Learn how to declare a house, apartment and car on Income Tax

The declaration of goods and rights of the Income Tax has news in 2022. The Federal Revenue improved the IR program and divided the form into groups, where are the codes that must be used to declare house, apartment, car, motorcycle and truck, among others.

Even if it is financed, the movable or immovable property must be reported to the tax authorities, be it the holder or the dependent. Couples who have assets in common and declare the IR separately must inform them in one of the statements, mentioning, in the “Discrimination” field, that the property belongs to the couple.

Listing the assets in the declaration is one of the first steps to know if the taxpayer will enter as a dependent or if he must report separately to the Revenue. If the sum of assets and rights on behalf of the citizen exceeds R$ 300 thousand on 12/31/2021, he will be obliged to declare the IR (see here for other rules that oblige to declare).

The deadline for submitting the document has been postponed to May 31. Previously, it expired on April 29. Whoever is obliged to declare and misses the deadline pays a minimum fine of R$ 165.74, which can reach 20% of the tax due.

How to declare property and vehicle?

House, car, apartment, motorcycle and other assets and rights must be declared in the “Assets and Rights” sheet. For each one, open a new sheet. Choose the group you belong to and then search for the corresponding code. Apartment, for example, goes in the code is 11; houses are declared in 12).

It is also necessary to inform the date of purchase, the seller’s CNPJ or CPF, and fill in the “Discrimination” field with the information if the property is paid off or financed.

“When you buy a good, you either pay in cash or in installments. And this must be in the declaration”, explains Valdir Amorim, IOB’s tax coordinator. Goods must always be declared at purchase price.

For house, apartment and land, the taxpayer must fill in the fields to enter the IPTU registration (Imposto Predial e Territorial Urbano), the address, area, registration and in which registry office the property was registered. This information is usually on the property tax booklet.

To declare cars, motorcycles and other vehicles, it is necessary to choose the code 01 and inform the Renavam (National Registry of Motor Vehicles), which can be consulted on the website of the Detran (Department of Traffic) in your state.

What to do when the asset is financed?

“The IR declaration is on a cash basis. It is necessary to declare where the good came from, the name of the person who sold it, whether it is financed or not”, says Amorim. For those who financed, it is necessary to inform only the amount paid in the year.

If the asset had already been purchased in 2020, add up all the installments paid in 2021 and add them to the amount already declared in 2020. Enter this total in “Status on 12/31/2021”.

“In the case of a property or car financed, the declared value must be the amount actually paid in 2021 and not the total value of the asset. Thus, each year the amount paid is added until it is fully paid off”, says Adriana Alcazar, partner. director of Seteco Consultoria Contábil.

Those who financed the property in 2021 must leave the “Status on 12/31/2020” field blank. The total amount paid must be informed in “Discrimination”, making it clear if the FGTS money was used. (Service Time Guarantee Fund). Then, in the “Exempt and Non-Taxable Income” form, it is necessary to declare the FGTS withdrawn for the purchase of the property.

How to declare a good purchased in 2021?

Those who financed the property in 2021 must leave the “Status on 12/31/2020” field blank. The total amount paid must be informed in “Discrimination”, making it clear if the FGTS money was used. (Service Time Guarantee Fund). Then, in the “Exempt and Non-Taxable Income” form, it is necessary to declare the FGTS withdrawn for the purchase of the property.

The same rule applies to cars. The field on “Status on 12/31/2020” must be reset. If the asset was purchased in cash, the total amount will be informed in the “situation on 12/31/2021” field.

How to declare a good sold in 2021?

The taxpayer who sold a car, property or other asset must write off the item, leaving the “Situation on 12/31/2021” field blank. In the “Discrimination” field, detail the sale, informing how much was paid, name and CPF or CNPJ of the buyer, among other data related to the good sold.

Financing does not go into debt

The financing of automobiles and real estate must not be declared in the field “Real Debts and Encumbrances”, because the good itself is as collateral. Therefore, just include them in the “Assets and Rights” field of the declaration.

In the “Real Debts and Liens” form, the taxpayer is required to report debts above R$5,000, such as payroll-deductible loans or personal loans, among others. In this case, the taxpayer adds up the installments paid in 2021, deducting the total declared in 2020 and informs the amount that remains to be paid in “Situation on 12/31/2021”.

If the debt was incurred in 2021, inform the total installments paid in “Amount paid in 2021” and how much remains to be paid in “Situation on 12/31/2021”.