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Offsetting losses from cryptocurrencies in PIT-38 – how to do it in 2025
For several years now, losses on cryptocurrencies can be offset in the PIT-38 declaration and reduce future profit taxes. This is one of the biggest changes introduced in 2019 and still applicable in 2025.
Can the loss from cryptocurrencies really be deducted?
Yes. According to Article 22, paragraph 1 of the PIT Act, the loss from the disposal of virtual currencies (i.e., cryptocurrencies) constitutes a cost of acquiring income and can be offset against income from the same source within the next 5 tax years.
For several years now, losses on cryptocurrencies can be offset in the PIT-38 declaration and reduce future profit taxes. This is one of the biggest changes introduced in 2019 and still applicable in 2025.
Can the loss from cryptocurrencies really be deducted?
Yes. According to Article 22, paragraph 1 of the PIT Act, the loss from the disposal of virtual currencies (i.e., cryptocurrencies) constitutes a cost of acquiring income and can be offset against income from the same source within the next 5 tax years.
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Concerns individuals who settle accounts with the Polish tax authorities.
There is a lot of content about cryptocurrency tax. People mislead others with their ignorance. Therefore, I will briefly describe how it really is below.
Do I have to submit a declaration?
If you have obtained income from the sale of virtual currencies (so-called cryptocurrencies), you must submit an annual PIT-38 declaration. You submit the declaration even if you obtain income as part of conducting business activity, except for activities referred to in Article 2, paragraph 1, point 12 of the Act on Counteracting Money Laundering and Financing of Terrorism, from which income is classified as income from non-agricultural business activities.
You must also submit a declaration if you did not obtain income from the sale of virtual currencies but incurred expenses for their acquisition during the calendar year.
How to calculate the tax base?
The tax base is the income (i.e., revenue - costs of obtaining revenue).
How much will I pay?
You will pay a 19% income tax on the income obtained from the sale of virtual currencies.
Legal basis
Act of July 26, 1991, on Personal Income Tax (PIT Act)
Source: podatki.gov.pl
Concerns individuals who settle accounts with the Polish tax authorities.
There is a lot of content about cryptocurrency tax. People mislead others with their ignorance. Therefore, I will briefly describe how it really is below.
Do I have to submit a declaration?
If you have obtained income from the sale of virtual currencies (so-called cryptocurrencies), you must submit an annual PIT-38 declaration. You submit the declaration even if you obtain income as part of conducting business activity, except for activities referred to in Article 2, paragraph 1, point 12 of the Act on Counteracting Money Laundering and Financing of Terrorism, from which income is classified as income from non-agricultural business activities.
You must also submit a declaration if you did not obtain income from the sale of virtual currencies but incurred expenses for their acquisition during the calendar year.
How to calculate the tax base?
The tax base is the income (i.e., revenue - costs of obtaining revenue).
How much will I pay?
You will pay a 19% income tax on the income obtained from the sale of virtual currencies.
Legal basis
Act of July 26, 1991, on Personal Income Tax (PIT Act)
Source: podatki.gov.pl
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