I exchanged one virtual currency for another, i.e. bitcoins for ethereum. How do I report this on my tax return?
Report the information on your tax return as follows:
- Selling date: the date on which you exchanged bitcoins for ethereum
- Selling price: the value of ethereum you received through the exchange on the exchange date
- Purchase date: the date on which you originally acquired your bitcoins
- Purchase price: the value of the bitcoins in euros on the purchase date
- Also report the property acquisition costs and selling expenses, such as broker’s fees.
You can check the values of virtual currencies at a well-known cryptocurrency exchange. When calculating capital gains, the bitcoin purchase price and expenses are deducted from the selling price.
Page last updated 5/6/2021