7 things to remember when filing your tax return

En rød highlighter tusch, der markerer færdiggjorte opgaver

How to get ready for your tax assessment notice

For most of us, March means brighter times ahead with daylight saving time, spring, and the Easter holidays. March is also the month when the Danish Tax Agency (SKAT) opens the annual tax assessment, allowing you to complete your tax return. If you rent out your house or apartment, you must report your rental income to the tax authorities while ensuring you claim the deductions you are entitled to.

Very few of us look forward to this part, which we at Reportability think is a shame. That is why we try to make the whole process a little easier for you!

What you need to prepare

Forget about crumpled papers on your desk – digitalization has made things much easier. On the Danish Tax Agency's TastSelv portal, you must complete your tax return online. This is great, as the tax authorities receive information about your income directly from your bank, unemployment insurance fund, and employer, which makes everything a bit easier for you.

What does not happen automatically is the calculation of, for example, your residential rental income. You need to calculate your income and deductions, and choose a tax scheme under the business tax regime. It can therefore be a good idea to get assistance with your filing, for example with Reportability to ensure that you report correctly. This also ensures that you get the right deductions for renting out your house or apartment.

You may have already chosen a tax scheme when you filled out your preliminary income assessment, but now you have the opportunity to correct it if you made the wrong choice. You can read more about the different tax schemes in our blog post about business tax regimes.

You can also always get help via the Tax Package with accountant advice at Reportability.

Ready – set – go!

Here is an overview of the 7 documents you need to find for the annual assessment of your residential rental.

An account statement from your bank
The annual statement from your mortgage provider
Your homeowners' association financial statement
Property tax receipts
A utility statement
Lease agreement
Annual statement regarding any other debt

You will need these documents in special cases:

For maintenance – expense receipts
For improvements – expense receipts
For change of tenant – deposit statement
For sales – documentation of sale price and selling costs

An easier way to your annual tax return

We know it can feel like a lot to take on. It can be, but that is where we come to your rescue. Did you know that with Reportability, you can complete your tax return for property rentals, parental purchases, and room rentals easily and securely?

This way, you can be sure you have the right figures, and our digital tool tells you exactly where to enter your information in the Danish Tax Agency's self-service portal.

Also, remember that when you purchase assistance from Reportability, it should naturally be deducted along with the other expenses you have incurred in connection with your property rental!

This year, you can complete your tax return with Reportability as early as January, so you can breathe a sigh of relief early on and enjoy the bright spring days. Haven't purchased Reportability yet?

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