The delivery of the IRS takes place between April 1 and June 30. To reduce the tax payable or increase the reimbursement, if there is room to receive it, there are several deductions that you can make, including expenses with real estate.

Expenses with real estate are all the expenses that you have had, throughout the year, to rent the house where you live or to carry out rehabilitation works, although in the latter case, for deduction purposes, only some properties are considered. In some cases, housing credit expenses may also be considered. According to the IRS Code (Article 78.º - E), with regard to property charges, "an amount corresponding to 15% of the amount borne by any member of the household is deductible from the IRS collection due by taxable persons. familiar."

Interest on loans contracted until 2011

Interest expenses on loans may be deducted from the IRS as long as they have been contracted by the end of 2011 and for the purchase of a home for own and permanent housing or permanent lease. These expenses are deductible at 15%, up to a limit of 296 euros, per household.

However, households with a taxable income of up to 30,000 euros benefit from a higher limit. At most it can reach 450 euros.

Rents under the Urban Lease Scheme

Expenses with rental properties for permanent housing purposes, paid under the urban lease regime, up to a limit of 502 euros, may also be deducted.

In the case of families with a taxable income of up to €30,000, this limit can rise to €800. An increase in the deductible limit is also applied, up to 1000 euros, for three years, for households that have transferred their permanent residence to the interior.

Expenses with real estate rehabilitation

Expenses incurred to rehabilitate a residential property can also be deducted. These charges deduct 30% from collection and have a maximum deduction of 500 euros.

The rehabilitated property does not have to be for your permanent home, that is, you can buy a property, rehabilitate it and sell it soon after, which, even so, will be able to deduct the expenses in the IRS collection.

However, only charges incurred by the owner related to the rehabilitation of:

· Properties located in urban rehabilitation areas and recovered in accordance with the respective rehabilitation strategies;

· Leased properties subject to phased updating of rents under the terms of articles 27 and following of the NRAU, which are subject to rehabilitation actions.

Landlords: what can they deduct?

On the other hand, if you have a house to rent, you can deduct a series of expenses from the rents received, as long as they are duly proven. Like for example:

· Condominium;

· Municipal Property Tax (IMI);

· Municipal taxes (sanitation, sewage or others);

· Maintenance and repair works;

· Exterior and interior painting;

· Expenses with cleaning and porters;

· Energy and maintenance of elevators;

· Energy for lighting, heating or central air conditioning.

The landlord may also deduct those expenses incurred and paid in the two years prior to the beginning of the lease, referring to conservation and maintenance work on the building, provided that the property has not been used for any purpose other than the lease.

What do I have to fill in the declaration?

If you have expenses with real estate, whether renting or a home loan, you must complete table 7 in Annex H of the IRS declaration.

This annex concerns tax deductions and benefits related to expenses and charges on real estate for permanent residence, which includes interest on housing loans.

If you've had real estate expenses, it's always worth showing them in your annual IRS statement. These deductions will maximize your tax deductions, helping you to pay less tax or, better yet, to earn a little more when calculating your IRS refunds.

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