Did you use the FGTS for your own home? See how to declare your Income Tax without falling through the cracks
Launching the FGTS withdrawal for down payment or payment of property needs to be done without errors, according to O Antagonista, which details where to fill in each amount.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM O ANTAGONISTA · 2 MIN
Anyone who used their FGTS balance to make a down payment or pay off their own home needs to be careful when filling out their Income Tax. According to O Antagonista, reporting this use without errors is what separates a calm statement from the risk of falling through the cracks.
The exemption exists, but it has a condition. According to the same publication, anyone who withdrew FGTS in the previous year is exempt from tax, as long as they can prove the destination of the balance to the property. In practice, the declaration depends on documents that link the withdrawal to the purchase or payment.
The official Revenue program has the Exempt and Non-Taxable Income tab. In it, the withdrawal is launched with code 04, which indicates the release of FGTS to the taxpayer. The amount must be exactly the amount withdrawn from the linked account, and the paying source is the Caixa Econômica Federal CNPJ. The amount does not go towards expenses: it adds to the total cost of housing.
The property is included in Assets and Rights, in the Real Estate group, based on the residence deed. The market value must not be changed. According to O Antagonista, assets should only grow with real costs paid out of pocket and with the balance retained. In couples with separate accounts, each spouse declares the amount withdrawn from their own account. The main owner of the asset records the sum in the assets, and the other spouse records the withdrawal in exempt income, with a note in the text field, to avoid double entry.
Finally, the guideline is to keep the institution's statement, the Caixa release receipt, the financing contract and the deed for at least five years. These documents support the declaration in the event of any verification.
What changes for the investor
For those who invest, the topic weighs more on financial planning than on quotes. A declaration made in error can generate disputes with the Tax Authorities and divert attention from the family budget, in addition to interfering in decisions about real estate credit and the division of income between property and investments. In the facts found, there is no direct effect on share prices, interest rates or dollars, and this article does not recommend the purchase or sale of assets.
Automatically translated from Portuguese.
