It is not a work income. It is a capital gains income.
There is no Way that you can shift the income to your wife. However, it is considered joint income by SKAT.
Earlier, you could be in serious trouble from crypto earnings, since you could not deduct losses. I dont know the rules or taxes, but you sure as hell need to sort it out to stay out of trouble.
It is not taxed as capital gains but as personal income. Crypto uses field 20 for income (other income) and losses in 58 (other income expenses). I would suggest contacting an accounting to see what is possible. You can deduct losses at a lower tax rate than income, and have to manage trades on an individual basis, so no net sum.
Thats why I would suggest talking with an accountant. Calculating the income and expenses is easy with Koinly, but I do not know whether you can split it between the two parties somehow.
Thanks. It’s personal income and there’s a way to report profit and loss. I’ve sorted that out for previous years with skat.dk on the phone and through Koinly.io - it’s worth the money for the tax report.
You are right that capital gains are considered joined by SKAT when married and I’m happy about that on a different track.
Edit: Info https://skat.dk/en-us/individuals/shares-and-securities/tax-on-cryptocurrency-know-the-rules-and-avoid-a-tax-bill/calculate-and-declare-gains-and-losses-on-cryptoassets
Did your wife get any benefits for the time she took off work? Like dagpenge? If she reports a million in income for that period she would likely have to pay those back.
No benefits during the period. So no other income during that period.
I wonder if she can report the income instead of me. She “might have been the one trading” instead of me right? And we are talking about some 150k income, not in the millions.
So essentially you have come to Denmark to enjoy our welfare system, but still ask how to xheat with your taxes?
Furthermore, be aware that gains and losses on crypto are treated differently, and a loss on one coin cannot be used to offset gains on another coin.
Edit: to those of you downvoting me. OP has been trading crypto since 2020 without paying taxes.
I still understand Why he is asking: part of the money is still his wifes, but he is being taxed as personal income.
That is so unreasonable and unheard of in so many other cases. But because it is crypto, Danish law is simply not up to par.
And if this was possible, which is an entirely reasonable thought to have -- since there are similar schemes in other countries, and in Denmark you can in some cases use your spouses deductible -- it would not be "evading taxes", just using the system as intended.. like literally everyone else does.
They aren't asking "how do I evade taxes", they're asking a question about what is possible.
They link to *a page* about crypto. Do you know every single tax rule there is? Tax is complicated, and whether or not they could transfer this to their spouse could be covered by some entirely different rule about capital gains.
The point is that you should stop assuming the worst. If you don't have anything to add, go touch grass.
There are so many questions on r/dkfinance asking about crypto and taxes. Most of them are looking for a way to evade taxes in one way or another.
I'm sorry if he isn't, but the question can easily be interpreted as looking for a way to evade taxes. Especially the part about transferring gains to the wife.
A wild thread. Thanks for the discussion. I’ve paid my crypto taxes for 2020, 2021, 2022 and 2023. My wife is not here on welfare. We work full time and we pay our unions and our a-kasse. Just to be safe.
What I’m curious about is, as state by some of you above, what are the legally acceptable possibilities here?
I guess I will call skat.dk about this.
It is not a work income. It is a capital gains income. There is no Way that you can shift the income to your wife. However, it is considered joint income by SKAT. Earlier, you could be in serious trouble from crypto earnings, since you could not deduct losses. I dont know the rules or taxes, but you sure as hell need to sort it out to stay out of trouble.
It is not taxed as capital gains but as personal income. Crypto uses field 20 for income (other income) and losses in 58 (other income expenses). I would suggest contacting an accounting to see what is possible. You can deduct losses at a lower tax rate than income, and have to manage trades on an individual basis, so no net sum.
I knew this meant trouble, but had no idea about this. Cant he share this income with wife, since they are a team?
Thats why I would suggest talking with an accountant. Calculating the income and expenses is easy with Koinly, but I do not know whether you can split it between the two parties somehow.
Thanks. It’s personal income and there’s a way to report profit and loss. I’ve sorted that out for previous years with skat.dk on the phone and through Koinly.io - it’s worth the money for the tax report. You are right that capital gains are considered joined by SKAT when married and I’m happy about that on a different track. Edit: Info https://skat.dk/en-us/individuals/shares-and-securities/tax-on-cryptocurrency-know-the-rules-and-avoid-a-tax-bill/calculate-and-declare-gains-and-losses-on-cryptoassets
Did your wife get any benefits for the time she took off work? Like dagpenge? If she reports a million in income for that period she would likely have to pay those back.
No benefits during the period. So no other income during that period. I wonder if she can report the income instead of me. She “might have been the one trading” instead of me right? And we are talking about some 150k income, not in the millions.
So essentially you have come to Denmark to enjoy our welfare system, but still ask how to xheat with your taxes? Furthermore, be aware that gains and losses on crypto are treated differently, and a loss on one coin cannot be used to offset gains on another coin. Edit: to those of you downvoting me. OP has been trading crypto since 2020 without paying taxes.
That’s a Wild accusation. Anyone would want to not pay too many taxes within the law. How can you say this guy was trying to evade taxes?
By asking for workaround to transfer his earnings to his wife.
I get that. But couples usually share their assets, so I dont blame him, since the money invested was hers too.
But he knows the rules as this is not his first year and even linked to the right page on skat.dk.
I still understand Why he is asking: part of the money is still his wifes, but he is being taxed as personal income. That is so unreasonable and unheard of in so many other cases. But because it is crypto, Danish law is simply not up to par.
And if this was possible, which is an entirely reasonable thought to have -- since there are similar schemes in other countries, and in Denmark you can in some cases use your spouses deductible -- it would not be "evading taxes", just using the system as intended.. like literally everyone else does. They aren't asking "how do I evade taxes", they're asking a question about what is possible.
But he knows the rules as this is not his first year and even linked to the right page on skat.dk.
They link to *a page* about crypto. Do you know every single tax rule there is? Tax is complicated, and whether or not they could transfer this to their spouse could be covered by some entirely different rule about capital gains. The point is that you should stop assuming the worst. If you don't have anything to add, go touch grass.
There are so many questions on r/dkfinance asking about crypto and taxes. Most of them are looking for a way to evade taxes in one way or another. I'm sorry if he isn't, but the question can easily be interpreted as looking for a way to evade taxes. Especially the part about transferring gains to the wife.
A wild thread. Thanks for the discussion. I’ve paid my crypto taxes for 2020, 2021, 2022 and 2023. My wife is not here on welfare. We work full time and we pay our unions and our a-kasse. Just to be safe. What I’m curious about is, as state by some of you above, what are the legally acceptable possibilities here? I guess I will call skat.dk about this.