IRPF 2025: How to Declare FINANCED PROPERTY Correctly [Step by Step]

Summary

This video guides viewers through the process of correctly declaring financed properties on the 2025 income tax return. It covers various aspects, such as how to include details of a property bought through a bank or construction company, and what costs (like broker fees and registration costs) should be included in the declaration. The video stresses the importance of accurate reporting to avoid future tax issues, especially when selling the property. The presenter explains how to calculate payments made over time, including interest, and the legal basis for claiming these expenses, helping viewers minimize taxes by ensuring accurate property cost reporting.

Takeaways

• 😀 Properly declaring financed properties in the 2025 income tax return is crucial to avoid errors that could impact future property sales.
• 😀 It's essential to correctly report the details of the property, including its financing source (e.g., bank or constructor), contract values, and monthly payments.
• 😀 The tax declaration process can be completed through the official software, pre-filled options, or online declarations, which are all available for use.
• 😀 Always ensure the correct year and amount are entered, as the Federal Revenue requires detailed yearly payment tracking, including interest and adjustments.
• 😀 In the description section, include critical information like the property's type, the financing entity, and all relevant costs such as registration fees and commissions.
• 😀 If you paid real estate brokerage fees, remember to include them in your declaration, as they are considered part of the property's acquisition cost.
• 😀 Each payment made toward the financed property, including down payments, monthly installments, and additional costs, must be accurately reflected in the income tax declaration.
• 😀 When declaring your property, do not enter the full contract value at once. Instead, report the actual payments made in each year to reflect your financial progress.
• 😀 Ensure that any adjustments to the property, such as interest and fees, are included to help reduce future capital gains taxes when selling the property.
• 😀 Following the guidance provided in the relevant legal documents (such as Instruction Normative 84 of 2021) ensures the proper inclusion of interest and charges on financed properties.

Q & A

What is the main purpose of the video?

The main purpose of the video is to guide viewers on how to correctly declare financed properties in their 2025 income tax return, including the necessary details about the process.

Why is it important to declare financed properties correctly in your tax return?

Declaring financed properties correctly is crucial because incorrect declarations can lead to issues later, especially when selling the property. It can also affect how much tax you will need to pay when selling.

What should viewers do if they realize their property declaration is incorrect?

If viewers realize that they declared their property incorrectly, they should correct it as soon as possible to avoid having incorrect information on record, which could affect their tax liabilities.

How can viewers download the tax declaration program?

The video mentions that the link to download the tax declaration program will be provided in the video description, making it easy for viewers to access.

What are the main sections involved in declaring a financed property?

The main section to focus on when declaring a financed property is the 'Bens e Direitos' (Assets and Rights) section in the tax declaration program. In this section, you can select 'Bens e Imóveis' (Assets and Properties) and choose the appropriate property code.

What details should be included in the property description when declaring a financed property?

The property description should include the type of property (e.g., house or apartment), the acquisition date, the financing details (e.g., bank or builder), the contract amount, any down payment, registration fees, brokerage fees, and the total amount of installments paid during the year.

Can brokerage fees be included in the property acquisition cost?

Yes, brokerage fees can be included in the property acquisition cost if the buyer paid them. The tax declaration instructions specify that if the buyer paid the brokerage fee, it should be included in the total acquisition cost.

What should be done if the property was purchased in a different year than the one being declared?

If the property was purchased in a different year, the declaration should reflect the amounts paid in the correct years. For example, if the property was purchased in 2023, the payments made in 2023 should be declared, and the declaration for 2024 should reflect the payments made in that year.

How should financed property payments with varying interest and amounts be handled in the declaration?

For financed properties, payments with varying amounts and interest should be declared based on the exact payments made. The viewer is advised to check their monthly bank statements or financing documents to accurately sum up the payments, including interest and adjustments.

What impact does declaring the correct acquisition cost have when selling a property?

Declaring the correct acquisition cost, including all payments made such as interest, registration, and brokerage fees, will lower the taxable gain when selling the property. A higher declared acquisition cost reduces the amount of tax owed upon the sale.