Hi,
How can I handle the following please?
Burning of NFT "Token A"
Receive 5 NFT's "Token B,C,D,E,F"
ie One NFT is being burnt to receive 5 very unique new NFT's.
Do I state "Token A" as a Withdrawal? And then all 5 new tokens as Deposits with value of "Token A" split evenly between all 5 new tokens? ie token A value divided by 5
If so what happens to it in accounting/tax?
Thanks
Mat