the subtleties of the IFI 2024 declaration

Those liable for wealth tax must complete their declaration. Here is how to properly complete the delicate 2042-IFI, dedicated to this tax.

Those liable for the real estate wealth tax (IFI) must declare their assets under the same conditions as income, that is to say by the end of May or the beginning of June depending on the department of residence, or before Tuesday May 21 for those who have no choice but to declare on paper.

Income tax 2024 ^*

Hover over a department to view the tax filing deadline.

*Declaration deadlines 2024 2023 revenue

Households subject to the IFI must attach a 2042-IFI to their income declaration. In 2023, nearly 180,000 households were liable for this tax on real estate assets.

Real estate wealth tax: 2 increases and 2 decreases for the successor to the ISF

How to value your assets?

You are concerned if your net real estate assets have a value greater than 1,300,000 euros. To find out, you have to add up the value of all your real estate assets. These may be properties held directly (houses, apartments, land, etc.) or via company shares (SCPI, SCI, etc.). In the case of property that does not belong to you completely (joint ownership), you retain the value of your share. You then deduct the liabilities, essentially the loans for which you remain liable for the acquisition of the property subject to the IFI, as well as the work and certain taxes (IFI and land tax).

Exemption and reduction

Please note that your professional goods are exempt. As for your main residence, it benefits from a 30% reduction, provided you own it directly (if you have several residences, only one can benefit from it).

Assets are valued at the household level, that is to say the single person or the married/pacified couple, as well as the minor children whose assets they manage. Special features of the IFI:

• notorious cohabitees are jointly and severally liable and must file a joint IFI declaration, attached to the income declaration of one of the two partners (check box 9GL). The same applies to people married in 2024 who have opted for separate taxation of income in the year of marriage (check the box). box 9GM);
• adult children subject to income tax nevertheless form their own IFI household. You must not count their assets in your IFI declaration and they must file a personal IFI declaration if their own assets are greater than 1,300,000 euros (check box box 9GN).

To reattach your children or not, what is the best option?

All these conditions are assessed on January 1st of the year. This is particularly true for the value of goods, which does not remain fixed at the purchase value, even if you do not plan to sell. What matters is the price at which you could have sold the property on January 1st. To determine it, you can base yourself on the prices at which goods similar to yours sell. A database exists on the tax website, accessible via your personal space. You can also ask professionals to estimate your property.

Please note: you will receive a tax notice for your IFI in August, with the amount to be paid by September 15 (except in special cases).