Accordingly, we at Blockpit also receive many questions about possible taxation. Bounties differ from airdrops in that a service must be rendered in return for the receipt. Rather, it is simply the use of a service. Therefore, the allocation of Bitpanda BEST Rewards is not taxable because no consideration is provided. “The mere use of a platform should not lead to a taxable airdrop, for the following reason: the mere use of a platform is not an ‘active doing’ in the sense of a consideration character.

Please note that the one-year limit is transferred to the donee in the case of a gift.

You can give away up to 20,000€ per year tax-free (for example to acquaintances) and you do not have to observe the one-year limit. Once the 10 years are up, the allowances for gifts are renewed. Please note that the one-year limit is transferred to the donee in the case of a gift. Giving crypto-donations is also tax-free. The allowances can be used up within 10 years. However, a 10-year time limit applies to these allowances!

Business Accounting And Bookkeeping

If you sell crypto before the end of the one-year holding period. If you earn crypto income. If you are paid in crypto by your employer. This means income from mining, lending, staking, forging, masternodes, margin trading and bounties. If you earn your income commercially. Crypto tax advisor Georg Brameshuber has already explained above that the distinction private/commercial is not always clear. A sale made after January 2nd, 2024 is tax free. Example: if you buy on January 1st, 2023, a sale made up to and including January 2nd, 2024 is taxable.

When Do I Not Have To Pay Crypto Taxes? First things first: if you own cryptocurrencies for more than a year that you didn’t receive from capital gains (e.g. margin trading), then selling them privately is always tax-free, no matter how high your profit is. 2. Your profits remain below certain exemption limits. That is, there is simply no profit. 1. No tax-relevant events are realized. Those are the basics.