Have you invested in the stock market or crypto? Lack of PIT-8C does not exempt you from paying tax
The lack of a tax form does not mean there is no obligation to settle. In the case of investments, especially foreign ones and cryptocurrencies, the taxpayer must independently determine the income and report it in PIT-38.
Income from stock investments, foreign platforms or cryptocurrencies must be settled independently, even if the investor does not receive any tax form. In practice, it is the lack of knowledge about settlement rules and errors in transaction records that most often lead to problems with the tax office.
PIT-38 for 2025
In the case of income from the capital market, the key form is PIT-38. This is where you should demonstrate, among other things, profits from the sale of shares, ETFs, exchange bonds or derivatives.
– First of all, investors should remember that we settle income from the capital market ourselves, and the basic form is PIT-38. This includes, among others: sale of shares, ETFs, listed bonds or derivatives such as CFDs or options – says Jacek Dziuba, an expert in financial management and tax and financial law.
The tax base is income, i.e. the difference between revenue and the costs of obtaining it. The costs include not only the purchase price of the assets, but also brokerage commissions.
– It is crucial to correctly determine income, i.e. the difference between income and the costs of obtaining it, including, for example, the purchase price and brokerage commissions. There is a 19% tax rate, the so-called Belka's tax – emphasizes the expert.
Settlement of losses up to 5 years ago
However, investment settlement is not limited to a simple statement of income and costs. There are several rules that can significantly affect your tax rate.
– It is also worth remembering a few important rules. We can settle losses from previous years for up to 5 years, a maximum of 50%. annually, we use the FIFO method when selling securities, and in the case of foreign investments we have to convert the values according to the NBP exchange rate from the day preceding the transaction – points out Jacek Dziuba.
The expert also draws attention to the moment when the tax obligation arises, which already occurs at the time of sale of assets. “Even if the funds have not yet been transferred to the bank account,” he adds.
Lack of PIT-8C does not exempt you from settlement
Many investors assume that since they have not received the PIT-8C form, they are not obliged to report income. This is one of the most common mistakes.
The investor will not always receive the PIT-8C form and it is worth stating clearly: its absence does not exempt you from the obligation to settle income – he emphasizes Jacek Dziuba.
This applies primarily to investments made through foreign brokers, platforms outside the European Union or the cryptocurrency market.
– This most often applies to situations in which we use foreign brokers, investment platforms from outside the EU or invest in cryptocurrencies. Crypto exchanges generally do not issue PIT returns. The same applies to transactions peer-to-peer or outside organized trading – explains the interlocutor.
In such cases, the entire burden of settlement rests with the investor.
– In such cases, it is the investor's responsibility to collect transaction history, convert currencies, determine revenues and costs and report them in PIT-38. It's more work, but tax liability always rests with the taxpayerregardless of whether he received any form – he emphasizes.
Cryptocurrencies with separate rules
Special rules apply to the settlement of cryptocurrencies. Although they are also reported in PIT-38, they have a separate method of determining income.
– The key thing is that taxation is subject to the moment of “exit” to a fiat currency, e.g. PLN or EUR, or payment in cryptocurrency for a good or service. Crypto-to-crypto conversion itself does not result in tax liability – explains Jacek Dziuba.
Income is calculated as the difference between revenue and acquisition costs, and unused costs can be carried forward to subsequent years. However, you cannot combine losses from cryptocurrencies with income from other investments, e.g. from the stock exchange.
However, you must remember that it is not possible to combine losses from cryptocurrencies with income from other capital instrumentse.g. shares – emphasizes the expert.
The most common mistakes of investors
According to Jacek Dziuba the most common mistakes are the lack of full transaction records, omitting costs such as commissions, and incorrect settlement of crypto-to-crypto exchanges. Missing documentation can have serious consequences, especially in the event of an audit.
– This is an area that may cause problems during a possible inspection, so it is worth ensuring accurate documentation from the very beginning – he adds.
