ICOs are still not explicitly regulated by law in many countries. A taxable event occurs if tokens from an ICO are sold within less than one year of receiving them in your wallet. Since the tokens issued by an ICO are usually related to the business model of the issuing company, a VAT exemption may be applicable.
- In your desired manual Depot, click Add Transaction.
- Under "Transaction Type", choose "Tokensale".
- Enter the date and time of the transaction.
When entering in Blockpit, please note that the date must be the date on which the purchase was made, and not the date of the inflow if this differs. So please enter the date on which the investment was made (when you transferred e.g. ETH to the smart contract).
- Enter the currency and the quantity of both paid and received coins. In the input field for the currency, you can either choose from the drop-down list or enter a currency manually if it does not appear in the list.
- If any fees have accrued, enter them with currency and quantity as well.
- You can choose to add a note. Notes can be helpful to sort trades into categories. You can also indicate that the transaction is to be ignored in the balance.
- Click Create to display the transaction in the Depot.