Deductible costs on a PIT-38 forex filing in Poland

A trading expense, an instrument acquisition and a tax deduction are different questions. For a Polish private investor, identify the instrument, relevant income category, supporting records and recognition date before entering a cost on PIT-38. Business income and virtual currencies require their own rules.

Where does the PIT-38 cost catalogue come from?

For private CFDs that qualify under Article 30b(1), the Polish PIT-38 form reports the relevant income at 19%. Confirm the actual instrument and activity before applying this regime. The ordinary filing deadline is 30 April of the following year, subject to the applicable calendar and procedural rules.

For derivatives, Article 30b(2)(3) points to Article 23(1)(38a), which governs acquisition-related expenses and their recognition. Examine the instrument’s construction, settlements and applicable eligibility rules. MF also describes acquisition and account-servicing costs for securities; that list must not be transferred wholesale to every CFD.

Article 23(1)(38a) defers qualifying derivative-acquisition expenses until realization of rights, waiver of their realization or disposal, subject to the stated exception. A CFD margin block is not automatically such an acquisition expense. Payment date, the event releasing a deferred cost and revenue recognition can be different dates.

Payment in December, recognition in January

Assume a privately held cash-settled option: a USD 500 premium paid in December 2026 at its illustrative cost-conversion rate of PLN 4.00/USD. Rights remain unrealized until January 2027, when settlement produces USD 800 revenue at its illustrative PLN 4.20/USD rate. With the stated deferral applying and no other fees, the model cost is PLN 2,000, recognized in 2027 alongside PLN 3,360 revenue; income is PLN 1,360. Repricing the old USD 500 expense at 4.20 would wrongly give PLN 2,100 cost and understate income by PLN 100. This is a hypothetical future scenario, not a recorded event or a forecast of exchange rates; it cannot be copied to a CFD with no such purchase premium.

What can you actually record as a cost?

Reconcile the instrument’s acquisition or settlement amounts and separately charged fees, then assess legal eligibility and timing. A complete annual report may help, but no universal report or column format is promised for every provider. Keep source records rather than assuming commissions are the entire cost base.

Financing can be positive or negative and may be shown separately from position results. Check how the actual provider books it and whether the annual figures already include it. Count each legally eligible amount once. Do not infer a Polish tax date simply because a position is still open or a platform calls an entry swap.

When the bid–ask effect is already included in actual entry and exit prices, the settlement reflects it. Adding the same price difference as another deduction counts it twice. Check the report rather than assuming every cost or charge uses the same presentation.

Assess equipment and overheads without automatic answers

An invoice proves an expense was incurred, not that it is deductible. For hardware, subscriptions, data, training and other overheads, assess the statutory connection to the relevant income source, exclusions, timing and supporting facts. Do not treat a broad list as either automatically deductible or universally rejected in every Article 30b case.

Documentation and actual use can matter, but registering a business does not by itself settle income classification or deductibility. Article 30b(4) distinguishes transactions conducted in business activity. Assess the actual activity and expense under the applicable rules before choosing a filing route.

How much do commissions alone actually change?

The following hypothetical model assumes PLN 30,000 of correctly recognized revenue, PLN 5,600 of separately eligible commissions not already deducted, no other costs or earlier losses, and sufficient Article 30b income. It illustrates the tax effect without claiming that commissions are every trader’s largest or only cost.

In a simplified case with positive Article 30b taxable income and a newly deductible cost not already included, a PLN 100 cost reduces 19% PIT by PLN 19. That is not an unconditional cash saving: losses, deduction timing, prior inclusion and other tax rules can change the outcome.

How do you convert costs held in a foreign currency?

Article 11a converts revenue at the average NBP rate from the last business day before revenue is obtained, and costs at the rate before they are incurred. These are separate dates. Do not use a year-end rate or convert annual net P/L once. Later recognition of a deferred expense does not by itself reprice its original foreign-currency cost.

A worksheet should retain the original amount, currency, expense or revenue date, recognition event, rate source and PLN value. Test individual rows against records before summing them. A spreadsheet supports reconciliation; neither a template nor manual entry is guaranteed to avoid errors.

Which documents do you have to keep?

Confirm whether the specific reporting entity supplies a PIT-8C statement and what it covers. Reconcile it with other relevant records and the prepared return. Twój e-PIT can automatically accept an available return under its rules, but omitted income or costs still need the correct filing or correction.

If your broker does not provide PIT-8C, calculate from complete supporting records. Assess whether foreign-source income requires PIT/ZG under the form’s instructions; the account address alone is insufficient. Retain documents until the relevant liability is time-barred, allowing for events that may suspend or interrupt the limitation period.

The most common traps

• Entering the spread as a separate cost. It is already contained in the opening and closing prices, so it lowers the result automatically. Adding it to costs means counting the same amount twice and understating the tax base.
• Treating an invoice as a deduction decision. It records spending; it does not by itself establish the income connection, legal eligibility or recognition year for hardware, subscriptions or training.
• Confusing payment and recognition dates. A qualifying derivative-acquisition expense may be deferred under Article 23(1)(38a). A margin block and a separately settled fee are not automatically the same event.
• Converting currency at the transaction-date rate. What applies is the average NBP rate from the last business day preceding the day the revenue was earned or the cost incurred.
• Forgetting a loss carried from earlier years. A loss on income from capital does not simply vanish, but it is settled under separate rules — I describe them in the piece on how to file a forex loss.

What to do before your next filing

1. Download complete statements and reconcile cost components. Identify deductible amounts and whether each is already included. Commissions are not necessarily the only cost line; contract settlement losses, acquisition amounts and other items require product-specific classification.
2. Reconcile financing separately. Read the report’s columns and identify included or separately charged amounts. Explain deposits, withdrawals, open P/L and other adjustments before using account balance as a check.
3. Preserve separate conversion dates. Keep each revenue and cost amount, its governing date and applicable NBP rate in the worksheet. A template still needs checks against the instrument records.
4. Keep overhead invoices for assessment. Distinguish their economic budget effect from a legally supported deduction. Do not include or reject an entire category solely from a checklist.
5. Consider an individual ruling for unresolved facts. Describe the actual expense and activity completely. The official procedure gives a normal response period up to three months, with qualifications; protection depends on its statutory scope and conditions.

For a broader view of trader record-keeping and the paperwork habits that make a filing season painless, see our taxes section.