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V1579-22 30 June 2022 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · criptomonedas

Cryptocurrency fraud losses not deductible without meeting LIRPF art. 14.2.k. requirements

A taxpayer asks whether they can deduct a loss from a cryptocurrency investment after being frauded by a platform. The DGT responds that a loss from a non-recovered credit is only deductible if the credit is uncollectable under specific legal conditions.

The question raised

Possibility of computing the loss in the Personal Income Tax (IRPF).

The DGT's ruling

The loss of a cryptocurrency investment due to fraud implies holding a creditor position against the platform for an overdue and unsatisfied credit. For this credit to generate a deductible capital loss, one of the circumstances set forth in Article 14.2.k) of the Personal Income Tax Law (LIRPF) must be met. The mere filing of a complaint with the National Police does not constitute the commencement of a judicial credit enforcement procedure necessary to apply the deduction.

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