Current on the date: November 2024
This guide will help you to fill out your tax return correctly (on the 3-personal income tax form) when trading cryptocurrencies along the transaction chain: RUB → USDT → BTC → 2x USDT → RUB. We will take a detailed look at each step of the process, taking into account the latest changes in the legislation of the Russian Federation.
Content
Introduction
Step 1: Collect the necessary data and documents
Step 2: Calculating income and expenses
Step 3: Calculation of the tax base and the amount of tax
Step 4: Filling out the tax return (Form 3-Personal income tax)
Step 5: Preparation of supporting documents
Step 6: Filing a declaration with the tax authority
Additional recommendations
Conclusion
Introduction
Since 2021, the Russian Federation has increased its attention to the regulation of transactions with cryptocurrencies. According to the Tax Code of the Russian Federation, income from transactions with digital financial assets (cryptocurrencies) is subject to taxation. This guide will help you to correctly reflect your cryptocurrency transactions in your tax return and avoid possible fines and sanctions.
Step 1: Collect the necessary data and documents
The first step is to collect all the information and documents related to your cryptocurrency transactions.
1.1. Statements and reports from exchanges and wallets
Confirmations of the purchase and sale of cryptocurrencies: statements from exchanges, screenshots, emails and other documents confirming transactions.
Transaction history: full details of all transactions for the reporting period.
Exchange differences: data on the exchange rates of cryptocurrencies to the ruble at the time of each transaction.
1.2. Bank documents
Bank account statements: confirm the deposit and withdrawal of funds.
Receipts and payment orders: when transferring funds to or withdrawing from the exchange.
1.3. Additional documents
Contracts and agreements: if they were concluded with exchanges or other counterparties.
Documents confirming expenses: commissions of exchanges, payment systems and other related expenses.
Step 2: Calculating income and expenses
At this stage, it is necessary to determine the amount of income and expenses for calculating the tax base.
2.1. Determination of the purchase price (expenses)
Purchase of USDT for RUB:
Fix the amount in rubles spent on the purchase of USDT.
Take into account the commissions and related costs.
Buying BTC for USDT:
Convert the value of BTC into rubles at the rate of USDT/RUB at the time of purchase.
Take into account the official exchange rate of the Central Bank of the Russian Federation, if USDT is not recognized as an official currency.
2.2. Determination of the cost of sales (income)
Selling BTC for USDT:
Calculate the amount in rubles received from the sale of BTC using the USDT/RUB exchange rate at the time of sale.
Exchange of USDT to RUB:
Fix the amount in rubles received when converting USDT to RUB.
Take into account commissions and other expenses when withdrawing funds.
2.3. Calculation of the financial result
Profit or loss is defined as the difference between income and expenses:
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Financial result = Amount of income - Amount of expenses
If the result is positive, it is a taxable profit. If negative— it is a loss that can be taken into account in the following tax periods.
Step 3: Calculation of the tax base and the amount of tax
3.1. Determination of the tax base
The tax base is the amount of profit earned from transactions with cryptocurrencies.
Calculation example:
Expenses: 100,000 RUB (purchase of USDT and then BTC).
Income: 200,000 RUB (sale of BTC and exchange of USDT for RUB).
Tax base: 200,000 RUB - 100,000 RUB = 100,000 RUB.
3.2. Calculation of the tax amount
The tax rate for residents of the Russian Federation is 13%.
The amount of tax:
Tax amount = Tax base × 13%
Example:
Tax amount = 100,000 RUB × 13% = 13,000 RUB
Step 4: Filling out the tax return (Form 3-Personal income tax)
4.1. Receipt of the 3-Personal income tax form
The form is available on the official website of the Federal Tax Service of the Russian Federation or in the taxpayer's personal account.
4.2. General information
Section 1: Specify your personal data (TIN, full name, passport data).
Section 2: Mark the status of the taxpayer (resident of the Russian Federation).
4.3. Filling in the income section
4.3.1. List A: Income from sources in the Russian Federation
If the transactions were conducted on the Russian stock exchange, the income is reflected here.
Specify:
The date of receipt of income.
The source of income payment (the name of the exchange or counterparty).
The amount of income in rubles.
The amount of expenses (the cost of acquiring cryptocurrency).
4.3.2. List D: Income from sources outside the Russian Federation
If the transactions were carried out on foreign exchanges.
Similarly to sheet A, specify income and expenses.
4.4. Calculation of the tax base
Section 2: Calculation of the tax base and the amount of tax.
Transfer the income and expense data from the corresponding sheets.
Calculate the tax base and the amount of tax payable.
4.5. Application for tax deductions
If you are eligible for tax deductions (for example, standard or social), reflect them in the appropriate sections.
4.6. Verification and confirmation of data
Check all the entered data for correctness.
Make sure that the amounts of income, expenses and tax are calculated correctly.
Step 5: Preparation of supporting documents
Documents confirming the specified income and expenses must be attached to the declaration.
5.1. List of required documents
Statements from exchanges and wallets: confirm the purchase and sale of cryptocurrencies.
Bank statements: confirm the deposit and withdrawal of funds.
Documents on exchange differences: official exchange rates on the dates of transactions (you can use data from the Central Bank of the Russian Federation).
Copies of contracts and agreements: if they were concluded.
5.2. Preparation of copies and originals
Prepare copies of all documents.
Keep the originals with you in case of verification.
Step 6: Filing a declaration with the tax authority
6.1. Submission methods
In person: visit the tax office at the place of registration.
Through the taxpayer's personal account: upload the declaration and scans of documents.
By mail: send by registered mail with an inventory of the attachment.
6.2. Deadlines for filing and paying taxes
The deadline for submitting the declaration is until April 30 of the year following the reporting year.
The deadline for paying the tax is until July 15 of the year following the reporting year.
6.3. Receiving confirmation
After submitting the declaration, you will receive confirmation of its acceptance.
Keep track of the status of the declaration verification through your personal account or by calling the tax inspectorate.
Additional recommendations
7.1. Consultation with a tax consultant
If you have difficulties or doubts, it is recommended to contact a qualified tax consultant.
7.2. Accounting
Keep regular records of all your transactions with cryptocurrencies.
Use specialized programs or services to track transactions and exchange rate differences.
7.3. Tracking changes in legislation
Legislation in the field of cryptocurrencies is changing dynamically.
Follow the news and official reports of the Federal Tax Service of the Russian Federation.
Conclusion
Correct and timely completion of the tax return for transactions with cryptocurrencies is the key to your financial security and confidence. Following this guide, you will be able to prepare and submit a declaration yourself, taking into account all the requirements of the legislation of the Russian Federation for 2024.
Important: This guide is for informational purposes only. For personal recommendations and consideration of individual circumstances, contact a professional tax consultant