Unfortunately, the answer is not favourable to what you are hoping for. 

Keep in mind that the timing of the tax event is when you dispose of any asset or currency. Regardless of what you purchase next, you’ve still made a gain at the time of selling. 

“Is buying an NFT disposing your Ethereum?”

Disposing your Ethereum is a taxing point. And buying an NFT is your cost base of that NFT or your purchase price. So, we need to look at that separately.

Watch the full webinar, ‘Cryptocurrency Tax Masterclass’ at https://fb.watch/acHFQ4OHBc/

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