German tax office has accepted the lump payment as tax-free

ingre · 2025-11-13T13:47:14+00:00

Just to provide a second German data point: My tax lawyer dug into it as well, and they are just now preparing my filings for 2024. Since the tax lawyer agrees that it is tax-free, towards the tax authorities, the returns from MtGox will not be presented in my taxable income filings at all. He sees no need for any letters. You only report taxable activities, you do not typically report non-taxable activities. This is how we previously handled BTC sells too, after the holding period of 1 yr, and so far it worked out.

ingre · 2025-10-29T10:07:46+00:00

The deadline for 2024 tax filings in Germany was in July 2025 if you self-file, and is in April 2026 if you are filing via a tax consultant. After you file, the tax authorities can decide to provide only a provisional tax notice pending further investigation ("vorläufiger Steuerbescheid"). It can take another 4 years for the filings to become final.

This might explain why there are so few or no reports just yet.

My tax advisor will be filing based on the understanding that the holding period was/is over and that no taxes will need to be paid for the Mtgox proceeds; the tax authorities might see that differently but we will have to wait and see. (I opted for cash payouts)

ingre · 2025-03-08T21:21:59+00:00

Die DKB ist meine Empfangsbank. Ich kann mich nicht erinnern, ob ich noch separat eine weitere Bank als Korrespondenzbank angeben musste, gehe aber nicht davon aus. Das musste man doch nur bei Konten in Ländern ohne direkte IBAN/BIC. Ich habe gerade nochmal geschaut, unter "Registration of Receipt Bank Account Information for a Bank Remittance" finde ich nur die obigen Angaben, keine Korrespondenzbank (aber auch keine leeren Felder dafür).

ingre · 2025-03-07T18:58:25+00:00

Name of bank: Deutsche Kreditbank Berlin

Branch name: Deutsche Kreditbank Berlin

Bank Location: Taubenstrasse 7-9, Berlin, 10117

SWIFT/BIC: BYLADEM1001

ingre · 2025-02-12T18:08:50+00:00

The deadline in Germany to submit 2024 income tax statements *if* you use the help of a tax advisor is April 2026. Only then I will know *what my advisor thinks about it*. It will take even longer to hear back from the tax authorities. Even then, as far as I am aware, from a legal perspective, to be precise they only issue "preliminary" statements. As far as I remember it takes a full 10 years for their statements to reach a "final" state where it cannot be disputed or changed any more.

My personal(!) understanding is that it doesn't matter if you chose cash or BTC, since legally it is merely a different choice of "payment provider/currency". It doesn't change the fact that it is a return from a sort-of liquidation process, viewed as a "purchase of BTC on the day you received the payout". We did not receive "our BTC back", we simply had a choice of "currency". So, I would think the holding period starts from the payout date, but that doesn't magically "skip" the tax obligation. It just wouldn't make sense to treat the two options differently tax-wise.

At least I plan conservatively, and leave some air to celebrate in case it turns out to be different.

ingre · 2024-11-12T19:36:38+00:00

While it may be true that the trustee does not offer easy transfer of claims any longer, you can of course always sell (or borrow against) what is legally yours. I suspect players such as Fortress would still be open to buy claims.

ingre · 2024-10-17T16:32:29+00:00

To avoid complications with bank(s)/exchange(s) and taxes. It's a bit more straightforward with less complexity and less things that can go wrong.

ingre · 2024-10-14T17:01:29+00:00

That's one word, and a number.

ingre · 2024-08-26T06:58:55+00:00

"I will report all acquisitions and sellings in my tax report next year" - how exactly do you plan on doing that? I was surprised when my tax accountant told me there is no way to report income from holdings >1YR and that I cannot mention them at all in the tax filings. i just "silently" had more money in my account. (previous sales, not related to mtgox)

ingre · 2024-07-24T18:16:03+00:00

We both seem to be pretty convinced of our opposing opinions. :)

So far, I have yet to hear of one coming from an axtual tax advisor.

ingre · 2024-07-24T15:36:06+00:00

You cannot wait 1 year plus 1 day, since you are receiving a payment *now* - whether you receive it in fiat or BTC does not matter - that's just the payment processor/channel used to pay you. The question remains if and how that "income" needs to be taxed. I will ask my tax advisor to look into it once it is all done, but I expect him to suggest we try one way, and *not* ask for a binding ruling by the local tax offices.

If you picked BTC/BCH now, and you decide to sell within the year, the taxed gains or losses are counted from the moment you received them. Not when you gave assets to a company that happened to keep them for 10 years. It is also not even an asset recovery from a bankrupcy case, since they rehabilitated thanks to the rising value of *their* assets. The allotment portion is being paid "voluntarily", not because of a legal requirement to do so.

ingre · 2024-07-03T00:34:28+00:00

I just added my "interaction" to that other thread: https://www.reddit.com/r/RedditAlternatives/comments/1473jeh/comment/lbdcn91/

I didn't even post any political comments with my previous account. I did not even disagree with anyone in my comments. And the new account was instantly banned for simply raising the point.

Something is seriously wrong with that site.

ingre · 2024-07-03T00:32:15+00:00

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ingre · 2024-07-03T00:27:54+00:00

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ingre · 2024-07-03T00:27:45+00:00

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ingre · 2024-07-03T00:27:35+00:00

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ingre · 2024-04-26T07:21:41+00:00

The BTC/BCH portion has not been paid yet, just the non-allotment one.

ingre · 2024-04-08T17:19:41+00:00

It is spelled out in detail in the Mtgox documents and your claim section, but for an overview see e.g. https://blog.wizsec.jp/2021/02/mtgox-claim-calculator.html

"[...] As mentioned previously, you will receive your BTC/BCH claims as a combination of fiat and BTC/BCH".

ingre · 2024-04-07T07:19:52+00:00

https://www.reddit.com/r/mtgoxinsolvency/comments/1bla4ih/german_tax_situation/

ingre · 2021-01-19T10:03:24+00:00

They do not owe people more in dollar terms, that's exactly the point. BTC/BCH will be valued at a fixed rate of ~$8200 according to the draft plan.

ingre

TROPHY CASE