50B Capital income and deductions ‒ Instructions

Check the pre-completed tax return. Report any capital income that is missing from the pre-completed tax return or that needs to be corrected.

These instructions describe how to file such capital income on paper using Form 50B.

You can also report capital income electronically in MyTax. If you do so, you do not need the paper form. Read instructions for filing in MyTax. These instructions may be of assistance.

Form 50B is available for download on our Forms page. The return address is on the first page of the form.

You can fill in or correct the following information related to capital income on this form:

• dividends and co-operative surplus
• your pensions taxable as capital income 
• your income from a long-term savings agreement (PS agreement)
• your revenues or losses, relating to a contract of investment-linked and savings-linked life insurance (also known as a "shell")
• your revenues and losses related to a capital redemption policy
• your revenues and losses in an equity savings account
• other capital income (see section 3)

In addition to capital income, you can also fill in the related deductions, such as voluntary pension insurance contributions, interest expenses for a home loan, or interest expenses for a loan relating to production of income. Starting the 2023 tax year, no deductions are granted anymore for interest expenses connected with home loans. For details on what should be included in the entries on this form, see the Table of contents above.

You should also use this form to add or correct details on assets in your tax return. Section 6 describes the reportable assets in more detail.

Also use this form when you submit a claim for adjustment after the Tax Administration has finished your tax-assessment process for the year. Fill in a claim for adjustment and attach this form to it. Claims for adjustment can also be submitted in MyTax. Using MyTax eliminates the need for paper forms.

If you are making corrections to previously provided information or are claiming an adjustment, fill in the form section to which you are making changes.

Other income ‒ Select the correct form

If you wish to add or correct other information, please use the correct form:

• rental income: Form 7H (Rental income from housing companies), 7K (Rental income from real estate) or 7L (Rental income from other property)
• capital gains and capital losses from other property (e.g. virtual currencies): Form 9
• capital gains and capital losses from trading with securities: Form 9A
• shareholder loan and its repayments: Form 13.

Note that capital income received from foreign payors must be reported separately as income from foreign sources. You can report it in MyTax or on paper, complete Form 16B (Statement on foreign income, capital income).

1 Personal details and tax year

Enter your name and personal identity code.

Also enter the tax year, i.e. the year for which you are reporting income or deductions.

2 Dividends and surplus

Report the dividends and surplus here that are missing from or incorrect in your pre-completed tax return. Delete any receipts of dividends and surplus that are part of your agricultural or business activities, to transfer them to the income tax returns for these activities, as appropriate. Fill in the following information on dividends or surplus:

• payer's business ID
• payer's name
• gross income per year. If you are deleting any amounts that were shown on the pre-completed return, enter zeroes (0's) instead.
• withholding tax on the income during the year
• type of dividend:
  • dividend from listed companies
  • dividend from non-listed companies
  • non-cash dividend – also indicate the type of asset that you received as the dividend
  • profit surplus from listed cooperatives
  • profit surplus from a cooperative with at least 500 members
  • profit surplus from a cooperative with less than 500 members

The Tax Administration will divide the dividends you have earned from non-listed companies into capital income, and earned income and calculate the taxable portion of the dividends.

You should also fill in form 13 (Account of shareholder loans and distribution of earned and capital income for dividends) or report the information in MyTax if

• you are a majority shareholder and you have used a residence included in the assets of the company that paid the divided, or you have taken out a shareholder loan from the company
• you are an owner-shareholder and you have taken out a shareholder loan from the company.

This information affects what portion of the dividend is capital income and what is earned income.

When the year’s income taxes are assessed for an individual taxpayer, the corporate share’s mathematical tax value can determine the division between the individual’s capital income and earned income. In other words, the mathematical value determines how much of the dividends is subjected to capital-income tax, and correspondingly, how much is subjected to earned-income tax. This concerns dividends distributed by companies not listed on a stock exchange. The subscription price of one corporate share can sometimes serve the purpose of the mathematical tax value, as no mathematical value is available for a new company or for new shares of a company. If you demand that the tax authorities should equate the mathematical tax value with the subscription price of a share, provide a free-text written account to give details on the matter.

For more information on the concept of mathematical value, see the detailed guidance of the Tax Administration  “Calculating the mathematical tax value of one corporate share of a non-listed company” - Julkisesti noteeraamattoman osakeyhtiön osakkeen matemaattisen arvon ja vertailuarvon laskeminen (especially section 5.1 and section 5.2) (in Finnish and Swedish, link to Finnish).

Use Form 16B (Statement on foreign income, capital income) for reporting any dividend and surplus received from abroad.

3 Capital-income pensions, long-term savings agreement payments, and other capital income

Fill in the amounts of your pension income treated as income from capital, your long-term savings (PS) income, or other capital income, missing from your tax return, or correct any of the information in it. You should report your capital income that consists of:

• interest income (however, do not enter interest on ordinary bank deposits or other interest subject to tax withheld at source)
• revenues derived from your equity savings account
• revenues related to a capital redemption policy
• revenues of a savings-linked life insurance policy
• revenues of a voluntary pension insurance scheme, with validity either for a term or for life
• revenues under § 35b of the Act on income tax, relating to any insurance contract subjected to special tax treatment
• any received aftermarket bonus
• the annual return you received on profit-sharing of an investment fund
• profits from selling timber, if the trees were felled on a plot of land (e.g. at a summer cottage), even if the information is pre-completed in the forestry specifications
• profits from selling soil material
• exchange rate gains
• tax relief for investment activities, treated as capital income, which had been deducted in your assessment for a previous tax year.
• compensation for use (royalty) you have received in exchange for use of a copyright or industrial property right that you have inherited or bought. Copyrights may relate to literary works, works of art or photographs. Industrial property rights include patents, designs and trademarks
• capital income paid to you by your employer, such as interest on unpaid, overdue wages and guarantee commissions
• income from the mining of virtual currency, treated as capital income (proof-of-stake protocol)

Give the following details on the income:

• payer's personal identity code or Business ID
• payer's name
• gross income per year
• withholding tax on the income during the year
• an account of the income you are reporting (such as interest income)

This section is for any losses, as well, due to your holdings in an equity savings account, savings-linked life insurance, capital redemption policy, term life insurance, or any insurance contract subjected to special tax treatment (under §35b as discussed above). If you report these losses, enter the amount under "Gross income per year" as a negative figure with a minus sign in front.

