The most frequent community questions about crypto taxes and Blockpit

In our community on Telegram, Discord, in the forum and in our webinars, we are regularly asked questions. We have collected the most frequent ones and answered them compactly for you.

If you have further questions, our community - including experienced users and moderators - will be happy to help you at any time.

1. General questions about crypto tax in Austria

Do I have to file a tax return, even if I only made losses or did not realize any profits?

No, it is not mandatory. But: It can be useful to declare the losses anyway - for example, to avoid queries from the tax office or to show consistency in case of a profit from the previous year. A loss carryforward is unfortunately not possible for private individuals in Austria.

Is there a tax-free allowance for crypto gains?

No, there is no longer a tax-free allowance. For new crypto assets acquired since 2022: 27.5% KESt (capital gains tax) is due from the first euro.

Exception: For NFTs, a tax-free allowance of €440 per year still applies, as they are treated as speculative transactions.

How are stablecoins like USDC or EUROC taxed when paid out in Euro?

Stablecoins are considered cryptocurrencies in Austria. If you later exchange them for Euro (FIAT), a taxable profit may arise - this is taxed with 27.5% capital gains tax (KESt).

Example: You make profits with BTC and exchange them for stablecoins like USDC. The acquisition costs are transferred in this process. If you later exchange these stablecoins for Euro, the difference to the original BTC purchase value will be taxed - if a profit arises.

How are futures and leveraged positions taxed in Austria?

As income from unsecuritized derivatives - i.e. with your personal income tax rate (0–55%). Typically, the tax rate is between 35% and 42%.

Important:

• No offsetting against spot crypto gains/losses possible.
• Tax-wise, it belongs to a different type of income than classic crypto trading.

How can one best distinguish between interest and staking in DeFi?

It depends on the decentralization:

• Staking usually exists when you interact directly with a decentralized protocol via smart contract.
• Interest is more likely to apply when you act with a centralized platform or company - even if it claims to be decentralized.

Rule of thumb: The less transparent or decentralized the structure - especially without an on-chain transaction - the more likely it is to be interest (taxable upon inflow).

Tip: For higher amounts, you should clarify with a tax advisor how to document and argue your cases. There is no clear legal distinction.

How does Blockpit recognize tax-free old stock?

All crypto assets acquired before March 1, 2021, are considered tax-free old stock in Austria. Blockpit automatically recognizes these and calculates:

• Old stock with the FIFO method
• New stock (from March 1, 2021) with the average price

As soon as the old stock of an asset is used up, Blockpit automatically switches to the average price method - correctly and in compliance with regulations. This way, you make the best possible use of tax advantages.

Can I offset crypto gains against stock losses or vice versa?

Yes, but only if both incomes are subject to the 27.5% KESt rate. This is the case, for example, with securitized securities (classic stocks) - not with derivatives or futures.

For example, if you have crypto losses and at the same time stock gains, you can offset them in your tax equalization and get back overpaid tax. However, Blockpit only shows crypto data - you have to add securities yourself.

Can I request a voluntary audit from the tax office?

In Austria, you can voluntarily request an audit of your crypto tax return - this is done via the so-called regular income tax assessment.

Here's how it works:

• Voluntarily submit your income tax return: Even if the tax office does not ask you to, you can voluntarily submit your return (including crypto income) via FinanzOnline (bmf.gv.at).
• After submission, the tax office checks your details - this is not a formal external audit, but a normal assessment.

Why a voluntary audit is worthwhile:

• You show proactive transparency - this reduces the risk of later demands or criminal proceedings.
• Corrections are possible at any time - with error-free information, you enjoy security.

Conclusion: Yes - you can declare a voluntary tax assessment including crypto at any time and have it formally checked. Recommended to create clarity and be legally on the safe side.

How is a swap between crypto and PAX Gold (PAXG) treated for tax purposes?

PAX Gold (PAXG) is not a stablecoin in the classic sense, but a gold-backed asset token - it is not treated like "normal" cryptocurrency in Austria.

The exchange of crypto for PAXG (or vice versa) is therefore considered a taxable disposal, even without a FIAT reference. It does not fall under the tax exemption for crypto-to-crypto trades (§ 27b EStG), because PAXG is legally treated like physical gold.

Conclusion:

• Crypto ↔ PAXG = taxable
• PAXG held longer than 1 year & physically deliverable? → Then possibly tax-free upon sale (analogous to physical gold)

Can you recommend good crypto tax advisors in Austria?

Yes, we can. Experienced crypto tax advisors in Austria include:

• Georg Brameshuber (Validvent)
• Natalie Enzinger (Enzinger Steuerberatung)

Both work closely with Blockpit. You can book an initial consultation directly via the Blockpit app in the "Consulting" menu.

How do I correctly enter losses in the tax return?

In Austria, losses from crypto sales belong in form E1, key figure 175 (on page 2 under "Income from cryptocurrencies" according to § 27 Abs. 4a EStG).

Loss offsetting is possible if both incomes are subject to the 27.5% KESt rate. This is the case, for example, with securitized securities (classic stocks) - not with derivatives or futures.

Tip: With the Blockpit tax report you get all values calculated ready - including pre-filled fields for your tax return.

Can Blockpit license costs be deducted as income-related expenses in the income tax equalization?

In Austria, this is unfortunately no longer possible since the new regulation and the special tax rate.

2. Blockpit Functions & Tax Report

Can I create a tax report with Blockpit only for taxable transactions (e.g. sales, staking), without disclosing all hodl coins?

