Save taxes on your crypto gains and track all your investments and NFTs - no matter where they are
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The short answer is yes. You have an obligation to declare all cryptocurrency transactions. Cryptocurrencies are treated as "other" assets in most countries. That means they will be taxed like a painting or gold. When you sell a cryptocurrency you are allowed to subtract the price, for which you bought it, and related fees. What's left is the gain, on which you owe taxes. In most countries you pay Capital Gains Tax on that gain, but in some (like Germany) you pay taxes using your personal income tax rate.
NFTs are treated like other cryptocurrencies and therefore you will have to pay the same taxes using the same rules.
Generally speaking, you will have to declare all DeFi activity to your tax authority and then pay your regular taxes on gains upon sale. Tracking become tricky because your smart contract will often pay you small amounts daily. This is where Capital-Bee's automated wallet updates come in handy. No need to worry about it, we do everything for you.
Rewards from mining / staking are treated as inflow at cost base 0. You will have to declare it with your taxes and the rules for actually paying taxes are the same as for other crypto gains.
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