(Declaration of land income 2024 the 20 key points and modifications)
Here is a summary of the constants and modifications for this year of the methods of declaring land income for your declaration; regardless of the tax residence of the taxpayer or the location of the building. Here is a summary of the 20 key points concerning the changes for the declaration of real estate income in 2024:
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Declaration of land income: Owners must declare property income for the year using forms No. 2044 or 2044-SPE, depending on the nature of the property and the tax regimes applied.
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Threshold for micro-land: The micro-land regime is applicable if land income does not exceed €15,000. Beyond that, the actual regime applies.
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Declaration of occupancy of real estate: It is necessary to update the information concerning tenants on January 1 of the year of the declaration.
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Exclusion from the micro diet: This regime does not apply if the income comes from property with specific deductions linked to certain real estate investment schemes.
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Deductions for energy renovation work: Renovation expenses allowing you to move to a higher energy class can benefit from a doubling of the imputation ceiling on overall income.
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Declaration of loan charges and interest: Deductible expenses and loan interest must be correctly declared to benefit from tax deductions.
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Tax on foreign property income: Property income from abroad may be subject to specific taxation in France, with the possibility of applying a tax credit to avoid double taxation, according to tax conventions.
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Withholding tax and termination of rental: Taxpayers must adjust their withholding tax if property income ceases following the sale or end of rental of a property.
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Regularization of co-ownership charges: The provisions for paid co-ownership charges must be regularized according to the expenses actually incurred.
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Management of Barely Owned Assets: Specific rules apply for declarations of property held in bare ownership.
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Calculation of the land deficit: The land deficit can be charged against overall income, with specific rules for deficits resulting from energy renovation work.
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Declarations for non-residents: Non-residents owning real estate in France must follow specific declaration procedures, especially after Brexit.
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Real estate company declarations: SCIs and other similar structures must file specific declarations (2072-S or 2072-C) depending on the nature of the partners and the assets held.
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Review of exceptional income: Exceptional or deferred income may be subject to the quotient system for calculating tax.
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Impact of the real regime: If the micro-land property thresholds are exceeded, income is taxed according to the actual regime, requiring a detailed declaration of income and expenses.
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Required documentation: Collection of necessary documents such as lease contracts, work invoices, and previous declarations for the preparation of the declaration.
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Tax transparency: The rules regarding tax transparency affect declarations depending on the ownership structure of the real estate.
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Insurance delegation: Insurance contributions may require specific documentation to prove coverages and amounts paid.
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Allowances and reductions: The different allowances available must be taken into account to optimize the tax declaration.
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Updating personal information: It is essential to update all personal and tenant information to ensure the accuracy of the declaration.
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published by
Denis SellierDenis Sellier
CEO @ SELLIER PATRIMOINE | Real Estate ExpertCEO @ SELLIER PATRIMOINE | Real Estate Expert
Published • 5 min
18 articles
2024 declarations of property income for residents and non-residents, what’s new?
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