Deductible costs for forex traders
Trader: "I made 30k PLN on forex in 2024, entering 30k on PIT-38". Stop. Did you account for costs? Broker commissions, swap, education, VPS, accounting office? Every 1000 PLN cost = 190 PLN less tax. Here\'s what can actually be deducted.
Cost deduction logic
Polish PIT allows deducting "costs of revenue" — anything directly related to achieving profit. Hence:
Tax = 19% × (Revenue − Costs)
For forex trader with 30k PLN profit, if documenting 5k PLN costs = saves 5,000 × 19% = 950 PLN.
Approved costs (95% cases OK)
Harder costs (50/50)
- Educational courses — if invoice and directly forex-related (Babypips, Investopedia Academy)
- Forex books — only with invoice, not receipt. General economics books = harder.
- Conferences (Forex Expo) — entry fees OK, flight/hotel = often rejected
- Mentorship — only if formal contract and invoice
- Financial magazines — Bloomberg Magazine subscription OK, Forbes random = harder
Costs usually rejected
- Personal laptop (unless dedicated business)
- Home internet (general, not dedicated)
- General books (e.g. "Rich Dad Poor Dad")
- Conference flight (besides fee)
- Conference hotel (besides fee)
- Consumption (coffee, food)
Practical checklist
- Download annual commission report from broker (usually automatic)
- Collect VPS, TradingView, education, accounting invoices
- Sum all in PLN (convert if foreign currencies)
- Enter on PIT-38 as "cost of revenue"
- Keep all invoices 5 years (tax audit)
Practical example
Accountant consultation
If profit > 50k PLN yearly, hire accountant (200-500 PLN per filing). Saves more than its cost by finding deductions and avoiding errors. Plus: in case of audit, accountant defends your declaration.
Sources & bibliography
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ISAP — Sejm RP Ustawa o PIT (Dz.U. 1991 nr 80 poz. 350) · art. 22 ust. 1 — definicja kosztów uzyskania przychodu isap.sejm.gov.pl ↗
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Ministerstwo Finansów Opodatkowanie źródeł kapitałowych (PIT-38) · zbycie jednostek funduszu kapitałowego — analogia dla forex www.podatki.gov.pl ↗
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Krajowa Informacja Skarbowa Informacje o KIS — kontakt i interpretacje indywidualne · gdzie pytać o koszty PIT-38 w forex www.gov.pl ↗
Frequently asked
Can laptop be deducted?
Only partially with documents. If laptop used 50% for trading, 50% personally — deduct 50% of cost. Required: VAT invoice (not regular receipt), usage documentation (e.g. computer usage log). In practice: most retail traders don't deduct laptop too complex. Pros with business activity — deduct. For PIT-38 (capital) laptop deduction is very hard to justify.
Can educational courses be deducted?
Yes, if documented with invoice and directly forex-related. Course "Trading psychology" for 2,000 PLN from Babypips Academy = OK. Book from regular bookstore (receipt) = harder (invoice required). Forex Expo Cyprus conference (flight + hotel + fees) = partially OK (fees YES, flight/hotel = hard). Practice: keep all educational invoices, not all accepted, but worth trying.
What is spread as cost?
Spread (bid-ask difference) is automatically included in your trade P&L. Open at ask (1.0852), close at bid (1.0851) = 1-pip loss is spread. Already in P&L report. DON'T enter spread separately on PIT-38. Different: ECN broker commissions (e.g. $7/lot at IC Markets) — YES, separately as costs. Most brokers give "Total Commission" yearly report.
Is VPS a cost?
Yes, if using Expert Advisors or need stable connection. VPS (Forex VPS, Beeks Financial) $10-30/month = $120-360/year. Required: invoice from provider. If VPS used exclusively for trading = 100% deductible. If mixed (e.g. dev work + trading) = proportional. Practice: VPS is one of best legitimate tax costs for algotraders.