Question 1

Download tax return

Accepted Answer

Use Blockpit and download your complete report as PDF file. With Blockpit, users can track their portfolio in real time, monitor profits/losses, calculate taxes and keep an eye on their crypto trades on the road in addition to the Webapp thanks to the mobile app for Android and iOS. Transactions can be synchronized automatically via API access. Our software is for traders, tax consultants and institutions such as banks and tax offices.

Question 2

Crypto Tax Software - Webapp, Android & iOS

Accepted Answer

Blockpit's software tool is the interface between traders, tax consultants and institutions such as banks and tax offices. Blockpit offers a suitable software solution for all those who deal with cryptocurrencies and taxes.

Question 3

Do cryptocurrencies such as Bitcoin, Ethereum & Co. have to be taxed?

Accepted Answer

Private individuals are obliged to pay tax on profits from trading with cryptocurrencies. Depending on the type and amount of income and the respective tax country, different tax regulations or the individual's own progressive income tax rate apply. In principle, income from mining, trading, master nodes, airdrops, etc. is taxable with some exceptions. Here you will find information on taxation of Bitcoin in Germany, Austria and the Switzerland.

Question 4

How high is the tax on cryptocurrencies in Germany, Austria and Switzerland?

Accepted Answer

Currently there is no uniform approach to cryptographic tax regulations. Therefore, each country acts according to its own ideas when it comes to collecting taxes on cryptocurrencies. Here you will find information for Germany, Austria and the Switzerland.

Question 5

What are the calculation methods for taxes on cryptocurrencies?

Accepted Answer

The following calculation methods can be used with the Blockpit software depending on the country: FIFO (First-in-First-out), LIFO (Last-in-First-out) and HIFO (Highest-in-First-out).

Question 6

Why can governments and authorities trace crypto users even though the trade in Bitcoin and Co. is anonymous?

Accepted Answer

By analysing the respective block chain using special software or by the pressure of authorities on exchanges (in Austria e.g. Bitpanda) to release user data, comprehensive user research could be carried out. It is difficult to say how far the authorities (especially the tax office) currently go technologically, but at least a FinTech advisory board (with a focus on cryptocurrencies) and activities of the Federal Criminal Police Office (for forensic analysis of Bitcoin and other cryptocurrency transactions) are already reacting to developments in the field of cryptocurrencies.

Bitcoin Tax Return

Tax calculation and portfolio tracking for cryptocurrencies

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