🧾 Introduction
Not every crypto trade results in a profit — and that's okay. Polish tax law allows you to declare investment losses from cryptocurrencies under PIT-38, which can reduce your future tax burden.
This article explains how to properly report a crypto loss, how it affects your PIT-38 declaration, and how to use it in future years.
💡 When You Can Report a Loss
You can declare a loss when your total costs exceed your income from cryptocurrency sales in a given tax year.
For example:
- You bought crypto worth 50,000 PLN but sold it for 40,000 PLN.
- Your loss is 10,000 PLN.
This amount is recorded in PIT-38 and can be carried forward to reduce future gains.
🧮 Example: Calculating a Crypto Loss
| Date | Event | Amount (EUR) | Rate | PLN |
|---|---|---|---|---|
| 1 Jan 2024 | Buy 1 BTC | €35,000 | 4.40 | 154,000 |
| 1 Jul 2024 | Sell 1 BTC | €30,000 | 4.45 | 133,500 |
Income = 133,500 PLN
Cost = 154,000 PLN
Loss = 20,500 PLN
No tax is due in this year — but this loss is important to declare.
🧾 How to Declare in PIT-38
In the PIT-38 form:
| Field | Description | PLN |
|---|---|---|
| 22 | Income | 133,500 |
| 23 | Costs | 154,000 |
| 27 | Loss | 20,500 |
This ensures that the tax office registers your loss for future use.
💱 What Happens Next Year?
You cannot get a refund for a loss, but you can offset it against future crypto or investment gains.
For example:
- 2024 → loss of 20,500 PLN
- 2025 → profit of 10,000 PLN
You can deduct part of the loss, lowering your taxable income.
⚠️ Important Rules
- You can only offset losses from the same category — crypto losses only reduce crypto gains.
- You can deduct up to 50% of the loss in the following year.
- Losses can be carried forward for 5 years.
✅ Summary
| Year | Result | Tax effect |
|---|---|---|
| 2024 | −20,500 PLN (loss) | No tax due |
| 2025 | +10,000 PLN (gain) | Offset 5,000 PLN (50%) → taxed on 5,000 PLN |
By properly declaring your losses now, you'll save money when you eventually earn profits from crypto in future years.