How to Declare Income Tax and Debt Loans
Income Tax 2017/2018! Got personal loan, financing, personal credit, I owe on the overdraft and credit card, I need to declare in income tax ? One of the most common mistakes taxpayers citizens is not to declare the “Income Taxes” the loan and financing obtained in the previous year the PIT statement, example: who took loans and financing in the year 2017 shall state the period of the “Declaration of PIT 2018 “.
Financing and loans should be reported in the “Debt and Reals” form in the “Annual Adjustment Statement”. The contributing citizen includes the information of the creditor, inform the zero balance on 12/31/2016 and the balance due on 12/31/2017. The financing of vehicles or real estate financing or debit balances above R $ 5 thousand by check and credit card must be declared, that is, all debts and liens in excess of R $ 5,000 reais, as of December 31, 2017, need to be informed in the ” 2018 Declaration “.
Income Tax Statement 2018
It is common for credit borrowers to make a lot of mistakes in statements, especially for omissions or data releases related to debts from financing and personal loans. These modalities are what most lead the taxpayer to the fine mesh. Read also: How to declare loan in IRPF.
Debts to be declared
All debits and credits, debts acquired with personal loans, overdrafts, payroll loans, revolving credit card loans, consortia or financing of real estate and vehicles with values above R $ 5 thousand, must be reported in the ” Annual Income Tax (IRPF) “in the field” Debts and Real Reals “.
Why declare debts and debts?
With the declaration of debts in the ” Annual Income Tax ” (IRPF) the taxpayer demonstrates where a part or all of the money for the acquisition of the goods came from, thus avoiding an unjustified difference in the patrimonial increase of the citizen. Whoever made financing for the purchase of residential or commercial property, automobile, motorcycle, truck or any asset with financing, must declare. Another important detail, the goods purchased with the financing resources should be declared as part of the equity in the field “Goods and Rights”.
It is worth remembering that any purchase of goods must be proven the origin of the resources, if it is a financing or personal loan, this should be mentioned in the declaration, however debts contracted and paid in the same year need not be stated in the declaration.
Loan between individuals
In Brazil or in any corner of the world, the “loan between people” happens naturally, but in most transactions are not legalized or formalized as they should be, however, this transaction must be declared in the “Income Tax”, the taxpayer who lent , informs the amount borrowed in the field of “Law and Other Credits”, inform the borrower’s CPF and necessarily describe the conditions of the loan.
The taxpayer who received the loan of a certain amount, declares the amount in the field of “Debts and Real Charges”, also informing the taxpayer’s CPF Creditor. If the “private loan” had an interest increase, this information must be declared in the IRPF. If there is capital gain from the transaction, the creditor will suffer from the taxation of 15% of the gain, as determined by current legislation.
Declaring a loan in the Income Tax being a couple is extremely important that both declare the “Income Tax”. If one spouse declares and another does not, some divergence of data may occur, and the IRS may call or call them for further explanation.