There are some sex scenes and some very sexual dialogue.

One early in the movie includes two women. One of them is clearly topless and the other one is not very visible. The topless woman is very... loud... and during this, a man in the room watches and masturbates to them. In the same scene, one of the women is seen about to whip the man who is almost completely naked (no clear nudity ... or none that I know of)

There is a scene in which people are watching short clips of people. One clip includes a topless woman.

In one scene, they are about to film a scene that includes a nude man (who is only seen nude from behind)

One quick fast-forwarded sex scene in the end (no nudity)

Near the very end, Valerie is seen naked (non-sexual) being showered

Candy Darling is scene covering his/her ... area with his/her hands... fully nude but no genitals are seen.

Some scenes with shouting.

Valerie shoots Andy Warhol.

Swearing is almost constant. Multiple uses of the f word, including MF. Also one use of the c word. Other constant expletives such as sh*t, p*ss, etc.

Smoking and drinking.

The TV show scene has a man speaking strongly against homosexuality. Some may be offended, but then again, it is only a movie.

The shooting scene might be a little intense, but it is not as bad as you might think it would be.

but it is still very R-rated