1Sem.·

Tax-free after 1-year holding period

Hey, I've been holding $VBTC (-3,21 %)as I only benefit from the BTC performance, but the work with a new crypto exchange etc. was too time-consuming for me at the time.

I had already come to terms with the fact that I would have to pay tax on the profits for a while. However, I had also read the opposite in some cases, namely when the ETC/ETN actually holds BTC and you can theoretically have them delivered to you.

I made a small partial sale yesterday as a test and lo and behold, only the costs of the sale were deducted and no taxes were withheld.

In future, I will be using Bitavo and Strike to save costs.

For all those who want to share my joy or still have old stocks themselves.

4 Commentaires

René@theGREENgeck0

1Sem.

When selling cryptos including ETNs, brokers generally do not withhold tax, regardless of how long you have held them. You must keep a record of purchases, sales, holding periods and profits yourself and include them in your income tax return. Only then will you be taxed.

•

byebyebayern@Langweiler

1Sem.

@theGREENgeck0 Hey, thanks for your feedback. Sources for this are very different. Here's one that suits me and would save me work 😉

https://www.frag-einen-anwalt.de/Besteuerung-von-Krypto-ETPETN--f374487.html

From the source:
Should I declare these profits in my tax return?
This is not mandatory, but you should be able to provide the relevant documents if the tax office asks.
If you want to be on the safe side, you can declare them in the SO annex, stating the date of purchase with purchase price and date of sale with selling price, the resulting profit (if costs for the coins have been incurred in the meantime, these can also be recognized). In most cases, a form-free supplement to the electronic declaration is required for this.

••

René@theGREENgeck0

1Sem.

@theGREENgeck0 Whether or not taxes are due depends on the product and I can't answer that question. I just wanted to tell you that just because the broker has not withheld any taxes, you cannot assume that you do not have to pay any. You are responsible for any taxation yourself via your income tax return.

•

byebyebayern@Langweiler

1Sem.

@theGREENgeck0 Thank you for that, because I really didn't know that.

••