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