Cryptocurrencies: learn how to declare bitcoins in IR 2022

The declaration of Income Tax 2022 will take place between March 7th and April 29th and this year brings significant changes to the cryptocurrencies e bitcoins compared to previous years.

In order for you to stay on top of the topic and learn how to correctly declare cryptoassets, we have prepared a complete article on the subject. Check it out below.

Cryptocurrencies: what changes have the IRS announced?

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Among the main changes announced by the IRS, is the creation of its own group for the declaration of digital currencies when filling out the form. Called “Cryptoactives”, it will allow the declarant to select the currency used and inform the income for the year 2021.

For this, it is necessary to pay attention to the codes assigned by the Revenue to each of the cryptocurrencies, since it is through this that the system will identify them. Are they:

  • Bitcoin: 81
  • Altcoins: 82
  • Stablecoins: 83
  • NFTs: 88
  • Tokens: 89

Another change announced by the federal agency is, regarding the minimum value for the declaration. Now, all Brazilians who have a balance above R$5,000 in digital currencies must report their income tax.

In addition, for those whose monthly transactions in the currency were above BRL 35,000 during 2021, such as during the sale of assets, the Revenue will tax according to the capital gain reported.

As has happened in recent years, after the declaration it will be necessary to issue the DARF and make the payment of the ticket until the due date at any bank or lottery.

It is important to remember that the non-declaration by those who are within the rates established by the Federal Revenue can result in punitive measures, such as fines and tax crime.

Declaration of bitcoins in IR 2022: see the step by step

1. Access the IRS system

(TecMundo/Reproduction)(TecMundo/Reproduction)Source: TecMundo

The income tax declaration can be carried out by computer or mobile devices, such as cell phones and tablets. In the first option, you must access the Virtual Service Center (e-CAC) by clicking here. For those who choose to make the declaration by mobile, just download the Meu Imposto de Renda app from the Google or Apple store.

2. Enter the chosen platform

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After accessing the website or downloading the application, you must enter your data to enter the platform. If you have already made the declaration in recent years, you can use the same login data. However, if it is the first time, just enter the account or click on “Learn how to generate the access code”.

It is important to remember that this year the Federal Revenue made it easier to fill in the information by also making available the pre-filled declaration model, which uses the information from the previous year to fill in standard information.

3. Enter the ‘Goods and Rights’ category (Declaration of purchase)

(Income Tax and Refund/Reproduction)(Income Tax and Refund/Reproduction)Source: Income Tax and Refund

To declare cryptocurrencies, you need to click on the “Assets and Rights” tab. As soon as you open it, you will be able to identify the “Good code” field to insert the number corresponding to the currency used. The software will automatically search the system, requiring the user to click on the currency name when it appears on the screen.

In the “Discrimination” field, the data at the time of purchase must be entered, such as the value, date and location. Afterwards, simply continue filling out the form in relation to other earnings and assets from the last year to finalize your statement.

4. Enter the Capital Gains – Rights/Movable Assets (Declaration of Sale)

(Income Tax and Refund/Reproduction)(Income Tax and Refund/Reproduction)Source: Income Tax and Refund

If you sold part of your digital currencies in the last year, you also need to include the information in your Income Tax. However, it is necessary to download the GCAP program to fill in information there and just import the document into the declaration portal. The software can be downloaded from this link.

Once you have downloaded it and filled in the information about the sale and monthly earnings of the coins, export the table to some folder on your computer. Then go back to the declaration form and click on the “Capital Gains” tab. Select “Rights/Charge” and click on “Import” to choose the saved GCAP file.

The system will automatically process the data and include the goods in the declaration.

5. Download DARF and make the payment

(Shutterstock/Reproduction)(Shutterstock/Reproduction)Fonte:  Shutterstock

When finalizing your declaration, check that all the data are correct and complete the procedure for generating your DARF. It is important to remember to make the payment until the due date so you do not have to bear interest costs and fines.

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