Crypto Tax FAQs – Everything You Need to Know (Swedish Tax Agency)
Navigating cryptocurrency taxes can be complex. Below, we've compiled a clear and concise FAQ section to address your most common queries about crypto taxes in Sweden.
1. Can I use services like Koinly and Kryptos for my cryptocurrency tax declarations?
Yes, you can use calculation services such as Koinly and Kryptos. Kryptos specifically offers comprehensive crypto tax reporting tailored to comply with Swedish tax regulations.
2. How does the Swedish Tax Agency obtain information about my cryptocurrencies?
The Swedish Tax Agency can request information about all taxpayers in Sweden and will soon receive detailed transaction information from international cryptocurrency exchanges.
3. Should I declare crypto profits when I withdraw money to my bank or when profits appear in the app?
You must declare your profits and losses in the tax year after they occur. Exchanging between cryptocurrencies counts as a taxable sale, even if you don’t convert them to SEK.
4. Does the Tax Agency recommend any specific app or calculation service?
No, the Tax Agency does not recommend any specific service.
5. Where can I find the exchange rate for crypto purchases in USD to declare in SEK?
You can find the official USD to SEK exchange rates on the Riksbank’s website.
6. Should I use the exchange rate from the day of the transaction?
Yes, always convert the currency using the Riksbank's exchange rate from the transaction date.
7. Is there a tax-free profit threshold for cryptocurrencies?
No, all cryptocurrency profits must be declared and are taxable regardless of the amount.
8. Can the Tax Agency track my gains and losses from foreign crypto banks?
Yes, the Tax Agency can request and access your transaction data from foreign cryptocurrency exchanges. You are obligated to declare your profits and losses.
9. Do I need to document every staking payout?
Yes, each payout must be recorded using the exchange rate applicable on the day the funds become available for withdrawal.
10. How should Ethereum staking income that was locked be declared?
Locked Ethereum is taxable once it becomes accessible (for example, from April 2023 onwards). If not previously declared, you must request a reassessment.
11. Are withdrawal fees from crypto exchanges deductible?
Withdrawal fees themselves are not deductible. However, currency exchange fees under specific conditions can be deducted.
12. How do I handle profits followed by subsequent losses from trading cryptocurrencies?
You must pay taxes on all profits, even if you incur losses from later transactions.
13. What happens with staking rewards that have no market value?
If staking rewards have no market value, they must be declared at an acquisition value of 0 SEK.
14. Is there a minimum threshold for declaring crypto profits?
No, every profit, regardless of size, must be declared.
15. Is lending or pledging cryptocurrency taxable?
Lending cryptocurrency counts as a taxable disposal. However, pledging cryptocurrency where ownership is not transferred is not taxable.
16. Can I claim losses using a “Wash Sale”?
Yes, legitimate losses are deductible even if you repurchase the cryptocurrency immediately.
17. Do I need to report staking rewards automatically reinvested and not accessible?
No, staking rewards should only be reported once they become accessible.
18. Which exchange rate should I use when valuing cryptocurrencies?
Use a consistent daily exchange rate from a reputable cryptocurrency website, then convert from USD to SEK using the Riksbank's exchange rate.
19. What about tax liabilities when exchanging crypto for stocks or other assets?
Exchanging crypto for stocks or other assets is considered a fully taxable sale.
20. How are fraudulent losses or collateral losses in crypto loans handled?
Losses resulting from fraud are not deductible for tax purposes.
For further clarification or specific queries, contact Skatteupplysningen at +46 77 156 75 67.
