Expert clarifies common doubts about the declaration of rents, financing, renovations and real estate sales at IR
Declare properties do not generate common questions among taxpayers, especially when it involves rents, sales, renovations or financing. To help clarify these issues, the Young Pan gathered practical guidelines based on the most frequent questions of customers. According to Andreia Vellido, tax manager of Quintoandar, errors or omissions in the statement can lead to fine mesh and generate complications with the IRS. “Seeking information in advance and, if possible, having the support of an accountant is fundamental,” he says.
Check out the main guidelines
For tenants
How to declare the rent?
The tenant must inform the amounts paid to the owner in the “payments made” form, using the code “70 – Real Estate Rental”. It is mandatory to inform the beneficiary’s CPF or CNPJ and the total amount paid in the year.
Expenses such as property tax and condominium should be declared?
No. These expenses are not deductible and need not be informed.
Reform in rented property enter the statement?
No. Improvements made by the tenant should not be included in the Individual Declaration.
Can the rent be deducted from IR?
No. Although it is mandatory to declare, the rent amount is not deductible.
How to declare divided rent with someone else?
Each tenant must declare the party he paid so that the revenue can cross the amounts with the owner.
How to declare spending on documentation and renovations of a property acquired but not yet financed?
These values must be registered in the “Goods and Rights” form, provided that the property is already in the name of the taxpayer. The financing, in turn, will be informed the following year.
For owners
The own property declaration tends to be more complex and may require professional support. “In addition to involving different scenarios – such as financing, renovations or rental of rents – extra attention is needed to the rules,” says Vellido.
When is it mandatory to declare a property?
If the total amount of goods exceeds R $ 300 thousand or if the annual rental income is exceeding R $ 30,639.90.
Should IPTU and Condominium paid by the owner be declared?
Separately, no. However, when filling the lion booklet, these expenses can be deducted from the rent received.
How to declare a financed property?
The property must be registered in the “Goods and Rights” form, detailing address, area, amount paid, among other information. Amounts paid each year must be updated according to the calendar.
Can reforms update the value of the property?
Yes. As long as documented with invoices and receipts, renovation expenses may be added to the acquisition value.
How to declare inherited properties?
The value of the property in the inventory and registering the origin as “exempt and non-taxable income” must be informed.
How to declare the sale of a property?
It is necessary to fill in the “capital gains” program of the IRS and import the information for the annual statement. In cases of exemption, as in the sale of single property up to R $ 440 thousand, it is also necessary to register correctly.
Rental receipt
Owners need to use the lion booklet?
Yes, for rents over R $ 2,112 per month. The tax must be collected monthly and declared as “taxable income received from individuals”.
What expenses can be slaughtered?
Administration fees, property tax, condominium (when paid by the owner) and brokerage commission can be deducted from the gross rent.
How to declare vacant property during the year?
Only the values actually received. There is no need to justify vacancy, but it is recommended to store supporting documentation.
Attention to corrections
If the taxpayer identifies any errors after sending the statement, it is possible to rectify within the deadline without a fine. Rectification is valid for owners, tenants or buyers. According to Andreia Vellido, the organization of documents and the use of digital tools, such as automatic and historical payment reports, help to avoid errors. “Keep your documentation in order and seek complete information with a specialist to avoid problems when declaring your properties,” he says.
