How to fill out the Individual Income Tax Return form RN for 2024: instructions

Guide to Completing the Redditi Persone Fisiche 2024 Model: Quadro RN

The declarative tax season has begun, and for those who choose the Redditi Persone Fisiche 2024 model, the Quadro RN must be filled out.
The Redditi Persone Fisiche 2024 model must be submitted by October 15, 2024.
Here are instructions to avoid errors when completing the Quadro RN.

Who is Required to Submit the Redditi PF 2024 Model?

Those required to submit the Redditi PF 2024 model include:
– Sole proprietors with business income, also in the form of participation;
– Sole proprietors with self-employment income;
– Sole proprietors with various incomes listed in article 67 of the Tuir;
– Income from Trust as beneficiaries.

The core of the Redditi PF 2024 model is called Quadro RN and is dedicated to the determination of Irpef.
This section summarizes incomes, deductions, tax credits for the year.
Given its importance, filling it out requires special attention.

How to Fill out the Quadro RN of the Redditi PF 2024 Model

The first part of the Redditi Persone Fisiche 2024 Model is used to indicate the incomes generated.
This includes real estate incomes, agricultural incomes, incomes from buildings, dependent employment, self-employment, business incomes under ordinary and simplified accounting, consortium business incomes, income from participation, financial capital gains, other incomes, breeding, incomes subject to separate taxation.

Column 2 of the Quadro RN is for business income recipients who need to benefit from tax credits from investments in mutual funds.
It also covers tax credits from taxes paid by participating companies in privileged tax territories.

Column 3 is dedicated to compensable losses with credit for mutual funds and indirect credit.

Deductions in the Redditi Persone Fisiche 2024 Model

The Quadro RN of the Redditi Persone Fisiche 2024 model allows for deductions that affect the tax base, reducing the taxable income and consequently the tax to be paid.
Deductions can also impact the income bracket for tax calculation.

Among these deductions is the deduction for the main residence, applicable only to properties used as a main residence not subject to IMU.
The deduction amount equals the cadastral income of the property and related accessories.
This deduction does not apply to property owners not residing in Italy.

The deduction for the main residence must be reported in line RN2 by indicating the amount in line RB10, column 18.

Another important deduction includes other deductible expenses totaling in line RP 39 to be reported in line RN3.
These can be deductions for alimony, social security contributions for domestic workers, charitable donations, medical expenses, and assistance for disabled individuals.

After these deductions, the taxable base is obtained to calculate the gross tax.

Tax Deductions: Changes with the Assegno Unico e Universale

The gross tax can differ significantly from the net tax due to deductions calculation.
For pension income below €7,500, no tax is due.

The first deductions relate to dependents to be indicated in line RN6.
The deduction for a dependent spouse cannot exceed €800, decreases with higher income, and is canceled for incomes over €80,000.

In line RN6, column 2, deductions for dependent children are indicated, affected by the introduction of the Assegno Unico e Universale.
For children over 21 not eligible for the Assegno Unico e Universale, the maximum deduction is €950, decreasing with higher income.
Deductions for expenses on dependent children like university fees can also be claimed.

Line RN7 includes deductions for salaries, pensions, and other incomes, varying based on income type and amount.

Line RN12 is dedicated to rent deductions which can include deductions for housing interventions, seismic measures, green bonus, facade bonus (for those who started benefiting from it under the previous regulation), and super bonuses.
These deductions are detailed in the RP section.

Other deductible expenses include healthcare costs, Start-Up establishment, and other deductible expenses.

Final Tax Calculation in the Quadro RN of the Redditi PF 2024 Model

All mentioned amounts are totaled to determine the deductions, which are then subtracted from the gross tax to determine the net tax due or the excess to be refunded.

Once this calculation is done, tax credits obtained must also be considered within the Quadro RN of the Redditi PF 2024 model to be subtracted from the net tax due.