Waltio

Properly labeling your withdrawal transactions allows you to justify cryptocurrency outflows to tax authorities and ensures 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 various implications.

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The applicable calculation method in Belgium is FIFO (First In, First Out).

All withdrawals must be labeled or matched as an internal transfer.

- The applicable calculation method in Belgium is FIFO (First In, First Out).
- All withdrawals must be labeled or matched as an internal transfer.

Here is an explanatory table of the withdrawal labels available for Belgian users (crypto-to-crypto method) and their tax implications:

To categorize your transactions, go to the <a href="https://tax.waltio.com/transactions" rel="nofollow noopener noreferrer" target="_blank">My Transactions</a> page and <a href="https://help.waltio.com/en/articles/5173259">follow this tutorial</a>.

To understand LIFO and FIFO calculation methods, check out our article on <a href="https://help.waltio.com/en/articles/14125359">Calculation Methods</a>.

- To categorize your transactions, go to the <a href="https://tax.waltio.com/transactions" rel="nofollow noopener noreferrer" target="_blank">My Transactions</a> page and <a href="https://help.waltio.com/en/articles/5173259">follow this tutorial</a>.
- To understand LIFO and FIFO calculation methods, check out our article on <a href="https://help.waltio.com/en/articles/14125359">Calculation Methods</a>.

This article explains which label to select to categorize your withdrawal transactions as a Belgian tax resident.

Transactions - Belgium - Withdrawal labels

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Withdrawal Label	Taxable?	Impact on Portfolio Value (Holdings)
Payment	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Derivative Loss	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Fees	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Swap	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Liquidity Addition	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
ICO Participation	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Other Loss	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
NFT	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Liquidation	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Other Withdrawal	Yes 💰 Miscellaneous income	Yes ✅ Decreases ↘️
Staking	No ❌	No ❌
Collateral Deposit	No ❌	No ❌
Hack or Loss	No ❌	Yes ✅ Decreases ↘️
Donation / Gift	No ❌	Yes ✅ Decreases ↘️
Internal Transfer	No ❌	Yes ✅ Decreases ↘️

Transactions - Belgium - Withdrawal labels

📝 Description

⚠️ Warnings

⚖ Summary table of withdrawal labels

💡 Additional information