/19Wolters Kluwer ELM Solutions Podcast Offers Tips for Avoiding Legal Technology Roadmap ..
More news
Analyst Recommendations on WOLTERS KLUWER
More recommendations
Sales 2021 4 747 M 5 383 M 5 383 M
Net income 2021 727 M 824 M 824 M
Net Debt 2021 2 138 M 2 425 M 2 425 M
P/E ratio 2021 32,0x
Yield 2021 1,59%
Capitalization 23 400 M 26 540 M 26 536 M
EV / Sales 2021 5,38x
EV / Sales 2022 5,09x
Nbr of Employees 18 670
Free-Float 96,1%
Duration : Period :
Wolters Kluwer Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WOLTERS KLUWER
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Last Close Price 90,52 €
Average target price 91,78 €
Spread / Average Target 1,39%
EPS Revisions
Managers and Directors
Nancy McKinstry Chairman-Executive Board & Chief Executive Officer
Kevin B. Entricken Chief Financial Officer
Frans J. G. M. Cremers Chairman-Supervisory Board
Jeanette Horan Independent Member-Supervisory Board
Ann Elizabeth Ziegler Independent Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
WOLTERS KLUWER-12.63%26 540
S&P GLOBAL INC.-11.65%100 428
RELX PLC-5.75%59 207
MSCI INC.-18.26%41 291
EQUIFAX INC.-21.91%27 531