Realization of gains.
Taxes are paid on profits and losses can be deducted. If you have traded, sold or exchanged cryptocurrency you must report it to the Swedish Tax Agency.
Statement of the Swedish Tax Agency
Included in the annual personal income tax return.
What is the tax category?
There are potentially three types of taxes that you need to consider every year you declare taxes on crypto in Sweden. The most common form is capital gains tax where 30% of the profits are paid in taxes. The gains are calculated using the sale price less the cost basis. The other two types of taxes are income tax and interest income tax.
- Capital Gains Tax
- Income tax
- Interest Income Tax (Ränteinkomst)
Buy Crypto / Buy Crypto with Fiat
There are no taxes involved when buying crypto. However, you need to ensure that you keep track of the price you paid for it to be added to your average cost basis. If you purchased the crypto in a foreign currency (not SEK) make sure to convert it to the value in local currency on that day.
Sell Crypto / Sell Crypto for Fiat
Selling cryptocurrency will always require you to declare capital gains tax whether it's at a profit or loss. Once again, it's important to calculate the selling price in local currency at the time of sale.
When selling crypto you can subtract the trading fee from the sale price, this will help reduce your taxes again.
Trade Crypto for Crypto
In Sweden trading crypto for crypto is a capital gains tax event. You must pay capital gains on the cryptocurrency you sold. The value is based on the cryptocurrency that you sold it for, in your local currency. For example, if you sold 1 Bitcoin for 10 Ethereum, then the selling price is the value of 10 ETH in Swedish crowns.
Finally, you need to account for the cost basis of the Ethereum that you purchased. This is the same as the value above, 10 ETH in Swedish crowns on the day of the trade.
Disclaimer: This is not a legal, tax, accounting or investment advice. It is general information which should only be used for introduction purposes. You should consult with a tax/legal specialist.