German tax knowledge

How to enter crypto derivatives on Annex KAP

Last reviewed: August 31, 2026

Gains and losses from crypto derivatives — futures, perpetuals, margin without actual delivery of the coin — are generally investment income in Germany under section 20 EStG. That is Annex KAP, not the crypto-assets section of Annex SO. In chain.report the block is revenue from margin activities, including the split into gains and losses.

The facts in brief
When	Futures, perps, margin without delivery
Rule	Section 20 EStG, investment income
Not KAP	Spot sales and staking inflow

Official form (schematic)

Anlage KAP

Termingeschäfte / Derivate

Line	Entry	Value
19	Gewinne aus Termingeschäften (brutto)	EUR
22	Verluste aus Termingeschäften	EUR

Schematic based on Annex SO / KAP for tax year 2025. Check the heading in ELSTER for your year — line numbers can move. Not a copy of a software screenshot.

When KAP instead of SO?

Spot sale, swap, paying with coins: Annex SO crypto assets. Staking inflow: services. Contracts where you receive a cash settlement instead of the coin: KAP. If an exchange mixes spot and futures in one CSV, classification must be right or PnL lands on the wrong annex.

Which lines you need

On Annex KAP 2025 you typically enter foreign derivative gains on line 19 (gross). Losses sit on line 22 and are already included in that gross figure — do not subtract them from 19 again. The fill aid takes the margin-income group and the loss sub-line. Check line numbers in ELSTER; they can move from year to year.

What the report does not decide for you

Whether an event is really a derivative depends on the contract, not the ticker. If you actually receive the coins, you often stay in section 23. chain.report shows the group that follows from your classification. Unclear futures imports belong in CleanUp, not on a guessed KAP line.

Sources

Section 20 EStG — investment income

Frequently asked questions

Are bitcoin ETFs also KAP?

Spot bitcoin ETFs are typically investment income, but not crypto spot in the Annex SO sense. That is a securities case. This guide covers exchange crypto derivatives.

Can I offset margin losses against spot gains?

Not across annexes at will. Section 20 and section 23 are different types of income. Offsetting follows the statute, not convenience.

What if chain.report shows no margin income but the exchange had futures?

Then classification or the import is missing. Close the history first, then fill KAP. Under DAC8 the tax office sees the exchange side anyway.