Frequently asked questions

No. You do not need to connect a wallet to figure out your NFT losses. Rekt Writeoff reads public on-chain data from an address you paste — it is fully read-only, so you never connect a wallet or sign a transaction. (To actually realize a loss for taxes you still dispose of the NFT, but that is a separate step your CPA guides, not something we make you sign here.)

Your cost basis is what you paid to acquire an NFT — the mint or purchase price plus the gas fees — converted to USD on the date of the transaction. Rekt Writeoff reconstructs this automatically from your on-chain history across every wallet you scan, so you don't have to dig through years of transactions by hand.

Often, yes — but not automatically. A crashed NFT isn't a deduction until you realize the loss (dispose of it) and can document that the market is genuinely dead. Rekt Writeoff builds that worthlessness evidence — no active market, no recent sales, floor effectively zero — so your CPA can support the claim under IRC §165.

Capital losses first offset your capital gains dollar-for-dollar with no cap. If your losses exceed your gains, you can generally deduct up to $3,000 against ordinary income per year and carry the rest forward to future years. Your specific limit depends on your full return — confirm with your CPA.

Paste your wallet address for a free 30-second scan. It shows how much of your wallet sits in collections with a dead market. The paid report then reconstructs exact cost basis, strips out spam airdrops, and gives you a CPA-ready export — no spreadsheets, no wallet connection.

Yes, it's safe. We are 100% read-only. We never ask for your private keys or seed phrase, never connect a spending wallet, and never move or touch your assets. You just give us a public wallet address — the same information anyone can see on a block explorer. Anyone who asks for your keys or seed phrase is a scammer, and it isn't us.

Your email (to sign you in and deliver reports), the public wallet addresses you choose to scan, and payment confirmation from Stripe — we never see or store your card number. We do not sell your data.

It scans your NFT wallets, reconstructs what you paid (cost basis) from your on-chain history, checks whether each collection still has a real market, and builds a report of your potential tax losses — including evidence for collections that may qualify as worthless. You hand the report to your CPA.

Ethereum, Polygon, Base, Arbitrum, Optimism, Avalanche, Blast, BNB Chain, Cronos, Ronin, Solana, WAX, and Tezos.

We reconstruct it from your on-chain history — mint costs, purchase prices, and gas — converted to USD at the historical date of each transaction. Where we can't determine a value, we flag it for manual review instead of guessing.

For NFTs that may be deductible as worthless under IRC §165, we assemble the supporting evidence your CPA needs — no active market, no recent sales, floor effectively zero — rather than just a price. It's a starting point for the conversation with your tax professional, not a legal conclusion or a guarantee any deduction will be accepted.

Values are estimates from public on-chain and marketplace data, which can be incomplete or delayed. We're deliberately conservative — where a value is uncertain we flag it for review rather than fabricate a number. Always confirm figures with your CPA before filing.

The free scan previews your loss exposure and how many NFTs you hold (first 500). The paid report scans every NFT, reconstructs exact cost basis, builds the worthlessness evidence, and gives you a CPA-ready Excel + CSV export.

A few seconds for the free scan. A full paid scan takes a few minutes depending on how many NFTs you hold; very large wallets with thousands of NFTs take longer. Keep the page open while it runs.

Yes. Buy the plan matching your wallet count (1, 3, or 10) and add your wallets in your account. You can also keep separate named portfolios.

One-time pricing per tax year: $29 for 1 wallet, $59 for 3 wallets, $99 for 10 wallets. It is not a subscription.

Yes. If the service doesn't work as described, contact us within 7 days of purchase and we'll make it right. Because reports are digital and generated on demand, refunds outside that window are limited — see our Refund Policy.

Many people can offset capital gains (and, within limits, some ordinary income) with capital losses, and NFTs that have become genuinely worthless may be deductible — but it depends on your specific situation. Rekt Writeoff gives you the numbers and evidence; your CPA makes the determination.

No. Rekt Writeoff is a software tool that produces estimates from public data. It is not tax, legal, or financial advice and is not a substitute for a professional. Always review results with a qualified CPA or tax attorney before acting or filing.

It's the U.S. tax-code section covering deductions for losses, including property that becomes worthless. Whether a specific NFT qualifies is a fact-specific determination for your tax professional.