Have you invested in an SME loan platform? Loan interest received in this context as well as repayment defaults must be stated in very specific columns. Here is the procedure to follow in order not to make a mistake in your 2023 income statement.
Above all, you must not declare on line 2TR the interest on cooperative loans and minibons, which must be disclosed on line 2TT. This warning from DGFiP in the practical brochure of the 2024 statement aims to avoid any confusion between the interest from crowdfunding (or rather crowdlending) investments, since box 2TR is dedicated to interest from more traditional banking investments, such as booklets.
PEL, bank book, term account … how to enter your 2023 interest for tax in 2024
Like any form of investment income, income from crowdlending or participatory lending to SMEs must be disclosed. Since 2017, the tax administration has included a dedicated line in the income statement, in the section on income from securities and movable property: 2TTTo interest on cooperative loans and minibons. This line is, in principle, filled in beforehand in the declaration. If you are one of those who have invested in crowdlending, you can refer to the individual tax form (IFU) that you should have received from the platform(s) to check that the figure provided matches.
The effect of the flat tax
Since the entry into force of single fixed charge (PFU) or fixed tax, interest is taxed by default at 30% (including 12.8% income tax). In order to waive this flat tax and stick to the progressive scale, it is therefore necessary to notify the tax authorities by ticking the box box 2OP of his statement. This option is generally only interesting for non-taxable or low-tax households.
Income statement: the special box to reduce your tax
Exchange rate loss: different taxation depending on the loan year
Investing in crowdlending also means exposing yourself to price losses, especially in the event of default on the part of the borrower and therefore non-repayment of the loan. Since the establishment of a legislative framework for crowdlending in October 2014, the taxation of it has developed significantly. Especially in 2016: Since this date, individual lenders can deduct their capital losses from income from the same investments or investments of the same type. Originally reserved for traditional loan contracts offered by IFP platforms (1)this right of deduction was then extended to include mini-bonuses.
For minibons or participating loan contracts taken up from 2017, the rule is as follows: deduction for losses up to 8,000 euros per year.
To be able to track the losses incurred according to their year of origin, the integrated income statement 5 boxes intended to collect net losses on equity loans and unallocated mini-bonds carried forward to the year 2022 arising from the year…:
- 2TU for losses from contracts signed in 2019;
- 2TV for loss from 2020;
- 2TW for losses from 2021;
- 2TX for losses from 2022;
- 2TY for losses from 2023.
Remember: In order to be eligible for deduction, these losses must be recognized as definitively irrecoverable. In this case, you have a period of 5 years to deduct your crowdlending income.
To find out the amount of attributable losses, you must refer to the user manual sent by the platform. It is up to you to subtract, hand, from your 2023 winningsand complete your declaration accordingly.
Example. You received 100 euros in interest in 2023 and at the same time recorded 80 euros in losses linked to a loan contract signed in 2023. In this case, enter 20 (instead of 100) in box 2TT, and nothing in box 2TY. Conversely, if your earnings in 2023 are limited to 50 euros, enter zero in box 2TT and enter the difference (30 euros) in box 2TY. This amount can be deducted from any future earnings.
The lines to check and/or correct on the statement
In summary: in case of charged (new) loss, you must correct your statement using the information from the platform in the IFU. Ultimately, here’s what the relevant boxes should contain:
- 2TT: the amount of interest on share loans received in 2023 (usually pre-filled amount).
- 2CG: the amount of 2023 interest already subject to social contributions.
- 2CK: the amount of income tax already collected according to PFU.
- 2TU: the amount of losses from loan contracts signed in 2019.
- 2TV: the amount of losses from loan contracts signed in 2020.
- 2TW: the amount of losses from loan contracts signed in 2021.
- 2TX: the amount of losses from loan contracts signed in 2022.
- 2TY: the amount of losses from loan contracts signed in 2023.
Note that there may be a difference between the amounts in box 2TT and 2CG. The first corresponds to the interest amount minus any imputed losses, the second represents the total gross interest for 2023 which has been subject to social contributions (without deductible CSG).
A comparison of a selection of crowdlending platforms
(1) Crowdfunding intermediary
