How is the etoro tax report different from the etoro account statement?

The etoro tax report takes all the information from the etoro account statement and calculates the etoro portion of your reportable taxes, based on the laws and regulations of your tax country of residence.

These are the main differences between the tax report and the account statement:

They are shown in different currencies

All figures in the account statement are in USD. The tax report shows the values of your positions in your local currency, based on USD daily exchange rates.

Each one has its own calculation of capital gains

While the account statement takes into consideration the closing of your positions based on your selection (specific identification method), the tax report takes into consideration the matching rules as required by local law.

The tax report covers a specific tax year

The tax report covers the specific 12-month period used in government accounting for the local tax year. However, the account statement can be generated to cover any dates of your choosing.

The available balance may differ

The available balance shown in your etoro tax report may differ from the available balance displayed on your etoro account statement.

This is because the tax report treats funds allocated to copy investments that are not invested in open positions as available cash. However, the account statement presents these funds as invested in your copy, not as available cash.

Additionally, cash held in an etoro local currency account is not included in the available balance reported for tax purposes.

These differences are expected and do not impact the accuracy of your tax report.