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Can we pool our knowledge regarding TAX and crypto and make some kind of FAQ/sticky?

sublime1 · 2017-12-21 13:06:53

There is huge confusion out there regarding the tax situation with crypto. I have seen pretty much every opinion expressed ranging from "crypto is play money and therefore tax free" to "not only is it taxable, but it's considered as income, and every trade (even from one crypto to another) is a taxable event". Many people…

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#962 03-05-2021 11:48am
bfa1509

Registered Users Posts: 1,022 ✭✭✭

Join Date: September 2014

Posts: 978

Very confusing question ahead, forgiveness please.

I have a realised loss of €2500 from 2020. I have a realised gain of €3000 so far this year. When do I carry forward the loss to offset my gain?

Scenario A
Don't pay any tax this year as 3000-2500-1270 = No tax owed, then report this calculation next year.

Scenario B
Pay (3000-1270)*0.33 = €570 CGT tax due in November 2021
Lets say I don't make any more transactions in 2021 then in 2022 I report 3000-2500-1270 -> make an appeal to get the €570 back

I know I don't owe anything, this is just a question of how to report this properly.

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