Basically: no, this is currently not directly possible. Blockpit always creates a complete tax report for the respective tax year - i.e. with all transactions, not just the taxable ones. The reason: even seemingly tax-free transactions (such as pure transfers or hodl coins) can influence later taxable transactions - for example, by determining acquisition values, holding periods or old stocks.

Important to know: If you have wallets that were not actively used in the tax year concerned, they will not appear in the report. Only transactions that actually took place in the respective year are listed.

And: You don't have to submit the Blockpit report. You can also simply enter the relevant amounts (e.g. profits, staking income) yourself in your income tax return. The report primarily serves as documentation for yourself and for security in case of an audit.

If you decide to submit the report, you can of course also omit pages or transactions, for example by editing the PDF file. Nevertheless: The higher the amounts, the more sensible it is to provide the tax office with a complete and comprehensible report - to avoid queries.

How do I deal with spam transactions in Blockpit?

It's best to mark them as "Spam", not delete them. This will hide the transaction in the tax report and portfolio, but store it internally - without later data problems.

Why not delete? Deleting transactions means missing transactions in the history, which can lead to inventory discrepancies and error messages. Marking as spam is the cleanest solution. Marking as spam also has the advantage that future transactions of the same asset are also recognized as spam and treated accordingly.

Should old or closed wallets and accounts from the past be removed from Blockpit?

Better not. Old wallets often contain relevant transaction data (e.g. acquisition costs) that are crucial for the correct taxation of later sales. If you delete them, Blockpit can no longer trace the transaction chain - which can lead to errors or missing values in the report.

Exception: An account has never been linked to other wallets and has been completely settled - then deleting it would be uncritical. Nevertheless: More documentation is safer.

I made a mistake when transferring the data - how can I correct it?

In most cases, it is easiest to delete the faulty integration and reconnect it. How this works is explained here. You can also delete all data, i.e. multiple integrations, at once - see here.

Attention: If you have manually labeled or adjusted many transactions, it might be more sensible to correct individual errors selectively - depending on the effort involved. If you are unsure, our support team will also help you.

Is there support or help with processing and error analysis in Blockpit?

Yes, you have several options:

1. Support Ticket: Our team helps with missing, duplicate, or incorrect transactions - simply submit a ticket with screenshots or CSV extracts.
2. AI Support Assistant (Beta): Available around the clock directly in the WebApp - for quick help via chat.
3. Video consultation via HalloSophia: Personal support from our Blockpit experts - bookable in various consultation packages.

When will integration XY be available in Blockpit? When will the CSV upload for exchange XY come?

Whether and when an integration comes strongly depends on demand.

Tip: In our AI Assistant in the app, you will find all current feature requests - there you can vote for integrations or submit new suggestions. The more votes, the higher the chance of implementation.

Until then: Use our manual Excel import template.

Why has Blockpit become more expensive?

The last price adjustment was two years ago. During this time, we have been able to keep prices stable despite rising infrastructure costs and inflation.

Compared to other providers, we remain in the same price segment - with extensive functionality and reliable support.

3. Questions about Bitpanda

Do I have to file a tax return if I only bought and sold crypto on Bitpanda?

No, not necessarily - if you only use spot trading. In this case, Bitpanda automatically deducts the tax.

But: As soon as you also use other products (e.g. Bitpanda Cash Plus, leverage products, stocks, derivatives) or have other wallets/exchanges, you are responsible yourself - and may have to file a tax return.

How can I prove to the tax office that Bitpanda has already remitted 27.5% tax?

Bitpanda automatically deducts capital gains tax (27.5%) for spot trades - this information is visible in Bitpanda's annual tax certificate.

This is how you prove it:

1. Download the annual tax report from Bitpanda (in your Bitpanda account under "Tax documents").
2. In your income tax return, you declare the already taxed amounts under "domestic capital gains" (e.g. key figure 982 in form E1).
3. The Blockpit tax report also takes these deductions into account - they are not listed again as taxable.

Tip: Send the Bitpanda tax certificate and/or the Blockpit report as an attachment to your tax return to avoid queries.

Why does Bitpanda never ask for the tax number - is that a problem?

Not yet, but it will soon be mandatory. At the latest from January 1, 2026, crypto exchanges must request the tax number according to the Crypto Asset Reporting Framework (CARF). Many providers are already preparing for this - Bitpanda will also implement this in good time. Currently, it is not yet mandatory, but that will change.

Are transfers between Bitpanda and Cold Wallets correctly considered in Blockpit?

Yes, as long as both sides are correctly integrated. If you link Bitpanda via API and your Cold Wallet via Public Key, Blockpit automatically recognizes the transfers, correctly marks them as non-taxable, and also takes into account acquisition costs and old holdings.

Is the Bitpanda Cash Plus product correctly tracked in Blockpit?

Yes, it is. Cash Plus is a derivative - you exchange Euro for Cash Plus and later back again. Blockpit automatically recognizes these transactions via the Bitpanda API and correctly evaluates them as a capital gain or loss.

How does Blockpit recognize automatically deducted taxes from Bitpanda and prevent double taxation?

Blockpit reports taxes already deducted by Bitpanda in the tax report but does not mark them as taxable again - this avoids double taxation.

This information is also important to correctly offset losses from Bitpanda against gains from other exchanges (e.g. Binance). Blockpit automatically and correctly takes this into account in the report.

You can find more details in this Helpcenter article: How does Blockpit take into account the tax remitted by Bitpanda?

How do I enter the acquisition data of my assets in Bitpanda - and how does Blockpit support me in this?

We have a detailed Helpcenter article that explains this in detail: Querying acquisition data with the help of Blockpit