Get help reporting solana on your taxes

We’re with you all the way when you’re trading solana or other cryptocurrencies via Lunar Block - also when it’s time to take care of the annual tax report to Skat.

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Make reporting your taxes to Skat easier with Lunar Block

Every year, you need to report your crypto trades, including solana, on your tax report to Skat. You’re responsible for doing so yourself.

To make it as easy as possible, we’ll send you a guide when it’s time to file your taxes. You’re getting this guide along with an overview of all your trades. In this way, you can keep track of exactly what and how much you need to report, and with the guide it won’t take long.

You can always find more information on Skat’s website .

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SOLANA: PERSONAL INCOME IN CASE OF GAINS - DEDUCTIBLE EXPENSE IN CASE OF LOSSES

When you earn money by selling cryptocurrency, you need to pay taxes on gains. The tax rate is the same as you would pay for personal income - so 37-52% depending on your tax bracket.

Due to the current taxation laws for solana and other cryptocurrencies, you cannot deduct losses from any gains, when you lose money on selling cryptocurrency. Here, you will get a deductible expense, corresponding to a tax value of about 25%. 

This means that you will be taxed with 37-52% in case of any gains, while you will get 25% in deductible expenses in case of any losses. If you were to earn 1,000 on solana, and you pay 37% in taxes, you would have to pay 370 DKK in taxes. And if you’ve lost 1,000 DKK on solana in the same year, you would “get '' 250 DKK back.

An overall result of -120 DKK, even if you’ve technically broken even. This is called asynchronous taxation, which you can read more about here .

Cryptocurrencies can rise and fall

When you trade cryptocurrencies, you need to be aware that it carries a large risk. The value of your cryptocurrency can both rise and fall , and you can risk losing the entire amount you’ve invested in cryptocurrencies.

Cryptocurrency trading is done through Lunar Block. Lunar Block is not regulated by the Danish Financial Supervisory Authority (Finanstilsynet). That means you won’t have the same protection as when trading e.g. stocks or other regulated assets.

Remember to file your taxes correctly

A lot of people have a hard time comprehending the taxation laws of cryptocurrencies. According to a study from Skattestyrelsen , 67% of Danes are not reporting their cryptocurrency gains and losses correctly.

Lunar Block makes it easier for you, by sending you an overview of all your crypto trades. So you can get the overview of how much any possible gains are and how much you’ve lost.

We’re also sending a guide which explains which boxes in the annual tax report you need to fill out to correctly report your information.

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How do you invest in cryptocurrency?

If you’re thinking about buying cryptocurrency, and wish to do so on an easy, transparent and manageable platform, Lunar Block is an obvious choice. Even if you have zero experience with cryptocurrencies beforehand.

Download the Lunar app for free and sign up to Lunar Block, and get started trading solana and other cryptocurrencies today.

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Set, low trading price without pointless fees

With Lunar Block you’re always getting a set, low trading price of 2,5%. If you upgrade to Premium, the trading price is 1,5% - and with Lunar Pro, that price is just 1%.

By trading via Lunar Block you will always get what you see. Because we’re a Danish platform, you also won’t have to worry about pointless fees such as exchange fees and transfer fees.

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Your questions - answered

Cryptocurrencies can rise and fall

When you trade cryptocurrencies, you need to be aware that it carries a large risk. The value of your cryptocurrency can both rise and fall, and you can risk losing the entire amount you’ve invested in cryptocurrencies.

Cryptocurrency trading is done through Lunar Block. Lunar Block is not regulated by the Danish Financial Supervisory Authority (Finanstilsynet). That means you won’t have the same protection as when trading e.g. stocks or other regulated assets.

We do not counsel

We do not advise on currencies and do not make recommendations for either buying or selling. We can provide factual information about the different currencies, but past price developments are not an indication of future developments.

No information from Lunar Block should therefore be considered as recommendations and all decisions are up to you alone.