Trying to calculate your crypto taxes in Sweden can be difficult. That's why it's important to prepare ahead for reporting your taxes. By taking the right steps to track your crypto transactions, you can save hours of time and effort during tax season.
In this guide, we’ll break down everything you need to know about how cryptocurrency is taxed in Sweden. By the time you’re finished reading, you’ll understand how you can report your transactions on your tax return in minutes.
Written by:
Miles Brooks
Reviewed by:
Jordan Bass
Our Editorial Standards:
Our content is designed to educate the 500,000+ crypto investors who use the CoinLedger platform. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn More
In Sweden, cryptocurrency is subject to capital gains tax, income tax, and interest income tax.
Capital gains tax: When you dispose of your cryptocurrency, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it. Examples include selling your crypto or trading it for another crypto.
Interest income tax: When you earn cryptocurrency interest, you’ll recognize income subject to interest income tax. Examples include earning crypto from staking or earning crypto interest from centralized exchanges.
Income tax: When you earn cryptocurrency as income, you’ll recognize income based on the fair market value of your crypto at the time of receipt. Examples include earning cryptocurrency from mining.
Are personal assets like cryptocurrency tax-free?
Personal assets like cryptocurrencies are subject to tax if one of the following conditions are true.
The asset is part of an individual’s business
The asset is acquired for speculative purposes
In most cases, investors acquire crypto-assets with the expectation of a future return. As a result, cryptocurrency is subject to income tax in the vast majority of cases.
If you believe that your crypto-assets don’t fall into the ‘speculative asset’ category, you must provide evidence that you acquired your crypto without the intention to make a future profit.
How much is cryptocurrency taxed?
How much are capital gains taxed in Sweden?
For most Swedish taxpayers, you’ll pay a flat 30% on capital gains from cryptocurrency and other assets.
How much is income taxed in Sweden?
In Sweden, taxpayers pay income tax based on their total income from cryptocurrency and other sources.
There are two types of income tax in Sweden.
National income tax
Municipal tax
What tax rate do I pay on income in Sweden?
National income tax only applies for taxpayers who have more than 540,700 kr in income for the year. Municipal income tax varies based on where you live in Sweden.
How much is interest income taxed in Sweden?
Like capital gains, interest income is taxed at a flat rate of 30%.
How do I calculate my crypto gains and losses?
When you dispose of cryptocurrency, you’ll incur a capital gain or loss depending on how its price changed since you originally received it.
You can use this formula to calculate your capital gains and losses.
Capital Gain/Capital Loss = Sales Price - Cost Basis
In this case, the Sales Price is the value of your cryptocurrency in Swedish kroner at the time of the disposal.
Meanwhile, your cost basis is what you paid to acquire your cryptocurrency, including any relevant exchange/blockchain fees.
To better understand how this works, let’s take a look at an example.
In cases where you do not know your original cost basis for your cryptocurrency, you should consider your cost basis to be ‘0’. However, this will lead to higher capital gains and a higher tax liability.
What is the deadline for reporting crypto tax in Sweden?
In Sweden, the tax year runs from January 1st to December 31st. You’ll be taxed based on your income and capital gains during this period.
The deadline for filing your tax return is May 2nd. You can request an extension to May 16th or May 31st.
What happens if I don’t report my crypto taxes?
If you don’t report your taxes on time, you’ll be charged interest on your tax payment until the due date on your final tax return.
If you have tax arrears of more than 30,000 kr, you’ll get charged interest starting from February 14.
If you have tax arrears of less than 30,000 kr, you’ll get charged interest from May 4.
If you don’t pay your arrears by the date specified on your final tax statement, the interest on your tax payment rises from 2.5% to 17.5%.
What accounting method should I use to calculate my capital gains?
If you bought the same crypto-asset at multiple price points, you can use the Average Cost Basis (ACB) method to calculate your cost basis. Essentially, your cost basis for your cryptocurrency is your average cost for acquiring that cryptocurrency.
Can Skatteverket track my cryptocurrency?
Because crypto transactions are pseudo-anonymous, many investors assume that evading taxes through cryptocurrency is easy.
In addition, it’s important to remember that transactions on blockchains like Bitcoin and Ethereum are publicly visible and permanent. Tax agencies around the world use data matching to match anonymous wallets to known individuals.
Non-taxable crypto transactions
The following cryptocurrency transactions are considered non-taxable in Sweden.
Buying cryptocurrency
Holding cryptocurrency
Transferring crypto between wallets you own
Giving a cryptocurrency gift
Donating cryptocurrency
TAX FREE
How is buying cryptocurrency taxed in Sweden?
Buying cryptocurrency with fiat currency like the Danish kroner is considered tax-free.
However, you should keep careful records of your cryptocurrency purchases so that you can calculate your gains and losses in the case of a future disposal.
CAPITAL GAINS TAX
How is selling cryptocurrency taxed in Sweden?
When you sell cryptocurrency, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it.
CAPITAL GAINS TAX
How are crypto-to-crypto trades taxed in Sweden?
When you trade crypto for another cryptocurrency, you’ll incur a capital gain or loss depending on how the price of the crypto you’re trading away has changed since you originally received it.
CAPITAL GAINS TAX
How is purchasing goods and services with crypto taxed in Sweden?
Buying goods and services with crypto is considered a taxable disposal. You’ll incur a capital gain or loss depending on how the price of the crypto you’re trading away has changed since you originally received it.
TAX DEDUCTIBLE
How are cryptocurrency losses taxed in Sweden?
Selling cryptocurrency at a loss comes with tax benefits.
