Spring is not only a time of order, but also a time of tax. If you were trading cryptocurrency in 2024, you have until April 30, 2025 to lodge a PIT-38 and settle your profits or losses. Check how to do this efficiently and avoid mistakes.
Who needs to file a PIT-38 for Crypto?
The PIT-38 form refers to persons who in a given tax year obtained revenue from the sale of securities, shares, derivatives and – most importantly for cryptoinvestors – virtual currencies. If you've sold bitcoin, ether or any other cryptocurrency, you have to show those transactions in that declaration.
Until when to file a PIT-38?
You have until April 30, 2025. If this day falls on a weekend or a holiday, the deadline shall be extended to the first working day after that date. In 2025, April 30 is Wednesday, so there is no postponement.
How to Account Crypto At PIT-38?
The cryptocurrency settlement is to show:
- Revenue from the sale of cryptocurrency (i.e. the amount you obtained from the sale)
- Cost of obtaining revenue (i.e. expenditure on purchasing cryptocurrency and commissions)
Tax revenue is the difference between income and costs. The tax is 19% of the income earned.
Example of settlement
You bought Crypto For PLN 20,000, you sold it for PLN 30,000. Your income is PLN 10,000 from which you will pay PLN 1 900 tax.
How to prepare for settlement?
Collect documents confirming transactions: stock statements, bank statements, bills for purchasing cryptocurrency digging equipment.
Calculate revenue and costs – you can use the tax calculator available on the Crypto Shares portal, which will automatically count values at current NBP or cryptocurrency rates.
Fill in PIT-38 – enter revenue and costs in the virtual currency section. If you've suffered a loss, you can settle it in years to come.
Make a declaration electronically (e.g. via e-Declarations or your e-PIT) or paper at the tax office.
The most common questions and practical tips
What exchange rates are applicable?
Convert revenue and costs into gold at the average rate of NBP on the day preceding the transaction.
Can you deduct commissions?
Yes, stock commissions and other costs related to the purchase and sale of cryptocurrency are included in the cost of obtaining revenue.
What if I have a loss?
The loss of cryptocurrency can be settled in subsequent years, reducing future tax revenues.
