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Tax return of a wealth-managing GbR

January 7, 2021 | 25,00 EUR | answered by Steuerberater Knut Christiansen

Hello,

I am currently working on the tax return of an asset-managing GbR. We only have income from capital gains, from a foreign bank. As far as I know, to declare the tax for the GbR, only a separate and uniform determination declaration is required. Or is there more to it? Where to enter the profits and losses of the respective asset classes, as well as the withheld withholding tax on dividends, is clear to me.

However, it is unclear to me whether I can declare and claim regularly incurred costs for the operation of our activities in an asset-managing (non-commercial) GbR... (It is several hundred euros monthly, for data and server fees, etc.) As far as I understand, we as a non-commercial GbR are not allowed to submit a profit and loss statement. Is that correct?

One could of course list the expenses of the GbR in the respective private income tax return of the shareholders as business expenses. But is it that simple if they do not appear in the GbR's declaration?

Thank you very much and kind regards!
Max

Steuerberater Knut Christiansen

Good day,

Thank you for using frag-einen.com! I would be happy to answer your question as part of an initial consultation.

The partnership generates income from capital assets. According to § 20 (9) of the Income Tax Act, a deduction of advertising costs is not permitted. The reason for this is that the income is subject to flat-rate withholding tax.

You only need to enter the income on the KAP attachment and then distribute it according to the respective partners' shares. The consideration of the respective shares in income and the creditable taxes will then be done in the income tax return of each individual partner. To do this, the separately determined income of the partnership will be communicated to the tax office of the partner's place of residence by the partnership's tax office.

I hope this answers your question, otherwise feel free to ask additional questions at no cost.

I would like to point out that this forum cannot replace a detailed and personal tax consultation, but is mainly intended to provide an initial tax assessment. By adding or omitting relevant information, the legal assessment of your issue could differ.

Best regards,

Knut Christiansen
Tax Advisor