📝 Description
This guide lists the withdrawal labels available on Waltio for Italian users. Each label has a specific tax impact on LIFO calculations and the taxation of your operations.
👉 AP = Acquisition Price
👉 When a withdrawal neutralizes or impacts the LIFO cost, it is always determined by the AP of the cryptocurrency removed from the chronological LIFO queue (= removal of the cryptocurrency from your wallet).
⚠️ Warnings
The applicable calculation method in Italy is LIFO (Last In, First Out).
Only crypto-to-fiat, goods, services, and EMT stablecoin transactions are treated as taxable events.
All passive crypto transactions (excluding taxable disposals) enter the LIFO stack at an acquisition cost of €0.
⚖ Summary table of withdrawal labels
Label | LIFO Impact / Acquisition Price | Taxable? | Impact on Crypto Holdings | Example |
Payment | Initial cost unchanged | ✅ Neutralizes LIFO | ✅ Miscellaneous financial income (Redditi diversi) | ⏬ Decrease |
Fees | Initial cost unchanged | ✅ Neutralizes LIFO | ❌ Not taxable | ⏬ Decrease |
Staking | AP: Initial purchase price of the staked crypto | ❌ No LIFO impact | ❌ Not taxable | ⏸ No change |
Internal Transfer | AP: Initial purchase price of the transferred crypto | ❌ No LIFO impact | ❌ Not taxable | ⏸ No change |
Donation / Gift | Initial cost unchanged | ✅ Neutralizes LIFO | ❌ Not taxable | ⏬ Decrease |
Hack or Loss | Initial cost unchanged | ✅ Neutralizes LIFO | ❌ Not taxable | ⏬ Decrease |
Liquidity Addition | Initial cost unchanged | ✅ Neutralizes LIFO | ❌ Not taxable (taxable if swapped to an EMT stablecoin) | ⏬ Decrease |
Collateral Deposit | AP: Initial purchase price of the collateralized crypto | ❌ No LIFO impact | ❌ Not taxable | ⏸ No change |
Other Withdrawal | Initial cost of the withdrawn crypto unchanged | ✅ Neutralizes LIFO | ✅ Miscellaneous financial income (Redditi diversi) | ⏬ Decrease |
ICO Participation | Initial cost of the token used for the ICO unchanged | ✅ Neutralizes LIFO | ❌ Not taxable | ⏬ Decrease |
Other Loss | Initial cost unchanged | ✅ Neutralizes LIFO | ❌ Not taxable | ⏬ Decrease |
NFT | Initial cost of the crypto used to purchase the NFT unchanged | ✅ Neutralizes LIFO | ✅ Miscellaneous financial income (Redditi diversi) | ⏬ Decrease |
Swap | Initial cost of the swapped crypto unchanged | ✅ Neutralizes LIFO | ❌ Not taxable (taxable if swapped to an EMT stablecoin) | ⏬ Decrease |
Collateral Liquidation | Initial cost unchanged | ✅ Neutralizes LIFO | ❌ Not taxable | ⏬ Decrease |
Derivative Loss | Initial cost unchanged | ✅ Neutralizes LIFO | ✅ Specific tax regime (not taxable on Waltio) | ⏬ Decrease |
💡 Additional information
To categorize your transactions, head to the My Transactions page and follow this tutorial.
For further insights on Italian cryptocurrency taxation, check out the dedicated article in our Help Center.
To understand LIFO and FIFO calculation methods, check out our article on Calculation Methods.