See how to declare sale and construction of property in Income Tax 2022

The taxpayer obliged to declare the Income Tax must inform his assets to the Federal Revenue. The deadline for rendering accounts ends on Tuesday (31st). House, apartment and car go in the “Assets and Rights” sheet, as well as all the transactions linked to them.

This means that anyone who sold or bought property in 2021 must declare this information to the tax authorities. The same goes for those who built a property on land they already had. Among the main doubts about house and apartment are how to declare in the aforementioned situations.

See the answer from IOB consultants who, in partnership with Folha, clarifies readers’ doubts about Income Tax 2022.

​I sold a property for R$ 325 thousand. I have another small one, under construction, which should be ready in 18 months. Do I have to pay real estate profit on this sale? (YOU).

As you already have another one under construction, there is the ownership of two properties. Therefore, in the sale of one of them, you will not be entitled to the exemption of the only property sold for a value equal to or less than R$ 440 thousand. You can be exempt if you buy another residential property using all R$325,000 within 180 days after receiving the sale money. If you are not going to buy another one, you will have to download the GCap for the year of sale and check if there will be tax to pay.

How to declare compensation received from a tenant? I have a rented house that was damaged by the tenant. I received compensation for the damage caused to the property. Is this amount taxable? How do I declare? (ROM).

Not. The indemnity, intended exclusively for the necessary and indispensable repairs for the recovery of the rented property, is not taxable income (the indemnity does not generate an increase in equity). The amount received is informed on the Exempt and Non-Taxable Income form, code 26, indicating the name and CPF of the tenant. In the Description field, enter “Indemnification for property damage”.

Does selling a site have a capital gain? I sold a place and, if I receive the amount in apartments as payment, am I exempt from income tax on capital gains? (AJO).

Not. The exemption applies in the case of sale of residential property and provided that the proceeds from the sale are used to purchase another residential property within 180 days of the actual sale of the property.

How to declare donation value and apartment purchase? My wife transferred R$400,000 to my account and bought an apartment. How to proceed in relation to the money and the purchase of the property? (HC).

In her statement, enter the BRL 400,000 on the Donations Made form, code 80, as your name and CPF. In her statement, inform the R$ 400 thousand on the Exempt and Non-Taxable Income form, code 14, with her name and CPF. In the Assets and Rights form, group 01, code 11, inform all the requested data about the property. In the Discrimination field, enter the source of funds for the purchase. Leave the 2020 field blank. In the 2021 field, enter the total amount paid for the property up to that date.

How declare a property exchange in the Income Tax? My daughters exchanged a house with each other (there was no money in the transaction). The two have different IR values. What’s the procedure? (TSG).

Both inform the Assets and Rights tab, in the Discrimination field, the transaction details and buyer data (name, CPF and transaction details). Leave the 2021 field blank. Open new item for the house. They leave the 2020 field blank and, in the 2021 field, they inform the same value of the house that was in the declaration of both (this way their assets do not change).

I sold property in 2020 with capital gain. I received the amount twice (February and March), generated the Darfs and paid, but when importing the data for the 2021 declaration there was an error. With that, the IRS sent a billing notice. I fixed the error. How to make the rectifier? (JCO).

Correct the error in filling out the GCAP 2020 that was not noticed and generated the charge, and import again and send the DAA 2021 rectifying declaration, so that the declaration can be reprocessed and regularize the aforementioned error. Remembering that it is in the “Taxpayer Identification” form, at the top of the page, that you will indicate that it is a “Rectifying Declaration”, filling in the receipt number of the previous declaration to be rectified.

I built a house and paid the bricklayer with receipts. How to declare?

It is important to highlight that the cost of building the property must be proven with documentation, which can be, according to the Federal Revenue, invoices for expenses with legal entities and receipts for expenses with individuals. In the “Assets and Rights” form, declare the sum of the amount actually disbursed in the “Status on 12/31/2021” field, added to the amount already imported from the previous declaration that is in “Situation on 12/31/2020”.