When it comes to declaring your Income Tax, every detail about your financial life makes all the difference. And not everyone knows, but when sending the IR 2021 it is necessary to specify a personal loan , if you have made it over the year.

It's necessary to declare the debt this year, from March 1 to April 30, if the loan is greater than R$ 5.000 . Here's how to do it:

Who needs to declare income tax? 

People must declare the IR 2021 if it has received taxable income of more than R$ 28.559,70 in 2020. The main change this year is the declaration requirement of those who received emergency aid to tackle the new coronavirus pandemic last year.

If you who fall into this case, then you'll may have to return the amount received as aid.

How to declare the loan on IR 2021

The loan must be declared on the Real Debts and Charges form. Here, the type of financial institution in which you applied for credit will be defined. You can choose to: 

  • (11) for commercial banking (bank);
  • (12) for Credit, Financing and Investment Society;
  • (13) other legal entities;
  • (14) Individuals;
  • (15) Loans contracted abroad;
  • (16) Other debts and liens.

If you have more than one loan, you need to create an item for each of the lenders. 

Loan description 

In the “Discrimination” column, it will be necessary to fill in details such as the reason for the loan, the Institution's CNPJ and the current debt amount.

In the "Situation" field, just put your loan status on the last day of the previous year (12/31/2019) and on the last day of the year of the declaration (12/31/2020). Check this information with your bank, the amounts are sent in the earnings report. 

Other types of loan 

Financing of real estate, vehicles, secured loans and contemplated consortia must also be declared in the Income Tax. For these cases, the correct section for sending the data is “Goods and Rights”.

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