How to Report Crypto Income in Argentina: Complete 2024 Tax Guide

## Introduction
Reporting cryptocurrency income in Argentina is mandatory under AFIP (Federal Administration of Public Income) regulations. As digital assets gain popularity for investments and transactions, understanding tax obligations prevents penalties and legal issues. This guide covers Argentina’s crypto tax framework, step-by-step filing procedures, and expert tips for compliance.

## Understanding Argentina’s Crypto Tax Laws
Argentina treats cryptocurrency as a “financial asset” rather than currency. Key regulations include:

– **Capital Gains Tax**: Applies when selling crypto at a profit. Calculated as (Selling Price – Acquisition Cost) × 15%.
– **Income Tax**: Crypto earned through mining, staking, or as payment for services is taxable as ordinary income (scales 5%-35% based on earnings).
– **Wealth Tax (Bienes Personales)**: Holdings exceeding ARS 6 million (≈USD 6,600) as of December 31 must be declared annually.
– **AFIP Resolution 4615/2019**: Requires exchanges to report user transactions exceeding ARS 300,000 monthly.

## Step-by-Step Guide to Reporting Crypto Income
Follow this process for accurate tax filing:

1. **Track All Transactions**: Log every trade, conversion, and receipt date using tools like Koinly or CoinTracker.
2. **Calculate Gains/Losses**:
– For sales: (Sale value in ARS – Original cost in ARS) = Taxable gain
– For mined/staked crypto: Market value at receipt date = Taxable income
3. **Convert to Argentine Pesos**: Use AFIP’s average monthly exchange rate for USD conversions during transaction month.
4. **Complete Form 720**: Declare foreign-held assets (including offshore exchange balances) by December 31 annually.
5. **File Through Monotributo/Régimen General**:
– Monotributo (for small earners): Include crypto income in category updates
– Régimen General: Report via Form 932 for corporations or Form 572 for individuals
6. **Pay Taxes**: Submit via AFIP’s “Sistema de Cuentas Tributarias” portal before deadlines (typically March-June).

## Common Reporting Mistakes to Avoid
Steer clear of these critical errors:

– **Ignoring Small Transactions**: All crypto activity must be reported regardless of amount
– **Forgetting Foreign Wallets**: Non-Argentine exchanges (e.g., Binance) still require declaration
– **Miscalculating Cost Basis**: Include transaction fees in acquisition costs
– **Missing Deadlines**: Wealth tax due March 31, income tax April-June annually
– **Omitting Mining Rewards**: Even small daily mining income is taxable

## Record-Keeping Best Practices
Maintain these documents for 10 years:

– Wallet addresses and exchange account details
– CSV files of all transactions
– Screenshots of mining pool payouts
– Receipts for crypto purchases
– AFIP conversion rate records

## Frequently Asked Questions (FAQ)

### Is crypto-to-crypto trading taxable in Argentina?
Yes. Every trade (e.g., BTC to ETH) is a taxable event. Calculate gains based on ARS value difference between acquisition and disposal.

### Do I pay taxes on NFT sales?
NFT profits follow capital gains rules. If sold within a year of purchase, gains are taxed at 15%. After one year, rates decrease progressively.

### Can I deduct crypto losses?
Capital losses offset capital gains in the same fiscal year. Unused losses carry forward five years. Mining/staking losses aren’t deductible.

### What if I use foreign exchanges?
You must self-report all foreign transactions. AFIP receives data from major platforms under international agreements. Failure to declare risks fines up to 200% of owed tax.

### Are there tax exemptions?
Only personal transfers between your own wallets are exempt. Gifts/inheritances over ARS 1.5 million trigger wealth tax implications.

## Conclusion
Accurate crypto tax reporting in Argentina demands meticulous record-keeping and understanding of AFIP’s evolving guidelines. Consult a certified tax advisor (CPA) specializing in cryptocurrency to navigate complex scenarios like DeFi or airdrops. Staying compliant secures your investments while contributing to Argentina’s formal digital economy growth.