How to Declare Bitcoin on the Spanish Tax Return 2025
Declaring Bitcoin is no longer optional. Since the AEAT began cross-referencing massive exchange data in 2021 and implemented Models 172 and 173, thousands of taxpayers have received notices for failing to declare their cryptocurrency transactions. This guide explains exactly how to do it.
When Is Bitcoin Taxable?
Bitcoin generates a taxable event —and therefore a declaration obligation— in the following scenarios:
- Sale of BTC for euros on an exchange or between individuals.
- Exchange of BTC for another cryptocurrency (BTC → ETH, for example). The AEAT equates this to a transfer, generating a gain or loss at the time of the swap.
- Payment for goods or services with BTC. This is considered a transfer at the market price at that moment.
- Staking or mining rewards paid in BTC. These are taxed as investment income at the time they are received.
Transfers between your own wallets (e.g., from your exchange to your personal wallet) are not taxable as long as they are properly documented.
Calculation Method: Mandatory FIFO
The DGT confirmed in binding consultation V0999-18 that the cost allocation method for cryptocurrencies is FIFO (First In, First Out): the first units purchased are the first considered sold.
Practical Example
| Purchase | Date | Quantity | Unit Price |
|---|---|---|---|
| Lot 1 | Jan-22 | 0.5 BTC | €40,000 |
| Lot 2 | Mar-23 | 0.3 BTC | €25,000 |
If you sell 0.5 BTC in December 2024 at €65,000:
- Acquisition cost (Lot 1): 0.5 × €40,000 = €20,000
- Sale value: 0.5 × €65,000 = €32,500
- Capital gain: €12,500
Where to Declare in the IRPF?
Capital gains and losses derived from cryptocurrencies are included in the Savings Tax Base (Article 46 LIRPF).
The relevant boxes in the form are:
- Box 1626 — Cryptocurrency transfer (gain)
- Box 1627 — Cryptocurrency transfer (loss)
- Box 0029 — Compensation for losses from previous years
Applicable Tax Rates (2025)
| Taxable Savings Base | Rate |
|---|---|
| Up to €6,000 | 19% |
| From €6,000 to €50,000 | 21% |
| From €50,000 to €200,000 | 23% |
| From €200,000 to €300,000 | 27% |
| Over €300,000 | 28% |
Fees Also Matter
Purchase fees increase the acquisition cost (reducing future gains), and sales fees reduce the sale value (reducing current gains). Always keep detailed records of each transaction.
Consequences of Not Declaring
The AEAT may impose:
- Minor penalty: 50-100% of the undeclared amount if there is no concealment.
- Serious penalty: Up to 150% if false data is provided.
- Surcharge for late filing: 10-20% if filed late but before a notice is issued.
Additionally, since 2023, exchanges based in the EU automatically report balances and transactions to the AEAT through DAC8.
Conclusion
Declaring Bitcoin requires maintaining an organized record of all your transactions, correctly applying FIFO, and transferring the results to the correct boxes in the IRPF. A tax calculation tool can automate this entire process and generate a report ready to copy into your tax return draft.