Hello!
I’m so confused when it comes to declaring deposits ,withdrawals, wins and losses at online crypto-casinos…
I currently live in Sweden. Casino winnings in general are taxable which means that I need to pay a tax of 30% of the profit. But when it comes to for example selling or trading crypto we also have a 30% ‘‘gain’’ tax to pay and on top of that the losses are only deductable to 70%.
So my scenario is:
I make a deposit to a crypto-casino of $100 and there’s a total of 100 bets placed. Let’s say I lost it all and the next day I make another deposit of $100 but this time I win $250 and make a withdrawal back to my crypto wallet. So according to the casino winnings tax I can deduct the losses to 100% which makes the final tax 30% of the net profit. But if I understood it correctly, the wallet of the crypto-casino that I deposited to is also ‘‘mine’’ which means that I should declare all transactions made on that account, including the bets even if its thousands, correct? And does that mean that I’m only allowed to deduct 70% (according to swedish law) of the losses?
How do I declare this on my tax report (k4) when the time comes?