Capital gains and losses arising from the transfer or exchange of virtual currencies

Capital gains or losses arising from the transfer or exchange of virtual currencies for money or other virtual currencies will be included. For the purposes of completion:

1. It will indicate the denomination of the virtual currency and the type of compensation received, indicating the appropriate option in the drop-down menu.

2. Capital gains or losses will be calculated independently for each sale transaction of each type of currency.

   • The capital gain or loss arising from the transfer of virtual currencies in exchange for euros or other legal tender will be determined by the difference between the transfer and acquisition value.

   • The exchange of a virtual currency for another different virtual currency constitutes a barter and will generate a capital gain or loss for the difference between:

     • the transmission value which will be the greatest of: the market value of the good received or the market value of the good delivered.

       The market value is the value that would correspond to the price agreed for sale between independent subjects at the time of the exchange.

       The transmission value thus determined will be the acquisition value of the virtual currencies for the purposes of subsequent transmissions.

     • the acquisition value of the delivered good.

   Expenses arising from acquisitions and sales, provided they are directly related to them and are paid by the taxpayer, will be computed to determine the respective acquisition and transfer values.

3. In the case of homogeneous virtual currencies, if partial sales are made at different times, those that are transferred will be considered to be those acquired first (even if the purchases and transfers were made at different exchange houses).

4. The imputation will be carried out, as a general rule, in the year in which the currency is delivered under the purchase and sale contract, regardless of the time at which the sale price is received, unless it is a installment or deferred price transaction and it is decided to proportionally impute the income obtained in such transactions as the corresponding payments become due.

   In this case, clicking on the icon "More info" will open a window displaying the number of years of pending collection, the last year of collection, the years in which the profit will be imputed, the amount to be received in each year and the profits pending imputation.

5. The bankruptcy of a virtual currency buying and selling platform or the complaint for the non-return of deposited currencies does not automatically constitute a capital loss as the creditor maintains his right to credit; the imputation of the loss will be carried out in accordance with the provisions for overdue and uncollected credits.

6. In the event that the amount of any transfer is intended to establish a life annuity insured within the terms and conditions established in the regulations, you must enter the requested data in the corresponding data capture window.

   When you have reinvested in life annuities the total or partial amount obtained from one or all of the transfers made in the year, clicking on the icon "More info" will open a window in which the information regarding the exemption for reinvestment in life annuities corresponding to the gains to which it has been applied will be displayed.