Bitcoin Tax Audit: What Proof Austria Requires
Bitcoin Tax Audit in Austria: What Proof the Tax Office Can Demand
Bitcoin transactions run over a blockchain - but the blockchain does not answer every tax question. It shows transfers between addresses, yet not automatically who owns a wallet, why a transaction took place, or which acquisition costs apply for tax purposes.
Anyone declaring larger bitcoin gains, or moving holdings across several exchanges and wallets, should therefore work with detailed documentation.
Acquisition costs matter most, because taxable realised gains are derived in principle from the difference between the sale proceeds and the tax cost base.
Purchase Records Are the Foundation
Where matters are unclear, the tax office may in particular want to trace:
- when the bitcoin was acquired,
- how many BTC were bought,
- at which euro price,
- through which platform,
- which fees arose,
- where the money used for the purchase came from.
- Suitable records can include, for example:
- exchange statements,
- CSV exports,
- bank account statements,
- purchase confirmations,
- tax reports.
- With long-held bitcoin in particular, the original purchase date can be decisive.
A Wallet Transfer Is Not Automatically a Sale
A transaction on the blockchain initially shows only that bitcoin moved from one address to another. When investors move bitcoin between their own wallets, they should therefore document that this really was a self-transfer and not a sale.
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