📝 Description
Correctly labeling your deposit transactions allows you to justify incoming crypto flows to tax authorities and ensures they are properly 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 the calculation of your capital gains. Do not apply labels if you are unsure of their various implications.
⚠️ Warnings
The applicable calculation method in Belgium is FIFO (First In, First Out).
In Belgium, when passive income is received, it is deemed to have been acquired at its market value on the date of receipt.
Unlabeled deposits are treated by default as acquired at their market value on the date of receipt.
All deposits must be labeled or matched as an internal transfer.
⚖ Summary table of deposit labels
Here is an explanatory table of deposit labels available for Belgian users and their tax implications:
Deposit Label | Taxable? | Impact on Portfolio Value (Stock) |
Donation / Gift | No ❌ | Yes ✅ Increases ↗️ |
Crypto Purchase | No ❌ | Yes ✅ Increases ↗️ |
Airdrop | No ❌ | Yes ✅ Increases ↗️ |
Mining | No ❌ | Yes ✅ Increases ↗️ |
ICO | No ❌ | Yes ✅ Increases ↗️ |
Salary | No ❌ | Yes ✅ Increases ↗️ |
Swap | No ❌ | Yes ✅ Increases ↗️ |
Internal Transfer | No ❌ | Yes ✅ Increases ↗️ |
Loan / Borrowing | No ❌ | Yes ✅ Increases ↗️ |
Collateral Repayment | No ❌ | No ❌ |
Unstaking | No ❌ | No ❌ |
Scam | No ❌ | No ❌ |
Cashback | Yes ✅ | Yes ✅ Increases ↗️ |
Liquidity Withdrawal | Yes ✅ | Yes ✅ Increases ↗️ |
Masternodes & Staking | Yes ✅ | Yes ✅ Increases ↗️ |
Derivative Gain | Yes ✅ | Yes ✅ Increases ↗️ |
Other Gains | Yes ✅ | Yes ✅ Increases ↗️ |
Fork | Yes ✅ | Yes ✅ Increases ↗️ |
Play2Earn Gain | Yes ✅ | Yes ✅ Increases ↗️ |
💡 Additional information
To categorize your transactions, go to the My Transactions page and follow this tutorial.
To understand LIFO and FIFO calculation methods, check out our article on Calculation Methods.