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Intuit CEO Warns of Tax Bill Shock for Bitcoin, NFT Traders

  • Americans are increasingly investing in speculative assets
  • The regulations around Bitcoin and NFTs remain murky
Sasan Goodarzi
Sasan GoodarziPhotographer: David Paul Morris/Bloomberg

Intuit Inc. Chief Executive Officer Sasan Goodarzi warned that Americans who invested in speculative assets like Bitcoin or nonfungible tokens, and actively traded equities on commission-free websites could be dumbfounded at this year’s tax bill. 

“We’re gonna see a lot of that throughout tax season, where folks just didn’t understand what they did. And there’s a lot of millennials that really did a lot of trading without knowing what the implications are,” Goodarzi said in an interview. “They are shocked as to how much money they’ve lost or how much they owe because they were in essence gambling with their money.”