French resident - how to declare your gains of your Revolut Trading account

I am making this simple recap for tax residents of France.
I am not a tax specialist, just an honest individual who tries to declare his income to the best of his ability.
This is my view only, it may not apply to everyone as every situation is different.
This is my understanding and own interpretation, I cannot be held liable if you follow this and it is not accurate.

It goes without saying, but you don’t need to be a French citizen or work for a French company to pay your taxes in France. As long as you live in France, you have your tax duties in this country.

If you are employed at a French entity that grants you stock-options, the year that you exercise your stock option, if the plan is not qualified (which is my case), you have nothing to declare, as it is treated and taxed as salary on your pay slip.

Secondly, when you sell stocks, and your broker, like Revolut Trading, Trading212 etc does not give French tax authorities any recap of your stock trades, then you have to declare it yourself using the form 2074, know as the green form. The online declaration is limited to 9 sell-offs of stocks. If you have more, then you will need to declare using the paper form, and attach an Excel sheet detailing your gains (I made a template if anyone is interested can PM). Note that, for your cost of acquisition, you must use the weighted average price per share.
The total value of your gains that will be taxed is in line 945 “total of gains”. You will be taxed at the flat tax (30%). Note that the reduction of tax when you used to hold your stocks for more than 2 years, is no more present in the current flat tax scheme. In other words, there is no more tax incentive for holding stocks for more than 2 years.

To declare your dividends of US (foreign) origin, you use the form 2047, know as the red form (not to mistake with the 2074 above). For US dividends, normally your broker (I know that Revolut and T212 do this) already deducts the 15% released to the US tax authorities. Example: let’s say that you received the equivalent of a gross 100€ of dividends. You should receive 85€ on your account, your net dividend. In the online tax declaration, in form 2047, check the box “Des revenus des valeurs et capitaux mobiliers imposables en France.” Then fill row 203 with the net value (85€ in my example), row 204 with 17,7% (for US), row 205 is automatically calculated (15€ in my example), and put 15€ in row 206.
In theory, when you receive dividends, if your “revenu fiscal de référence” is above 75k€ for a couple, you must, before the 15th day of the following month, fill-in the 2778-DIV-SD form and send it to your local tax office with a check worth 21% of your perceived dividends, as an advance you are making to the tax authorities. And do this every time you receive dividends. To be honest, my advice is that you can skip this and just declare your dividends of foreign origin once a year, you should be fine with this approach.

For gains on crypto is another story, you need to fill form 2086 and you will be taxed at 30% flat tax.

Finally, and this is extremely important, as most countries now exchange between themselves fiscal info about their residents, you must declare all your foreign accounts and foreign crypto accounts. This can be very tedious but nonetheless mandatory, the fine of not doing so can be important. To do this, it is the Appendix 3916 (for foreign accounts) and 3916 bis (for crypto accounts). No need to inform the amount that is sitting on these accounts, just the existence of the accounts, with basic info such as open date, close date (if you closed the account during the year), account number etc.

Finally, this article is a bit old, however gives some good use cases: Déclarer les gains d’un compte-titres ouvert à l’étranger (MAJ 2020) | Améliorer sa culture financière pour mieux gérer son argent

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Hello,

Thanks for the recap. This is exactly what I was looking for. I would have more detailed questions.
Possible to get in touch in pm? Just that I don’t know how to pm on this forum?

Click on the user’s icon (i clicked on yours) and that will present:

then click on image

Hi pprt and once again thanks for your heads-up on the French tax returns.
For 2021 though, hasn’t the 3916 and 3916-BIS now been combined into one form (requiring a complete re-entry of data from scratch)?

Hi Graham, correct, the 2 forms are the same, however the tax authorities still refer to the two names.

FICHIER

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I would like to thanks pprt for his advice.
I am currently checking how to complete the 3916 and I am confused about this section:
2. Nature du compte, contrat ou placement concerné par l’obligation déclarative
A- Compte bancaire → Banking account
B- Compte d’actifs numériques → Bitcoin and others currencies
C- Contrat de capitalisation ou placement de même nature, notamment contrat d’assurance vie → Long term investment
I have some dividend stock and not sure which box should I check ? Not the banking account for sure. Anyone has the answer ?

On Form 2042 section 2-200 box 2DC for both declarant 1 & 2

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Thanks Graham, for some reason, i could not find the button.
Do you know if we need to add the revenue entered in the form 2074 in another cell in the declaration?

(post withdrawn by author, will be automatically deleted in 24 hours unless flagged)

Same here, could find this message icon

The only thing I can think of is your Trust Level isn’t sufficient to DM another member of the site.

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Thank you for the recap.

I am trying to declare my gains, but I have a problem with the form 2074.When they ask how many stock I bought or sell, I can only enter a whole number. Or you must know that with revolut you can buy fraction of a stock, what I did. So all my declaration will be wrong…
Clearly I don’t know what to do. Any solution ??
I think I’m going to put the amount that I calculated directly on the “3VG” case, even If it’s not really appropriated…

The DM button is now available :slight_smile:

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The only reference I can find to Form 2074 is this:

Which appears to relate to business activities and is from this November 2020 resource which is beyond my scope. Maybe you need to seek professional accounting advice?

In my opinion, you are using the wrong form. You said you want to declare your gains and loss, that should be completed in 2074_cmv form
You need to fill these lines from my screenshot

Hi @anismous I absolutely agree with you. The online tax form 2074 has severe limitations like whole number for number of stocks, also the stock price can only have 2 digits after the comma, which makes the calculation false if you sell thousands of stocks.

I took the decision to use the wrong result given by the calculation of the online form. Eventually the difference is less than 20€ with my calculation, so it is OK.

In 2021, I already sold more than 9 stocks, so the online form won’t work anyway, so I will file my taxes in May 2022 on paper, and I will print my own calculation. Side benefit is that I will put the exact number, not rounded like in the online form.

Using the paper form instead is an alternative.

Typically if you’ve sold US stocks, you will fill section 1133 of the 2074 form (stocks are “valeur mobilière”) and it instructs in column E to copy the result back to your main declaration 2042C, cell 3VG.

Thanks for the answer.
Maybe I will to do the same as you, and make a whole number to fulfill the number of stocks (in fact, I bought and sell the same number of stocks every time, so it does not really change the calculation I think)…
The fact is that I made this trading activity with small amouns of money, just for the fun. My benefits for the year are about 150 USD, so all those declarations just for that make me sick

That’s quite confusing and you learn something new every day!.
How can you have more than a whole number of stocks?
I don’t actually trade stocks so the question is academic (for me) although I have considered it with :r: but I’m sure others will find it equally fascinating too.
Have you asked the fisc how they expect you to deal with such a situation?

Hi @Graham_Lees yes some brokers let you buy only fractions of stocks, for example AMZN is 3,467 USD but they will let you buy 1,000 USD of Amazon, which is less that 1/3 of a stock.

The tax online declaration system is not geared towards fractions of stock.

This is why I recommend to file a paper declaration instead of the online declaration, and to provide your own table and calculation. If you’ve sold more than 9 stock trades in a year, you have no other choice than paper declaration, as the online form is limited to declaring 9 trades anyways.

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