Can the deemed acquisition cost be applied to futures?

No. The deemed acquisition cost applies to property that has an acquisition cost. A standardized derivative is settled on the realized gain or loss, so taxation is always based on the actual euro result.

At what rate are futures gains taxed?

As capital income: 30% up to 30,000 euros and 34% above that. The rate depends on your total capital income for the tax year.

Are futures losses deductible?

Yes. Losses are offset against capital income, and any excess is confirmed as a capital income loss that can be carried forward to later years.

How is currency converted into euros?

Each trade's result is converted into euros at the trade-date rate (Tax Administration guidance on capital gains of individuals, section 8.11; section 5.2 names the official ECB rate of the day the contract is signed). The open and close can use rates from different days.

Futures taxation in Finland

A common misconception: that the deemed acquisition cost could apply to futures. It cannot. Standardized derivatives are always taxed on the actual realized result as capital income.

General information, not tax advice. Verify your own situation or consult a professional.

Futures are capital income

In Finland, gains from standardized derivatives — futures and standardized options — are taxed as capital income. The capital income tax rate is 30% up to 30,000 euros and 34% on the part exceeding that. The rate is applied to your total capital income for the year, not to a single trade.

A loss on a future traded on a regulated or equivalent market is treated as a capital loss (Johdannaisten verotus, section 3.3, in Finnish). A capital loss is deducted primarily from capital gains and, if there are none, from other capital income; any unused part carries forward for the following five years (vero.fi: Selling shares). A loss on a forward contract traded elsewhere is as a rule not deductible (same section 3.3).

The deemed acquisition cost does not apply to futures

This is the heart of the matter. The deemed acquisition cost (20% or 40% of the sale price) is a shortcut for calculating capital gains on property that has an acquisition cost — for example shares or fund units. It may not be deducted from a gain on a forward contract (Income Tax Act section 45(3)), and according to section 3.2 of the Tax Administration guide Johdannaisten verotus (in Finnish), the ban rests precisely on the fact that a forward contract has no acquisition cost.

Because the derivative result is already a euro-denominated gain or loss, the taxable amount is always the actual result. The deemed cost simply cannot be used, and attempting it would produce an incorrect return. The same applies whether you close by an offsetting trade or the contract expires and is cash-settled.

How the euro result is formed

A futures result is not just the price change; it is the price change multiplied by the contract multiplier, or point value. Each closed contract produces its own result, and if the trading currency is not the euro, that result is converted into euros.

Conversion uses the exchange rate on the trade date (Tax Administration guidance Omaisuuden luovutusvoitot ja -tappiot luonnollisen henkilön tuloverotuksessa, section 8.11, in Finnish; section 5.2 names the official ECB rate of the day the contract is signed as the conversion rate).
The open and close dates may carry different rates — both are taken into account.
The multiplier varies by product, so the same point move can mean a very different euro amount.

Worked example of one contract

Assume one index future with a point value of 50 euros per point. You open at 4,800 and close at 4,860. The difference is 60 points.

Result in points: 4,860 − 4,800 = 60 points.
With the multiplier: 60 × 50 € = 3,000 € gain.
For a euro-denominated product the result is already in euros; for a non-euro product the 3,000 units would be converted at the trade-date rates.
The taxable amount is the full 3,000 € — nothing is reduced by a deemed cost.

If another contract produced an 800 euro loss the same year, the net taxable result from derivatives is 3,000 − 800 = 2,200 euros, added to your other capital income.

Reporting in OmaVero

Derivative results are reported as capital income. In practice you need, for each closed contract, the euro-denominated realized gain or loss, correctly converted. Report losses carefully so they are actually deducted, and keep broker reports as supporting documents.

How PnlTrack helps

PnlTrack imports your Interactive Brokers futures automatically and computes the taxable result correctly:

Applies each product's correct contract multiplier when computing the euro amount.
Computes the realized result per contract, both offset-closed and expired positions.
Converts currency at the correct ECB trade-date rates.
Does not offer a deemed acquisition cost for futures — because it may not be used — and produces ready, correct OmaVero figures instead.