One Year Holding Rule & Ledger

[ci1990]

Hi everyone,

This will be my first post here. I moved to Germany and living here now.

I have a question about Crypto taxes in Germany.

Let's say I bought 10k EUR worth of BTC today from Kraken. And then transferred that BTC to my Ledger device.
Then I keep that BTC untouched for a year. No trading.
After 365 days I decide to sell that BTC so I transfer it from my Ledger back to Kraken.
I sell it on Kraken and transfer the amount in EUR to my bank account in Germany.

Will my gains be tax free ? 

As far as I know if you hold your coins for 365 days then it should be tax free.
But what I would like to know is;
-Should the coins be held on the exchange that you buy it from ? or can it be transferred and kept on a Ledger device ?

Danke im Voraus  

[Aktienspekulaant]

hi,

yes they are tax free after being 365 days in your ownership.

they can be transferred during that time frame from the exchange to your ledger device and back. You do not need keep them on the exchange.

Good luck with German tax system

Rainer 

[ci1990]

Gerade eben schrieb Aktienspekulaant:

hi,

yes they are tax free after being 365 days in your ownership.

they can be transferred during that time frame from the exchange to your ledger device and back. You do not need keep them on the exchange.

 Good luck with German tax system

Rainer 

Thanks for your reply dear Rainer.

I also have some other BTC in my Ledger. How will I prove to Finanzamt that I sold that exact BTC that I've bought more than a year ago ? Is there a way to track this ?

Or should I keep that exact BTC in a new and empty wallet so it's easier to track and prove to Finanzamt ? 

Thanks!

 

[Ulli]

vor 25 Minuten schrieb ci1990:

Will my gains be tax free ? 

Yes. Document it. (with cointracking.info, for example)

vor 25 Minuten schrieb ci1990:

-Should the coins be held on the exchange that you buy it from ? or can it be transferred and kept on a Ledger device ?

It is not important, where your coins sleep for 365 days 😉

vor 25 Minuten schrieb ci1990:

Danke im Voraus  

Ist das ein kopierter Text?

Edited July 7, 2019 by Ulli

[ci1990]

Gerade eben schrieb Ulli:

Ist das ein kopierter Text?

Nein nicht kopierter

Ich lerne Deutsch aber ich kann mich auf Englisch besser erklären.. deshalb habe ich für diese Wichtige Topic auf Englisch geschrieben.

[Jokin]

vor 13 Stunden schrieb ci1990:

I also have some other BTC in my Ledger. How will I prove to Finanzamt that I sold that exact BTC that I've bought more than a year ago ? Is there a way to track this ?

If you can't prove that in an easy way, then you have to follow the First-in-first-out rule.

vor 13 Stunden schrieb ci1990:

Or should I keep that exact BTC in a new and empty wallet so it's easier to track and prove to Finanzamt ? 

At least you should keep them at a dedicated Bitcoin address. Just one input at each address.