How to report cryptocurrencies in the Italian tax declaration

If in 2024 you have conducted operations with cryptocurrencies—whether buying, selling, or transferring between wallets—the Italian Revenue Agency requires mandatory reporting. It doesn’t matter if the funds have not been withdrawn in fiat currency: the reporting obligation still exists and must be fulfilled.

The importance of the declaration

Italian regulations classify crypto assets as assets subject to tax tracking. Regardless of the amount moved, declaring them is an unavoidable obligation. Skipping this step exposes you to significant penalties from the tax authorities.

Operational procedures for completion

Access the online system: Log into the Revenue Agency portal using SPID credentials or an electronic identity card.

Locate the correct section: Navigate to “Assets and Rights,” then select Group 08 dedicated to Crypto Assets. Here you will find options to classify your holdings.

Classify digital currencies: Depending on the type held, indicate the corresponding code. The standard categories include Bitcoin (code 01), Altcoin (code 02), and Stablecoin (code 10).

Fill in the mandatory fields: For each crypto asset, enter:

• The total quantity held
• The specific identifier of the currency (for example BTC for Bitcoin)
• The acquisition cost expressed in euros (not the current market value)
• The name of the exchange platform where you conducted the operations

Assessment of the taxable base: The crucial data is the price paid at the time of purchase, not the current quote. This amount serves as the acquisition cost for the subsequent calculation of any capital gains.

The taxation threshold

Capital gains tax applies only in case of sale. If in a single calendar month you exceed the volume of 35,000 euros and realize a profit, then the tax obligation arises. Below this threshold, even though you must report the holdings, no income taxes are due.

Practical tools for completion

Access the transaction history of the platform used for trading. Most exchange services provide detailed exports of purchases, sales, and transfers. Use this data as supporting documentation to accurately fill in each required field.

Properly following these steps ensures regulatory compliance and peace of mind in managing your relationship with the tax authorities.