Who Needs to File for Cryptocurrency Taxes
Any individuals are obligated who realize capital gains from disposals, including traders who sell virtual coins for fiat, use digital cash to pay for goods or services, or exchange one for another (like Doge for ETH), if appreciated value was taken, no matter how small or whether incurred on foreign platforms. They are subject to reporting, and the profit to be paid on is calculated as the difference between the disposal value and acquisition cost.
It is important to note that holding digital money is free, as is receiving it in gift form or through inheritance. Similarly, mining or staking generates no immediate reporting unless the coin is subsequently sold or exchanged. Filing is therefore tied not to possession but to realized increases, ensuring that the obligation to pay the KAS is assessed only when value is actually converted into spendable or transferable assets. This makes it the central tool for reporting asset appreciation to the KAS crypto authorities.
Preparing to File Cryptocurrency Taxes
Before filling out the cryptocurrency tax form, traders should gather all the records necessary to accurately report wins and drops. Essential documents and information include:
- Dates and amounts of all acquisitions
- Cost basis for each acquisition, including purchase price and transaction fees
- Dates and values of all disposals or sales
- Exchange statements from all platforms used, including foreign exchanges
- Invoices, e-invoicing, or receipts for trading commissions, platform fees, or network fees
- Records of prior-year costs if they were not deducted previously
- Documentation of partial disposals or transfers to ensure proper allocation of cost basis
For traders using multiple platforms, it is important to consolidate all transaction histories so that every disposal is included in the annual settlement. Proper record-keeping ensures accurate calculation of the 19% capital gains, allows for correct application of deductions, and provides a clear audit trail for crypto KAS verification. Without complete and organized records, it can be difficult to justify cost basis, carry forward losses, or properly calculate appreciations, which could increase payment liability or trigger compliance issues.
Cryptocurrency Settlement Easing Sales
Begin PIT 38 cryptocurrency reporting by summing all wins and losses from disposals. Appreciations are calculated as the difference between the disposal value and your cost basis, which includes the purchase price and any directly related transaction fees. If you sold only part of a holding, the gain must be calculated proportionally based on the portion disposed of. For assets acquired at different prices (a mixed cost basis), calculate profits for each portion individually to ensure accurate reporting.
After determining your total gains and losses, apply the flat 19% Bitcoin tax rate to the net takeaway. If your losses exceed gains for the year, no money is due, but these losses may be carried forward to offset wins in future years.
Deductions
Only direct fees for acquiring or disposing of coin can lower the revenue liable for duties. This includes trading fees, platform commissions, and transaction costs. Other expenses, such as business overhead, electricity for mining, hardware, or general investment tools, are not deductible. Properly recording and deducting eligible fees lowers your sum debt and ensures compliance with crypto KAS rules, while minimizing your 19% liability.
Diversifying with Crowdlending
For traders looking to balance the volatility with more predictable returns, 8lends offers a structured crowdlending platform. Investors can fund loans to credit-worthy borrowers who were unable to access traditional bank financing. Each loan is typically funded by multiple investors, spreading both risk and expenses across the platform.
Using a sophisticated credit-scoring system based on leading credit agencies, 8lends helps ensure borrowers are reliable while offering investors attractive interest rates. Crowdlending with 8lends can complement your portfolio, providing steady revenue streams while you manage your PIT 38 cryptocurrency filings and obligations.
Real-Life PIT 38 Cryptocurrencies Returns
Let’s take an arithmetic look at people who’ve filed their own KAS crypto forms in the past.
Adam
Adam is 29 and works full-time as a UX designer in Warsaw. He trades crypto occasionally, buying and selling Bitcoin and Ethereum a few times per year through a Polish exchange. In 2024, he sold 52 thousand zlotys worth of virtual cash, while his total purchase costs and trading fees amounted to 44,000 zloty. This leaves him with an 8,000 PLN gain. As a Polish resident, Adam must report this in PIT-38 even though crypto is only a side activity.
He enters revenue in field 34, costs in field 35, and the resulting profit in field 36, which leads to a 19% tax of 1,520 zloty shown in field 38. His employment income is reported separately and does not affect his crypto settlement.
Marta
Marta operates a sole proprietorship in Kraków, providing blockchain analytics and advisory services. Some clients pay her in stablecoins, and she also trades actively. During the year, she disposed of 180 thousand worth, while her documented acquisition costs and exchange fees totaled 140 thousand. This results in an enrichment of 40K PLN subject to fiscal obligation and debt of 7,600 PLN to the KAS.
Even though she runs a business, Polish rules still require disposals to be reported separately from business income, meaning she cannot deduct office rent, software subscriptions, or marketing costs against gains. Only direct acquisition and transaction costs count.
Daniel
Daniel moved from Argentina to Wrocław in March 2024, rented an apartment, and stayed in Poland for more than 183 days, making him a Polish resident. Later that year, he sold virtual cash he had purchased years earlier, receiving 70K PLN, with an original cost of 50K.
Daniel reports 70K as revenue and 50K as costs, resulting in a 20K PLN profit and owing 3,800 PLN. Had he sold the assets before establishing Polish tax residency, the transaction would generally have fallen outside Poland’s tax scope.
Kasia
Kasia is a 41-year-old grocery store clerk living in Gdańsk who bought several types of virtual coins during the 2021 bull market and sold part of her portfolio at a loss in 2022. She properly reported a 30K PLN loss in her PIT-38 that year. In 2024, she finally sold some remaining holdings for 95,000, with documented sum acquisition costs of 70,000 zloty, giving her a 25,000-zloty profit.
Because Polish rules allow losses to be carried forward indefinitely, Kasia can apply part of her earlier loss to offset this gain. She enters the 25K profit for the year, then deducts it using her carried-forward losses, reducing her taxable base to zero. The remaining 5,000 of unused losses can still be carried forward to future years, meaning she owes nothing for 2024.
Risks and Penalties from KAS Crypto Disputes
Returns must be filed between February 15 and April 30, but crypto tax forms can always be edited later if you goofed up. The Polish KAS closely monitors cryptocurrency transactions, and more so large, frequent, or suspicious ones. Those who get charged and are fined 75% of what they neglected to pay, or have their account frozen, can still use the active repentance procedure.
By submitting a corrected return along with an explanation, they can often avoid criminal liability while regularizing their payment obligations. This makes prompt disclosure a key step in mitigating potential penalties.
Final Thoughts
Filing PIT-38 correctly is essential for traders in Poland to stay compliant with crypto KAS and ensure that all gains, losses, and deductible fees are properly accounted for. By carefully calculating your taxable income, applying the 19% profit tax, and documenting eligible deductions like trading and platform fees, you can minimize errors and make full use of losses carried forward from previous years.
For investors seeking to complement trading with a more structured and predictable income, 8lends offers a compelling option. Through its crowdlending platform, you can fund loans to credible borrowers, share risk across, and earn substantial interest rates. With a data-driven credit scoring system from leading agencies, 8lends provides transparency and reliability for your investments.
