Income Tax: expenditure on inventory does not give a deduction, but must be declared

The taxpayer’s expenses with inventory, which includes fees, emoluments and attorney’s fees, are not deductible in the income tax return. Despite this, these expenses must be declared by the taxpayer.

The deadline to declare the IR ends this Tuesday (31). Doubts about inheritance are among the main contributors. See the answer from IOB consultants who, in partnership with Folha, answer readers’ questions about the 2022 Income Tax.

I’m making my father’s final estate statement. We are three heirs, but I have paid all the expenses of the probate. Can I enter the expenses on my statement or at the end of the estate? (SGP).

There is no legal provision for deducting expenses with inventory, such as fees, emoluments and legal fees. Although not deductible, expenses with legal fees must be entered in your statement on the Payments Made form, code 60. Also inform the name, CPF of the lawyer and the amount paid. Enter the other inventory expenses in code 99 of the same sheet.

I am making a final estate declaration where there are 14 heirs with equal shares, that is, 1/14 (there are several assets in this situation). The program asks, for each CPF, a percentage with only two decimal places, that is: 7.14%. This percentage multiplied by 14 does not result in 100% and the program requires 100%. What procedure should I adopt? (AT).

The sum of the amounts in R$ transferred to the 14 heirs corresponded to 100%. Thus, in relation to each of the assets that are in this situation, inform each of the heirs of the difference to reach the composition of 100%, respecting the value in reais in the heir’s declaration, as the transfer was made.

My son, a minor, received property as an inheritance. Does he lose his dependent status for this reason? (PRB).

Not. The simple receipt of inheritance or donation does not entail the loss of dependent status. However, goods received by the dependent must be included in the parent’s declaration. The value corresponding to the goods received is informed in the Exempt and Non-Taxable Income form, by the respective code. If there is income generated by these goods, they will have to be taxed in the declaration of the person responsible.

Is usufruct considered property for capital gain? I have the usufruct of a property and I own another, whose value is well below R$ 440 thousand. If I sell this property, will I be entitled to the capital gain exemption as it is my only property? (VSF).

Not. You will not be entitled to the capital gain exemption because, for legal purposes, you own more than one property. In this case, the usufruct is considered a property.

I received precatory of labor action filed by my father (he is now dead) against the Union. How do I declare this value? (DM).

Inform the Accumulated Earned Taxable Income form. Choose the form of taxation: “Annual adjustment” or “Exclusive at source” (the latter tends to be more advantageous). Fill in all the data requested in this form, especially the number of months to which the action refers.

I donated two properties to the children and collected the Dare/SP from the corresponding amounts. I paid the bills in the names of each child. Who declares payments: me or each of the children? Do they enter the Payments Made tab? (RB).

The payment of state tax is not reported in the IR. Enter the donation data in the Donations Made form, code 81, with CPF and the name of each child and the amount donated. In the Assets and Rights form, write off the properties and enter, in the Discrimination field, the children’s data and the payment of state tax. Your children must include the properties on their declaration.

My father died in 2020 and left a house. My mother is a sharecropper and the other 50% of my father was divided between his daughters (my sister and I). What square footage do I use in the Total Area field, as I only own 25% of the property? (HERE).

Inform the total area as it is in the deed. The footage can be obtained from the property registry, IPTU guide or some other suitable document.