Cryptocurrencies have become increasingly popular among many investors worldwide and in Brazil. However, with the growing popularization of this digital currency, many doubts also emerged about how to declare cryptocurrencies in income tax Brazilian. So, understand more about how this process works and its steps.
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The Federal Revenue, the body responsible for the procedural organization of the IR, defined since 2019 the mandatory presence of cryptocurrencies in the income tax declaration. In this sense, this act must be carried out by people who have made a profit in relation to what they have bought in cryptocurrencies. That is, those who have income from such applications will have to declare it in the Income Tax.
Therefore, only when sales of cryptoassets exceed R$35,000.00 per month will the investor need to add them to his list of income tax earnings.
In cases where the investor has not been able to obtain an income greater than R$35,000.00 per month, he it is not necessary to add the information in the “Exempt and not taxed income”, since there was no incidence of tax.
When declaring crypto assets on the IR, it is necessary to fill in some information about the investment, such as the amount of cryptocurrencies, personal data of the person who made the sale, where the cryptocurrency is stored, among others data.
In addition, it is worth mentioning that each cryptocurrency has its own code. Therefore, we have 99 for tokens or other crypto assets, 01 for bitcoin (BTC), 03 for stablecoins, 10 for non-fungible tokens and 02 for altcoins.
With this information, do not waste any more time and take the opportunity to make the 2022 Income Tax return containing data on invested cryptocurrencies. It is worth noting that last year's cryptocurrency transactions can also be declared.
