Income Tax 2023: learn how to declare financed properties

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Information on the installment of the property in the IR 2023 must be gathered in the assets and rights sheet. Taxpayers need to declare the amount actually paid in the year, not the value of the property. Income Tax 2023: deadline for declaration runs from March 15 to May 31. Marcos Serra/ g1 If you financed the purchase of a property and were paying the installments by December 31, 2022, you will need to fill in all the information regarding this loan in the 2023 Income Tax return. the declaration of a financed property in the Income Tax has two tricks that can confuse the taxpayer: The first is that the financing must be declared in the “Assets and Rights” form, and not in the “Real Debts and Encumbrances”. The second is that the declared value must be the amount actually paid in that year, and not the market value of the property. If the taxpayer purchased the property in the tax base year (2022), he must enter the balance of BRL 0.00 in December 2021 in the respective form. with the acquisition of the property: down payment, brokerage, taxes and financing installments paid until December (including interest and built-in fees). When does the refund start and how to consult values ​​EVERYTHING ABOUT INCOME TAX 2023 If the property has been financed in previous years, the taxpayer must register as a balance in December 2021 everything he has paid until then. Already in the 2022 balance, it will add this amount and the financing installments paid throughout the year. If the buyer has used funds from the Severance Indemnity Fund (FGTS) for the acquisition of property, he must inform the amount withdrawn in the “Exempt and Non-Taxable Income” form. Thus, he can prove that he had enough source for the purchase. The value must also enter the “Discrimination” field of the “Assets and Rights” form. In case of improvement or reform in the property, the amount invested can be added to the total value of the property – provided that you have proof of this. In this case, it is also necessary to describe the reform carried out. The value of the property declared (both the payment and the renovations) does not change the refund or payment that the taxpayer will have, regardless of the type of declaration. But it makes up the cost of acquiring the property. The value is important in cases where the person decides to sell the property. In case of sale, the cost of acquisition will be deducted from the sale value to verify information about any possible special gain. Experts recommend that taxpayers ask for the debt income report provided by the financial institution and the FGTS income report provided by Caixa Econômica Federal to help fill it out. Financing made by couples In financing contracts signed by couples, the most appropriate thing is that the statement of payment of installments is made by only one of the two taxpayers. In the taxpayer’s declaration that does not inform the assets and rights – in this case, the financing –, it is necessary to detail that the common assets and rights have already been declared by the spouse or partner in the “Discrimination” field, under the code “99 – Others”. The name and CPF of the partner must also be informed, in addition to an amount of R$ 0.00 in the balance of December 31, 2022. See below who is obliged to declare IR in 2023: who received taxable income above R$ 28,559.70 in 2022. The amount is the same as last year’s IR declaration; taxpayers who received exempt income, non-taxable or taxed exclusively at source, whose sum was greater than R$ 40 thousand last year; who obtained, in any month of 2022, a capital gain on the sale of assets or rights, subject to the levy of tax, or carried out operations on stock, commodity, futures and similar exchanges whose sum was greater than BRL 40,000.00 (forty thousand reais), or with calculation of net gains subject to the levy of tax; those who were exempt from tax on capital gains on the sale of residential property, followed by the acquisition of another residential property within 180 days; who had, in 2022, gross revenue in excess of R$ 142,798.50 in rural activity; who had, until December 31, 2022, possession or ownership of assets or rights, including bare land, with a total value greater than R$ 300,000; who became a resident in Brazil in any month and was in this condition until December 31, 2022.

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