Hello 👋,
Deposits usually increase the value of your portfolio.
The choice of the label have an impact on the calculation of your capital gains or losses. So, please do not use labels if you are unsure of their different impacts.
These tax labels are only applicable if you use the calculation method that excludes crypto/crypto transactions from the tax.
If you use the crypto/crypto method (default method) see this article.
Not all deposit have to be labeled, only the following one should be labeled in Waltio :
Cashback
CFD gains
Masternodes, staking and farming gains
Other gains
Fork
👉 To label a transaction in our tool, follow this tutorial.
Here is a table explaining the deposit labels available to Belgian users and their tax consequences :
Deposit label | Does the label make the transaction taxable? | Does the labelled transaction impact the value of the portfolio? |
Donation Crypto Buy Airdrop Salary Mining ICO Transfer between accounts Swap |
No ❌ |
Yes ✅ Increase ↗️ |
Collateral Reimbursement Unstaking Scam |
No ❌ |
No ❌ |
Cashback Masternode & Staking CFD gain Other gain Fork |
Yes ✅ |
Yes ✅ Increase ↗️ |
Here are two examples to understand:
1️⃣ You receive an airdrop in cryptocurrency. On the deposit transaction, you apply the label “Airdrop”. This deposit will increase the amount of your cryptos in stock and will not be taxable.
2️⃣ You receive 0.2 ETH as a reward for your staking. On the deposit transaction, you apply the label “Gains from masternodes, staking, farming, CFD”. This deposit will increase the amount of cryptos you have in stock, and it will be a taxable transaction (taxable as income from capital at 30%).
If you use the “Transfer between account” label, you must add it to the withdrawal and deposit.
Example: You send 1 ETH from your Binance account to your Coinbase account.
You therefore have a withdrawal of 1 ETH from Binance and a deposit of 1 ETH on Coinbase: these two transactions must be labelled as “transfer between accounts”.
The Waltio team