The Income Tax deadline is approaching; see how to declare cryptocurrencies
There is only one week left until the end of the Income Tax 2025 deadline, and investors who have not yet submitted the document should remember to include their cryptocurrencies in the declaration.
It is essential to know and follow the rules of the Federal Revenue Service to avoid falling into the fine mesh or facing legal issues when declaring crypto assets.
First step: gather documents
According to the responsible accountant at Razonet, Ana Salvatori, the first step for a correct declaration is to gather the documents that prove all the transactions made.
Statements or reports from cryptocurrency brokers containing information such as the date of the transaction, amount of coins traded, value paid or received in reais, and, whenever possible, the CNPJ of the exchange or CPF of the seller are necessary.
“The purchase document is necessary to calculate the acquisition cost, that is, the amount paid for the cryptocurrency. This amount must be reported in the ‘Assets and Rights’ section, with the specific code for the type of crypto asset. There, you register the acquisition value and the quantity acquired, updating annually as new purchases or sales occur,” says the accountant.
Did you sell the cryptocurrencies? Declare the gains
If there was a sale of cryptocurrencies with profit — that is, a positive difference between the sale price and the acquisition cost — it is necessary to declare this gain in the ‘Capital Gains’ section, as long as the total sales in the month exceeded R$ 35 thousand.
In these cases, the tax due must be calculated and paid by the last business day of the following month after the operation, through the GCAP program, made available by the Revenue Service.
If the total sales in the month did not exceed R$ 35 thousand, the profit is exempt from tax, but must still be reported in the “Exempt and Non-Taxable Income” section, in the specific line for capital gains from the sale of assets within the exemption limit.
