Have you invested in an SME lending platform? Loan interest collected in this context, but also repayment defaults, must be declared in specific boxes. Here are the steps to follow.
Above all, do not declare on line 2TR the interests of participating loans and minibons which must be declared on line 2TT. This warning from the DGFiP, in the practical brochure of the 2023 declaration, aims to avoid any confusion between the interests arising from crowdfunding (or rather crowdlending) investments, since box 2TR is dedicated to the interests of more traditional banking investments, such as than booklets.
PEL, bank book, term account… how to declare your interests in 2022 for taxes in 2023
Like any investment income, those derived from crowdlending, or participating loans to SMEs, must be declared. Since 2017, the tax authorities have thus included a dedicated line in the income declaration, under the income from securities and movable capital section: the 2TTFor interests of equity loans and minibons. In principle, this line is pre-filled in the declaration. If you are one of those who have invested in crowdlending, you can refer to the single tax form (IFU) that you should have received from the platform(s) to check that the figure entered is consistent.
The impact of the flat tax
Since the entry into force of single lump sum levy (PFU) or flat tax, interest is, by default, taxed at 30% (including 12.8% income tax). To waive this flat tax and stick to the progressive scale, it is therefore necessary to let the tax authorities know by ticking the box 2OP of his declaration. This option is generally interesting only for non-taxable or low-taxed households.
Income tax return: the special box to reduce your taxes
Capital losses: different taxation depending on the year of the loan
Investing in crowdlending also means exposing yourself to capital losses, in particular in the event of default by the borrower and therefore non-repayment of the loan. Since the establishment of a regulatory framework for crowdlending in October 2014, its taxation has evolved significantly. In 2016 in particular: since this date, individual lenders can deduct their capital losses from the income derived from these same investments, or from investments of the same type. Initially reserved for classic loan contracts, offered by IFP platforms (1)this deductibility was then extended to minibons.
For minibons or participating loan contracts taken out from 2017, the rule is as follows: deductibility of losses within the limit of 8000 euros per year.
In order to be able to follow the losses incurred according to their year of origin, the declaration of integrated income 5 boxes intended to collect the net losses on participating loans and minibons not charged to the year 2022, coming from the year…:
- 2TU for losses from contracts signed in 2018;
- 2TV for losses from 2019;
- 2TW for losses from 2020;
- 2TX for losses from 2021;
- 2TY for losses from 2022.
Reminder: to be deductible, these losses must be recognized as definitively irrecoverable. In this case, you have a period of 5 years to charge them your income from crowdlending.
To find out the amount of chargeable losses, you must refer to the IFU transmitted by the platform. It is up to you to subtract, the hand, from your earnings 2022and complete your declaration accordingly.
Example. You received 100 euros in interest in 2022, and at the same time recorded 80 euros in losses linked to a loan contract signed in 2022. In this case, you will have to indicate 20 (instead of 100) in the 2TT box, and nothing in box 2TY. Conversely, if your earnings in 2022 are limited to 50 euros, you will have to put zero in the 2TT box and indicate the difference (30 euros) in the 2TY box. This amount may be deducted from any future earnings.
The lines to check and/or correct on the declaration
In summary: in the case of (new) imputed losses, you must correct your declaration using the information provided by the platform in the IFU. Here is, in the end, what the boxes concerned must contain:
- 2TT: the amount of interest on participating loans received in 2022 (amount normally pre-filled).
- 2CG: the amount of interest for 2022 already subject to social security contributions.
- 2CK: the amount of income tax already deducted under the PFU.
- 2TU: the amount of losses from loan contracts signed in 2018.
- 2TV: the amount of losses from loan contracts signed in 2019.
- 2TW: the amount of losses from loan contracts signed in 2020.
- 2TX: the amount of losses from loan contracts signed in 2021.
- 2TY: the amount of losses from loan contracts signed in 2022.
Note that there may be a difference between the sums appearing in boxes 2TT and 2CG. The first corresponds to the amount of interest net of any imputed losses, the second represents the total gross interest for 2022, which has been subject to social security contributions (without deductible CSG).
Comparison of a selection of crowdlending platforms
(1) Crowdfunding intermediary