How do I declare the Cryptonow gift card for tax purposes?
You own a Cryptonow gift card and want to ensure that you handle it correctly in your tax return? No problem, we'll guide you through the process and show you how to manage your cryptocurrency assets on the gift card in accordance with Swiss tax regulations.
Cryptocurrency as Assets
In Switzerland, cryptocurrency assets are generally considered as assets. This means that you must declare the value of your cryptocurrency assets on your Cryptonow gift card in the securities section of your tax return under "other assets."
For accurate reporting in your tax return, the value of your cryptocurrency assets at the end of the year is relevant. In many cases, year-end exchange rates are already digitally available and can be directly incorporated into your tax return. If this information is not available, you can find a list of values on the official website of the tax authorities.
To properly report your cryptocurrencies, it's important to keep track of your holdings. If you store cryptocurrencies in our Cryptonow wallet app online, you can check your balances directly in the app. If you keep your crypto balances on your Cryptonow gift card, you have the option to verify these values at any time using the wallet balance tool. Another option is to track your balance in the Cryptonow wallet app. This way, your cryptocurrency assets are securely stored offline in your Cryptonow wallet while you can monitor their performance with the Cryptonow wallet app.
With these steps, you can ensure that you manage your Cryptonow gift card in compliance with Swiss tax regulations and accurately include your cryptocurrency assets in your tax return.
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This article does not constitute investment advice or an invitation to buy or sell digital assets or other financial instruments or to engage in any other financial transaction. The main purpose of this article is to provide general information. No explicit or implicit representations or warranties are made regarding the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. Therefore, it is advisable not to rely on the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. It is possible that some statements in this article contain forward-looking expectations based on our current views and assumptions. These statements are subject to uncertainties and may result in actual results, performance, or events that differ from the statements made in this article.
The Cryptonow advisory or representing individuals cannot be held liable in any way for this article. It is important to note that investing in digital assets carries risks in addition to the potential gains.