Field help:
(2023)
Did you have income from sales transactions (property, assets, cryptocurrencies, etc.?)
(Form SO, Part 2)
Did <%0100801%> have income from sales transactions (property, assets, cryptocurrencies, etc.?)
(Form SO, Part 2)
Select "yes" if you conducted private sales transactions in 2023.
Private sales transactions are
- Sales transactions for land and rights (subject to the provisions of Civil Property Law) for which the period between acquisition and sale does not exceed ten years.
- Sales transactions of other assets for which the period between acquisition and sale does not exceed one year. This also includes transactions with cryptocurrencies such as Bitcoin.
- Sales transactions in which the sale takes place earlier than the acquisition.
The acquisition also includes the transfer of an asset to private assets by withdrawal or termination of a business as well as by the application pursuant to sec. 21, para. 2, sentence 1, no. 1 of the Reorganisation Tax Act (Umwandlungssteuergesetz) in the version valid from 12 December 2006.
In the case of gratuitous acquirement (e.g. inheritance, gift), the acquisition is to be attributed to the legal successor by the legal predecessor for the purposes of this regulation.
There is no need to submit Form SO if you have not carried out any private sales transactions in the calendar year 2023 or if the profits from private sales transactions have amounted to less than 600 Euro in total, in the case of joint assessment less than 600 Euro for each spouse/life partner.
If you have made losses from private sales transactions within the above-mentioned time periods, you have to declare this income in your tax return.
Cryptocurrencies can also be part of a private sale transaction according to sect. 23 para. 1 no. 2 of the Income Tax Act (EStG). For transactions that take place in private assets, this means: Capital gains arising from the exchange or re-exchange of bitcoins, etc. into euros or another cryptocurrency are considered a taxable speculative transaction if the acquisition and exchange take place within one year. Profit remains tax-free (only) if it remains below the exemption limit of 600 Euro.