70% of the value of your capital loss can be used to offset gains from cryptocurrency, stocks, and other assets.
TAX FREE
How are crypto gifts taxed in Sweden?
Sweden’s gift tax was removed in 2005. As a result, giving and receiving cryptocurrency gifts are tax-free.
TAX FREE
How is donating cryptocurrency taxed in Sweden?
While cryptocurrency donations do not trigger a capital gains event, they are not tax-deductible. In Sweden, only fiat currency donations are considered tax-deductible.
INCOME TAX
How is getting paid in cryptocurrency taxed in Sweden?
When you receive cryptocurrency in compensation for your labour, you’ll recognize income based on the fair market value of your crypto at the time of receipt.
INCOME TAX
How are crypto referral rewards taxed in Sweden?
It’s likely that you’ll pay income tax in cases where you earn cryptocurrency rewards for referring a friend to a platform. Because you are taking action to receive a reward, it’s reasonable to assume that your earnings will be considered income at the time of receipt.
Income Tax
Capital Gains Tax
How is crypto mining taxed in Sweden?
If you mine cryptocurrency as a hobby, you’ll recognize income subject to income tax based on the fair market value of your crypto at the time of receipt.
If you dispose of your mining rewards in the future, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it.
INTEREST INCOME TAX
Capital Gains Tax
How is crypto staking taxed in Sweden?
Crypto earned from staking is likely subject to interest income tax based on the fair market value of your rewards at the time of receipt.
It’s reasonable to assume that staking your cryptocurrency with a PoS blockchain or a DeFi protocol is considered equivalent to ‘loaning’ your cryptocurrency. Traditionally, income from loans is subject to interest income tax.
If you dispose of your staking rewards in the future, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it.
INCOME TAX
How is crypto interest taxed in Sweden?
If you’ve earned cryptocurrency interest from a centralized exchange, you’ll pay interest income tax based on the fair market value of your crypto at the time of receipt.
Income Tax
Capital Gains Tax
How are crypto airdrops taxed in Sweden?
At this time, Skatteverket has not provided guidance on how cryptocurrency airdrops are taxed.
It’s possible that Sweden will take a similar approach to other European countries and tax airdrops as income only if the user has taken action to receive the airdrop — for example, promoting the airdrop on social media.
In cases where the user did not take action to receive the airdrop, it’s likely that airdrops will not be subject to income tax. Instead, airdrop rewards will be taxed upon disposal as a capital gain with a cost basis of 0.
Income Tax
Capital Gains Tax
How are NFTs taxed in Sweden?
NFTs are taxed similarly to cryptocurrencies. When you sell an NFT, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it.
Buying an NFT with cryptocurrency is considered a crypto-to-crypto swap. You’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it.
In contrast, buying an NFT with fiat currency is not considered a taxable event.
If you are creating your own NFTs, you’ll pay income tax based on the revenue from your sales.
What records should I keep of my crypto transactions?
It’s important to keep careful records of your cryptocurrency transactions to keep track of your gains, losses, and income for the year. In addition, having records of your transactions will help you in case of a future audit by Skatteverket. These records should include:
Type of transaction
The cryptocurrency involved in the transaction
Date of transaction
The amount of crypto involved in the transaction
The fair market value of the crypto at the time of transaction
Exchange records and other relevant statements
Your wallet address (es)
Looking for an easy way to keep track of your cryptocurrency transactions? CoinLedger can help. Connect your wallets and exchanges and the platform will keep a complete record of your gains, losses and income.
How to report cryptocurrency on the K4 Tax Form
All your cryptocurrency gains and losses should be reported on Section D of the K4 Tax Form. You will need to fill the following columns:
Antal/Belopp i utländsk valuta: The amount of cryptocurrency disposed of (ex. .5 BTC)
Beteckning/Valutakod: The type of cryptocurrency (BTC, ETH, etc.)
Försäljningspris: Your sales price for disposing of your cryptocurrency
Omkostnadsbelopp: The cost basis for acquiring your cryptocurrency
Vinst: Total gain for each individual crypto-asset
Förlust: Total loss for each individual crypto-asset
Why is it so difficult to accurately report cryptocurrency transactions?
Tracking your cryptocurrency transactions can be difficult because of cryptocurrency’s unique properties.
If you’ve transferred your cryptocurrency between different wallets and exchanges, it can be difficult to track your cost basis and your capital gains and losses across all of your wallets. That makes it important to keep accurate records of your transactions.
How to report your crypto taxes
There are two methods for reporting your crypto taxes: manually and automatically.
How to report your cryptocurrency manually
Here’s how you can report your cryptocurrency taxes manually.
Find the original cost basis for each one of your cryptocurrency disposals.
Find the sales price and resulting capital gain/loss for each one of your cryptocurrency disposals
Calculate your crypto income by determining the fair market value of the cryptocurrency you’ve earned during the year
This process can be difficult if you haven’t kept records of your cryptocurrency transactions, or you’ve transferred your cryptocurrency between different wallets and exchanges.
Luckily, there’s an easier way. Crypto tax software like CoinLedger can help you generate a complete tax report in minutes.
How to report your cryptocurrency taxes automatically
CoinLedger can help you keep track of your capital gains, losses, and income in just three simple steps.
Step 1: Import your transactions from your exchanges and wallets.
Step 2: Watch the platform calculate your income and capital gains.
Looking to take the stress out of your tax season? More than 500,000 investors around the world use CoinLedger to calculate their gains, losses, and income in minutes.
CoinLedger has strict sourcing guidelines for our content. Our content is based on direct interviews with tax experts, guidance from tax agencies, and articles from reputable news outlets.
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