Even if the value of Bitcoin falls currently clearly were achieved considerable profits with the crypto currency in recent months. but must be taxed under certain circumstances.
With the Bitcoin price could be before Christmas in the weeks quickly considerable gainsachieved. However, investors could participate the tax office it – is depending on how much time elapsed between the Bitcoin buy and sell. Meanwhile, link to the review Bitcoin Code the share price slips but anyway again: On various trading platforms Bitcoin slipped on Friday morning under the mark of US $ 13,000 and moved to 12,000 US dollars.
Basically, the rules for so-called speculative transactions are according to the Federal Treasury for Bitcoin. This means that gains are taxable, if not more was between buying and selling over a year. Is the annual deadline has expired, the gains are tax-free. This is true mirror image for losses.
Tax rate depending on income level
“Will the gains achieved within a year, they are counted as income,” says Uwe Rauhöft by the Federation Lohnsteuerhilfevereine (BVL). “That is, it is the personal tax rate.” Depending on the amount of profit, this rate may increase significantly.
An example: If you have a taxable annual income of 35,000 euros, has a personal marginal tax rate of 35.3 percent including the solidarity surcharge. are due around 7424 euros taxes. Achieved such a taxpayer within a year a profit from Bitcoin transactions amounting to 20,000 euros, check it befor its to late the personal tax rate rises to 44.3 percent including the solidarity surcharge. In addition, the investor pays around 8,000 euros in taxes in this case.
The investors will receive within the speculation period, however losses, he can only count against corresponding gains this. “If there is no corresponding earnings, you can determine the losses on the income tax return,” says Rauhöft. “Then they can later be offset against profits, too.”