Isn’t it too detailed? I was looking for a report just with cash and stocks am 31.12.1018, but cannot find any with only this information.
I already got this comment from Hedgehog once. But honestly, what is there that they dont already know? They know the state of your portfolio per 31.12.2017, then you need to put all trades and dividends into your tax declaration. So what kind of detail would you like to not provide?
Or do you want to save 2 pages of paper for environmental reasons?
Recently I got a message from IB that the tax reports are ready. They look like the tax reports for the US, but there is one that is exactly what I was looking for. It is the “Dividend Report”. You have the number of your stocks listed there and the total amount of dividends for the last year. I think that’s exactly what we need to declare, isn’t it? What’s missing here is the value of your stocks on 31.08.2019 and your cash balance on that day.
Yes, and it is there in the activity statement. I put both these reports in the envelope. What is the harm, seriously?
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In my opinion, the potential harm is that they may know too much about your activity so that they might want to classify you as a professional trader and then tax accordingly. I’m far from being that but still I think the report is too detailed. But I cannot find anything else that would contain all the information. What is everyone else on this forum sending to the tax office from the IB?
Can you be specific? Not so vague? What exactly will lead them to classify you as pro trader? I had to anyway put all trades into my tax app in order to correctly calculate all dividends.
If you’ve not made too many trades then why would you be afraid to list them? I’m not saying you’re wrong here, just thinking out loud.
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I just found something which might be the solution. In PortfolioAnalyst you can choose custom dates for the report. You can then generate two small reports one with cash position and one with stocks for 31.12.2018. It contains the final price of stocks and their number as well as the exact cash amounts. This together with the dividend report is all the tax office is supposed to know, not all your trades and money transfers and stuff as in the activity statement. Can someone with some experience reply if it’s OK like that?
I made over 400 trades last year … doh 
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Not sure how many I’ve made, but surely there are a few which do not belong on a tax declaration since they did not generate any dividends and if anything, have generated a loss which is why they are no longer open positions.
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Then you should also put the closing trade in your declaration. Otherwise they might ask what happened with that position you had per end of previous year. My tax app put all the positions from prev year and I had to put in a sell trade for it to go down to 0.
If you’ve made over 400 trades then most likely you are violating these 2 rules and your capital gains could get taxed:
- You hold securities for at least 6 months before you sell them.
- The transaction volume of all of your securities trades combined (total spent on purchases and total earned on sales) is not higher than 5 times the total value of your securities at the start of a tax year.
What about positions not held over the tax year?
In Zürich with electronic filing, I only send stock related documentation with the DA-1: dividend report from IB tax forms (and form 1042-S just in case, but probably not required).
(While probably also not required I still list all the transaction, but I don’t send documentation, as it isn’t listed with the “Freigabequittung” instructions).
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Hello everybody.
The clock is ticking and we have to submit our tax declaration soon.
Do you declare your Revolut account? If yes, how? As account does not have personal IBAN.
Would be great if you could share your experience with tax authorities.
Thank you in advance,
Peter
An account does not need IBAN. You can even have an account at your employer (e.g. unpaid salary or bonus) and then you also should declare it. Would I declare Revolut? Depends on the amount. If the balance went into 5 digits, then probably yes. But what’s the point of declaring 100 CHF?
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It is zeroed on 31 December 2019 as I don’t know if I should declare it. Thought “0” balance would not cause any issue/question.
I’m saying in case it’s not 0 (“unpaid”?).
Revolut does have a personal IBAN… It’s the one that starts by GB.
If you transfer CHF you use the non-personal and local IBAN with the reference to avoid the international transfer fees.
Anyway, the amount you need to report is balance on 31.12.2019, if it was 0, no need to report AFAIK.
Most currencies at Revolut do not have IBAN. If you have 10 currencies, each worth a few bucks, then reporting this seems really an overkill. But if you want to do it, I would just put the ISO code of the currency as the account name.
In my situation (Geneva canton) I report my Revolut account using the GB IBAN and the total counter value of all currencies in CHF.
Thanks for replies to everyone.
Happy weekend!