Spain modelo 720

Tax Questions
#1

Koinly model 720 declaration help says

Model 720 Declaration

The Model 720 Declaration is used to inform the tax agency about your assets abroad, so you can pay income tax accordingly (both the income tax declaration and the model 720 must be aligned).

This applies to crypto in 2 ways

  1. All those cryptos you have in exchange pockets pertaining to companies that are not located in Spain.
  2. If the value of your cryptos exceeds 50.000€, you must submit the 720 declaration.

Furthermore, if you have all your coins located within a portable Wallet (like Trezor), you don’t need to formalize this declaration either, as that situation is analogous to having your cryptos in Spain.

What if the total value is >50k EUR but most of it is in wallets and less than 50k is on exchanges?

#2

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