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Old 22.03.2020, 18:19
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Cryptocurrencies - tax declaration

1. There are just a few most popular cryptocurrencies listed in the dropdown list on the Kryptowahrung tab in the Private Tax 2019 application. Is it OK to declare other cryptocurrencies as “Ubrige”? If so, do I need to provide any other details than those on the screenshot below?




2. As a result of holding certain cryptocurrencies (e.g. NEO, Ontology) I have received other cryptocurrencies (e.g. NeoGas, Ontology Gas). How should I declare them?


3. As many other users, I have received cryptocurrencies of value around $100 for free (details: https://medium.com/@kickecosystem/88...g-2937a1abf641). How should I declare them?
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Old 26.03.2020, 11:38
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Re: Cryptocurrencies - tax declaration

Quote:
1. There are just a few most popular cryptocurrencies listed in the dropdown list on the Kryptowahrung tab in the Private Tax 2019 application. Is it OK to declare other cryptocurrencies as “Ubrige”? If so, do I need to provide any other details than those on the screenshot below?
I'd personally still declare it as Kryptowahrung and choose any form the list (e.g. bitcoin).

Quote:
2. As a result of holding certain cryptocurrencies (e.g. NEO, Ontology) I have received other cryptocurrencies (e.g. NeoGas, Ontology Gas). How should I declare them?
Same

Quote:
3. As many other users, I have received cryptocurrencies of value around $100 for free (details: https://medium.com/@kickecosystem/88...g-2937a1abf641). How should I declare them?
Honestly if it's CHF 100 I wouldn't even declare it. It's highly unlikely that the tax office cares about those CHF 100. Your marginal wealth tax rate is likely ~0.1%. That's CHF 0.1 of wealth tax. And they round figures to thousands in the tax calculation. This is negligible. But if you truly want to declare for your peace of mind just do the same as point 1.

Keep things in perspective. The tax authorities care about your wealth tax money, not so much about which assets you hold. They probably don't care if you hold crypto or just cash in a bank account. Even less which kind of crypto you hold. You're fulfilling your obligation to declare your wealth to the best of your ability.
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Old 27.03.2020, 11:55
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Re: Cryptocurrencies - tax declaration

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I'd personally still declare it as Kryptowahrung and choose any form the list (e.g. bitcoin).


Same


Honestly if it's CHF 100 I wouldn't even declare it. It's highly unlikely that the tax office cares about those CHF 100. Your marginal wealth tax rate is likely ~0.1%. That's CHF 0.1 of wealth tax. And they round figures to thousands in the tax calculation. This is negligible. But if you truly want to declare for your peace of mind just do the same as point 1.

Keep things in perspective. The tax authorities care about your wealth tax money, not so much about which assets you hold. They probably don't care if you hold crypto or just cash in a bank account. Even less which kind of crypto you hold. You're fulfilling your obligation to declare your wealth to the best of your ability.

Thanks, Ztm. Just two more things.



1. When I choose BTC, then the application automatically applies the BTC to CHF exchange rate which cannot be changed. In this case I would have to first translate other crypto's value into BTC. Is this required or can I just leave it as Ubrige?



2. & 3. Looking at the Ertrage section at the bottom of the screenshot in the initial post, which of the three fields should I put the value of the crypto received for free?
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Old 31.03.2020, 17:56
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Re: Cryptocurrencies - tax declaration

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Thanks, Ztm. Just two more things.

1. When I choose BTC, then the application automatically applies the BTC to CHF exchange rate which cannot be changed. In this case I would have to first translate other crypto's value into BTC. Is this required or can I just leave it as Ubrige?
If there's truly no way to manually modify the Steuerwert after selecting BTC, then declare it under Uebrige as you suggested.

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2. & 3. Looking at the Ertrage section at the bottom of the screenshot in the initial post, which of the three fields should I put the value of the crypto received for free?
Well, I don't think it gave you any Erträge. To my understanding cryptos don't give any dividend/interests of the like. You want to write the value under Total Steuerwert.
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