In Spain, cryptocurrency donations have tax implications for both the donor and the recipient. Learn how donations are taxed, how to calculate capital gains when donating crypto, and how the donation value affects the acquisition price for future tax calculations. In Spain, donations may be taxed for the donor and the donee in different ways :

Taxation applicable to the donor: If the value given is higher than the acquisition value, then the donation will be considered as an Income from gains and loss that derive from the transfer of assets and will have to be declared.

Example :

2020 : I buy 1 BTC for 5 000 euros

2022: I give 1 BTC to my friend. The current market value is equal to 1 BTC = 15 000 euros.

The acquisition price is equal to 5,000 euros.

The value of my gift is 15,000 euros.

👉 I realize a capital gain of 10,000 euros which will have to be included in my tax return as a trading gain.

Taxation applicable to the donee : The person who receives the gift may be liable for gift tax , but the gift willimpact the purchase price of the crypto received.

Example :

February 2022: my friend gives me 1 BTC.

( I may have to pay some donation fees, depending on the case).

The current market value is equal to 1 BTC = 15,000 euros.

👉The acquisition price of my BTC is 15,000 euros.

May 2022: I sell this BTC for 20 000 euros.

👉 I realize a capital gain of 5,000 euros which must be declared.