| Step | Form | Purpose | Action |
|---|---|---|---|
| 1 | 1099-DA | Reports digital asset sales or exchanges | Use to fill out Form 8949. |
| 2 | Form 1099-MISC | Reports miscellaneous crypto income | Use to fill out Schedule 1 or C. |
| 3 | Form 8949 | Details individual transactions | List each transaction here. |
| 4 | Schedule D | Summarizes capital gains/losses | Transfer totals from Form 8949. |
| 5 | Schedule 1 | Reports miscellaneous income | Include miscellaneous income (if not self-employment). |
| 6 | Schedule C | Reports self-employment income | Include self-employment income and expenses. |
| 7 | Form W-2 | Reports wages (if paid in Bitcoin) | Include wages in total income. |
| 8 | Form 1040 | Primary tax return | Summarize all income, deductions, and tax owed. |
| Date | Event/Requirement |
|---|---|
| January 1, 2025 | Brokers begin tracking and reporting digital asset transactions. |
| February 2026 | Brokers issue Form 1099-DA for the 2025 tax year to taxpayers. |
| April 15, 2026 | Deadline for taxpayers to file their 2025 tax returns with IRS data. |
| Timeline Event | Description |
|---|---|
| Before January 1, 2025 | Taxpayers must identify wallets and accounts containing digital assets and document unused basis. |
| January 1, 2025 | Snapshot date for confirming remaining digital assets in wallets and accounts. |
| March 2025 | Brokers begin issuing Form 1099-DA, reflecting a wallet-specific basis. |
| Before Filing 2025 Tax Returns | Taxpayers must finalize their Safe Harbor Allocation to ensure compliance and avoid penalties. |
| Feature | Use Case Scenario | Technical Details |
|---|---|---|
| Automated Monitoring of Transactions | Alice uses staking on Ethereum 2.0 and yield farming on Uniswap. Kryptos automates tracking of her staking rewards and LP tokens across platforms. | Integrates with Ethereum and Uniswap APIs for real-time tracking and monitoring of transactions. |
| Comprehensive Data Collection | Bob switches between liquidity pools and staking protocols. Kryptos aggregates all transactions, including historical data. | Pulls and consolidates data from multiple sources and supports historical data imports. |
| Advanced Tax Categorization | Carol earns from staking Polkadot and yield farming on Aave. Kryptos categorizes her rewards as ordinary income and investment income. | Uses jurisdiction-specific rules to categorize rewards and guarantee compliance with local tax regulations. |
| Dynamic FMV Calculation | Dave redeems LP tokens for Ethereum and stablecoins. Kryptos calculates the fair market value (FMV) at redemption and during sales. | Updates FMV based on market data and accurately calculates capital gains for transactions. |
| Handling Complex DeFi Transactions | Eve engages in multi-step DeFi transactions. Kryptos tracks value changes and tax implications throughout these processes. | Manages multi-step transactions, including swaps and staking, for comprehensive tax reporting. |
| Real-Time Alerts and Updates | Frank receives alerts on contemporary tax regulations affecting DeFi. Kryptos keeps him updated on relevant changes in tax laws. | Observe regulatory updates and provide real-time alerts about changes in tax regulations. |
| Seamless Tax Reporting Integration | Grace files taxes using TurboTax. Kryptos integrates with TurboTax to import staking and yield farming data easily. | Direct integration with tax software like TurboTax for smooth data import and multi-jurisdictional reporting. |
| Investor Type | Impact of Crypto Tax Updates 2025 |
|---|---|
| Retail Investors | Standardized crypto reporting regulations make tax filing easier, but increased IRS visibility raises the risk of audits. |
| Traders & HFT Users | To ensure crypto tax compliance, the IRS is increasing its scrutiny and requiring precise cost-basis calculations across several exchanges. |
| Defi & Staking Participants | The regulations for reporting crypto transactions for staking rewards, lending, and governance tokens are unclear, and there is a lack of standardization for decentralized platforms. |
| NFT Creators & Buyers | Confusion over crypto capital gains tax in 2025, including the taxation of NFT flips, royalties, and transactions across several blockchains. |
| Crypto Payments & Businesses | Merchants who take Bitcoin, USDC, and other digital assets must track crypto capital gains for each transaction, which increases crypto tax compliance requirements. |
| Event | Consequences | Penalties |
|---|---|---|
| Reporting Failure | The tax authorities can mark uncontrolled revenues and further investigate. | Penalty fines, interest on unpaid taxes and potential fraud fees if they are deliberately occurring. |
| Misreporting CGT | Misreporting CGT Error reporting profits or losses can trigger the IRS audit. | 20% fine on under -ported zodiac signs, as well as tax and interest. |
| Using decentralized exchanges (DEXs) or mixers without records | The IRS can track anonymous transactions and demand documentation. | Possible tax evasion fee and significant fine. |
| Disregarding Bitcoin mining tax liabilities | Mining reward is considered taxable income, and failure of the report can be regarded as tax fraud. | Further tax obligations, punishment and potential legal steps. |
| Foreign crypto holdings: Non-disclosure | Foreign-accepted crypto FATCA may be subject to reporting rules. | Heavy fines (up to $ 10,000 per fracture) or prosecution for intentional non-transport. |
