Austria Lets Citizens Offset Crypto Losses Against Investment Income

Austria allows citizens to offset losses on cryptocurrencies like Bitcoin against positive investment income from the same year, according to the country's finance ministry.

The Austrian finance ministry says that realised cryptocurrency losses can be offset against certain types of investment income, such as gains on shares and dividends. To qualify for this offset, a tax loss must have actually arisen, and suitable positive investment income must exist in the same calendar year.

For example, if someone bought Bitcoin at 20,000 euros and later sold it for 14,000 euros, they would incur a realised loss of 6,000 euros. This loss can be offset against other forms of investment income from the same year, such as gains on shares or dividends.