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A Stock Investor Had Losses in His Investments and Forgot to Declare. Real Case Shows How Errors in Variable Income Declaration Can Cost Hundreds of Thousands of Reais, See Rules to Compensate Losses in the Stock Market and Recover Values via PERD/COMP
A Brazilian investor reported only the profits from variable income and omitted about R$ 900 thousand in losses accumulated over the base year 2024. As a result, he paid more than R$ 800 thousand in Income Tax that he shouldn’t have.
The case was identified by the IRTrade platform, following a review of brokerage notes and reports, and turned into an alert for best practices for those trading stocks, REITs, and other assets on the B3. According to a report from InfoMoney, the accounting director Wesley Beneventi explained that the loss occurred in mid-2024 could have offset net results and drastically reduced the owed Income Tax.
The rectification was made and, with the documentation organized, the refund request was submitted through the PERD/COMP (Electronic Request for Refund, Reimbursement, or Reimbursement and Compensation Declaration) system of the Federal Revenue. It is the official procedure to recover taxes paid incorrectly or excessively.
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How to Compensate Losses in the Stock Market on Income Tax
According to the rules of the Federal Revenue, losses can only be compensated with profits from the same type of operation and never with gains from previous months. In practice: day trading offsets day trading; common operations (swing trading) only offset common operations. Compensation can occur in the same month or in the following months, until the balance of losses is zeroed out.
For REITs and Fiagros, the compensation is also segregated: losses with shares of real estate/agricultural funds offset future profits of the same group, not from stocks. Educational guides from B3 reinforce this separation and guide the filling in the Variable Income section of the Income Tax program.
Another practical point, operations in the stock market must be reported month by month in the Variable Income tab. When there is a balance of losses from previous periods, it must be stated at the beginning of the calendar year for the program to calculate the compensation throughout the months. Specialized articles explain the step-by-step process and remind that reporting losses is a right of the taxpayer to reduce the tax base.
What to Do If You Paid More: Correcting and PERD/COMP
If the taxpayer identifies an error that increased the tax paid, the way is to correct the declaration and submit a refund request in the PERD/COMP through e-CAC. The service allows for reimbursement or compensation of excess or incorrectly paid federal tax credits.
There is a financial update of the credit, the PERD/COMP Web manuals indicate that the amount is corrected by the Selic rate up to the delivery date of the request, as per the rules of each modality. This applies to refund requests and for compensations.
In the case of a refund of IRPF, the Federal Revenue allows credit via Pix when the key is the CPF of the holder, in addition to deposit into an account. The taxpayer chooses the form of payment in the declaration itself.
How to Organize Variable Income Declaration Month by Month
Organization starts outside the Income Tax program, with brokerage note files, DARFs, income reports, and a monthly control that separates market (stocks, REITs, Fiagros) and type of operation (day trading vs. common operations). This routine reduces errors and speeds up verification at tax time. Guides from B3 and technical materials from the Federal Revenue detail the use of the Variable Income section.
When filling out, check the balance of losses from the previous year and record it in the first month displayed in the section, so as not to lose the right to compensate in the current year. Recent reports that dissected the investor’s case highlight the importance of this initial field and correctly entering each month.
For those who collect monthly, the ReVar service integrates data from B3 and helps to calculate and collect the tax on stock market operations, reducing inconsistencies between DARFs and the annual declaration. The authorization for data sharing occurs on the B3 investor portal.
What to Observe Already for 2026 (Base Year 2025)
Those who traded in 2025 must follow the same compensation rules and maintain control until December. When preparing the Income Tax for 2026, the balance of unused losses from 2024/2025 needs to be recorded in the initial month of the section, so that the automatic calculations work.
If there is excess tax paid in 2025 due to calculation errors, the guidance is to gather proof, correct, and invoke PERD/COMP via e-CAC. The system accepts access with a gov.br account at Silver or Gold level for individuals.
Finally, keep an eye on the refund calendar for IRPF. The batches are adjusted by the Selic starting from the stages defined by the Revenue. In case of doubts, the official consultation indicates the status by CPF and tax year.
Want to discuss? Share how you control losses and profits month by month and if you’ve used PERD/COMP. Which tools help you the most in settling your Income Tax? What points of the variable income declaration still cause doubt in practice?
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