📝 Description
By properly categorizing your withdrawal transactions, you can justify your cryptocurrency outflows to tax authorities and ensure they are accurately factored into your capital gains calculations.
The label you choose directly impacts the calculation of your capital gains and losses. Transactions labeled as non-taxable will not be included in your capital gains calculations. Do not use labels if you are unsure of their impact.
⚠️ Every withdrawal transaction must be labeled, otherwise the calculation results will only be approximate.
👉 AP = Acquisition Price
⚖ Summary table of withdrawal labels
Label | FIFO Impact / Acquisition Price | Taxable? | Impact on Crypto Holdings | Use Case / Example |
Payment | AP: Initial price | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
Fees | AP: Initial price | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
Staking | AP: Initial purchase price of the staked crypto | ❌ No FIFO impact | ❌ Not taxable | ⏸ No change |
Internal Transfer | AP: Initial purchase price of the transferred crypto | ❌ No FIFO impact | ❌ Not taxable | ⏸ No change |
Derivative Loss | AP: Initial price | ✅ FIFO Neutralization | ✅ Savings tax base (Capital loss from transfer) | ⏬ Decrease |
Donation / Gift | AP: Initial price | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
Hack or Loss | AP: Initial price | ✅ FIFO Neutralization | ✅ General tax base (Capital loss without transfer) | ⏬ Decrease |
Liquidity Addition (LP) | AP: Initial price | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
Collateral Deposit | AP: Initial purchase price of the collateralized crypto | ❌ No FIFO impact | ❌ Not taxable | ⏸ No change |
Other Withdrawal | AP: Initial price | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
ICO Participation | AP: Initial price of the crypto used for the ICO | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
Other Loss | AP: Initial price | ✅ FIFO Neutralization | ✅ General tax base (Capital loss without transfer) | ⏬ Decrease |
NFT | AP: Initial price of the crypto used to purchase the NFT | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
Swap | AP: Initial price of the crypto used for the swap | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
Collateral Liquidation | AP: Initial price of the collateralized crypto | ✅ FIFO Neutralization | ✅ Savings tax base (Capital gain from transfer) | ⏬ Decrease |
💡 Additional information
If you use the
Internal Transferlabel, you must apply it to both the withdrawal and the deposit. Example: you send 1 ETH from your Binance account to your MetaMask wallet. You have a withdrawal on Binance and a deposit on MetaMask: both transactions must be labeledInternal Transfer.To label your transactions, head over to the My Transactions page.
For more details on Spanish cryptocurrency taxation, read the dedicated article in our Help Center.
To understand LIFO and FIFO calculation methods, check out our article on Calculation Methods.