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What Investment Tax Simulator does
In long-term investing the outcome is decided not only by the return but also by tax. The investment tax simulator makes visible what many return calculators leave out: German capital gains taxation with all its quirks. You enter investment amount, monthly savings, expected return and investment period and get the development of gross, tax and net year by year.
The simulator knows the advance lump sum (Vorabpauschale), the annual pre-taxation of accumulating funds based on the Bundesbank base rate. It accounts for the partial exemption, under which 30 percent of the income of equity funds stays tax-free, and factors in the saver's allowance of 1,000 euros (single) or 2,000 euros (joint assessment) as well as optional church tax of 8 or 9 percent.
A dedicated tax comparison puts four investment vehicles side by side at identical capital and identical return: accumulating ETF, distributing ETF, individual stocks and fixed deposit. So you see in black and white why the vehicle makes a noticeable difference to the net result - not because of different returns, but because of different taxation.
The FIFO principle is an often-overlooked stumbling block. When you sell shares, First In, First Out applies: the tax office assumes you sell the earliest-bought shares first. With strongly risen prices this means a higher taxable gain than expected. The simulator shows clearly which lot counts as sold and which tax is due on it.
Loss offsetting is modelled too. In Germany losses from selling stocks may only be offset against gains from selling stocks, while other losses can be offset more broadly. The simulator works out what is offsettable, what carries forward as a loss and which tax refund results from it.
Ready-made scenarios set the inputs with one click, charts show the value development as lines or areas, and a yearly table lists each deposit, the gross value, the tax and the net value. Everything runs in the browser, without signup. The simulator is deliberately simplified and not investment or tax advice - the actual base rate and your personal situation may differ.
Features
Flat tax over years
25% capital gains tax plus surcharge and optional church tax, mapped year by year onto gross and net.
Advance lump sum and partial exemption
The annual pre-taxation of accumulating funds and the 30 percent partial exemption for equity funds are included.
Vehicle tax comparison
Accumulating ETF, distributing ETF, individual stocks and fixed deposit at equal capital and return.
FIFO sale simulation
See under first-in-first-out which lot counts as sold and which tax is due.
Loss offsetting
Separate offsetting of stock and other losses, including loss carry-forward and tax refund.
Charts and yearly table
Value development as line or area plus a table with deposit, gross, tax and net per year.
How it works
- 1
Enter the basics
Set investment amount, monthly savings, expected return and period - or load a scenario.
- 2
Choose the tax profile
Set fund type, assessment, church tax and partial exemption so the tax matches your situation.
- 3
Read the result
Final value, gross return, tax burden and net return are ready, including the effective tax rate.
- 4
Explore the details
Use the tax comparison, FIFO simulation and loss offsetting to play through special cases.
Who needs this
Frequently asked questions
What is the advance lump sum (Vorabpauschale)?
The advance lump sum is an annual pre-taxation of accumulating funds. Since these funds do not distribute but reinvest their income, the tax office assumes a notional minimum return based on the Bundesbank base rate and taxes it in advance. On a later sale the amount already taxed is offset. The simulator models this mechanism.
What does partial exemption mean for ETFs?
For equity funds and equity ETFs with a sufficient equity ratio, 30 percent of the income stays tax-free (partial exemption under the German Investment Tax Act). This lowers the effective tax rate compared to individual stocks and is one reason the tax comparison in the simulator is so revealing.
How does the FIFO principle affect my tax?
On a sale, First In, First Out applies: the earliest-bought shares count as sold first. Because these often have the lowest purchase price, the taxable gain is higher than at the average price. The simulator shows lot by lot which gain and which tax arise on a partial sale.
Can I offset stock losses against ETF gains?
No. Losses from selling individual stocks may only be offset against gains from stock sales, not against gains from ETFs, interest or dividends. Other losses can be offset more broadly. The simulator keeps both pots separate and shows the remaining loss carry-forward.
Is the simulation exact?
It is a simplified model calculation with realistic assumptions and the stored base rate for the advance lump sum. The actual base rate, future tax changes and your personal situation may differ. The simulator is orientation, not investment or tax advice.
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