Income Tax 2023: How to Declare Rent Amounts Received | Income tax
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All payments received with rent must be reported on your annual income tax return.
How are rents received announced?
If the landlord receives a rent amount higher than the current exemption limit (R$1,903.98 per month)Income tax must be collected on a monthly basis carne-leão softwarewhich is available in IRS Web site.
When filling out the annual adjustment declaration, it is necessary to import the data from the record book into the program that generates the declaration. The amount must be included in the “Income received from individuals” form.
However, Karn-Liao only needs to be paid by those who do Real estate rental to individualsAccording to Joao Eloy Oleniki, CEO of the Brazilian Institute of Planning and Taxation (IBPT).
“Those who rent to a legal entity must put it in the statement as ‘income received from a legal entity.’ In this case, there is no need to pay the lion’s share,” he explains.
What if I don’t complete my lion bill every month?
The clue is for the taxpayer to download the booklet software, enter the tax due and pay the penalty and interest before filing the tax return.
What if my rent is less than R$1,903.98 per month?
In this case, the amounts received must be reported in the “Taxable Income Received from Individuals” form, in the “Other Information” tab and in the “Rentals” field.
If more than one rent is received per month, the taxpayer must add up the values and report the total amounts received, month by month.
For landlords with more than one rental property, for example, it is necessary to record all receipts. If the sum of rents received exceeds the exemption limit, the tax will be charged, explains IBPT Director Carlos Pinto.
He explains, “It is recommended that entries and exits be recorded in a cash book. In this way, the group is associated with the individual and not with the source of income.” “It does not matter if the contract is one or more. What will be taken into account for collection is the sum of the values. Therefore, it is necessary to check this in the cash book and send it.”
It is also important to remember that the landlord can exclude from the rent the total amount paid in the IPTU if he has paid the tax.
See below what is required to declare income tax in 2023:
- Those with taxable income above R$28,559.70 in 2022. The amount is the same as last year’s IR return;
- Taxpayers who received exempt, non-taxable or taxable income exclusively from source, the amount of which was greater than R$40,000 last year;
- Who, in any month of 2022, obtained capital gains from the sale of assets or rights, subject to taxation tax, or carried out operations on stocks, commodities, futures and similar exchanges whose total amount was greater than R$40,000.00 (forty thousand R$) res ), or with the calculation of the net taxable gains;
- Those exempt from capital gains tax on the sale of residential property, followed by the acquisition of another residential property within 180 days;
- who in 2022 had a total revenue of more than R$ 142,798.50 in rural activity;
- who, as of December 31, 2022, owned or possessed goods or rights, including open land, with a total value of more than R$300,000;
- who became a resident of Brazil in any month and remained in that status until December 31, 2022.
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