4 Deductions from capital income

4.1 Expenses for management and safekeeping of securities

If any expenses for management and the safekeeping of securities are missing from your pre-completed tax return or if the expenses are wrong, enter the total of all management and safekeeping expenses you have paid during the year under "Expenses for management and safekeeping of securities/year".

The threshold amount for deducting expenses for management and safekeeping of securities and book-entries is €50. If the total management and safekeeping expenses exceed €50, enter the expenses in full, i.e. do not deduct the threshold amount.

Also enter the name and Business ID of any recipient whose information was missing or incorrect.

4.2 Voluntary pension insurance or long-term savings agreement payments

Enter any payments made to a voluntary pension insurance or long-term savings (PS) agreement that are missing from your pre-completed tax return, or correct any of the information in it. Enter the total of what you paid during the year under "Voluntary pension insurance or long-term savings agreement payments/year".

Also enter the name and Business ID of the payment recipient whose information was missing or incorrect.

The deduction can only be made by the spouse who is insured or who is entitled to the assets. The deduction cannot be transferred to your spouse's tax assessment.

Pension insurance premiums can be deducted if the insurance company operates in Finland or another EEA member state.

Read more about long-term savings agreements and voluntary pension insurances (available in Finnish and Swedish, link to Finnish)

4.3 Other expenses incurred in acquiring or maintaining capital income

If other expenses for the production of your capital income are missing from your pre-completed tax return, or if the expenses are wrong, enter the total expenses under "Other expenses incurred in acquiring or maintaining income/year".

Typically, this field is for any costs, expenses, etc., similar to the following:

• Purchase price of a computer workstation and expenses caused by data access or connection.
• Purchase prices of books and other costs relating to work-related professional reading.
• Costs that have a connection to your borrowing if you have borrowed money in order to produce income.  However, interest is not dealt with here. Typically, a cost you can claim here would be a service charge payable to the bank when you sign a loan contract.
• Foreign exchange-rate losses that have resulted from your transactions in foreign currencies.
• An aftermarket bonus which you have paid to the seller when purchasing a bond or debenture.

The expenses must be connected with your activities for the production of income. For example, connected with your investments.

Additionally, you may be entitled for a deduction for workspace expenses, i.e. home office, which is deductible from capital income. The size of this deduction depends on whether the income-producing activities are treated as your main occupation or as a pursuit of side income.

Please provide a more detailed account of the expenses under "Please explain how the expenses have arisen".

If you owned shares in a company that went bankrupt, you can give details on the resulting loss in MyTax or on a paper form. If the loss is connected with a stock-exchange-listed company that went bankrupt, use Form 9A (Capital gains and capital losses from trading with securities), and if the company was non-listed, use Form 9 (Capital gains and losses).

If you rent out moveable or immoveable property, claim the deductible expenses for the production of income on the special forms designed for rental income: Form 7H – Rental income from an apartment in a housing company, 7K – Rental income from a house or other real estate, or 7L – Rental income from other property.

4.4 Deductible interest and changes to loan details

Report any interest payments and loan details missing from your tax return, or correct the information provided in it. Check that the intended use of the loan is entered correctly on your tax return because this will affect the deduction of interest in your taxation.

Home loan interest

Tax rules no longer allow you to deduct interest expenses on a home loan, starting tax year 2023. However, this section of the form can still be useful if you need to make corrections to your tax returns from a previous year, etc. The only amounts of interest expenses to fill in here are those that you paid during 2022 or earlier, and the paid interest must be connected to a loan contract serving the purpose of financing your permanent residence or your family’s permanent residence. Give the following information:

• amount of interest in euros
• loan code
• the balance that remains at the end of the tax year
• the name of the bank or other lender.

First-time homebuyer's interest expenses on their home loan

Tax rules no longer allow you to deduct interest expenses on a home loan, starting tax year 2023. However, this section of the form can still be useful if you need to make corrections to your tax returns from a previous year, etc. The only amounts of interest expenses to fill in here are those paid during 2022 or earlier, and the paid interest must be connected to a loan contract serving the purpose of financing your first permanent residence or your family’s first permanent residence.

The home is considered a first permanent residence if the following conditions are fulfilled:

• You or your family live in the residence.
• You own at least one half of the residence.
• You have not previously owned at least one half of a residence that was your permanent residence.

Give the following details on the loan:

• amount of interest in euros
• loan code
• the balance of the loan at the end of the tax year
• the name of the bank or other lender

The deficit credit for the interest on a first-time buyer's home loan is 2% higher than the deficit credit for other home loans. You can receive the higher credit for no more than the first year of use of the home and the following 9 years. Read more on page Credit for deficit in capital income (available in Finnish and Swedish, link to Finnish).

Interest on a loan relating to acquiring or maintaining income

This section is used for reporting interest on loans relating to taxable income. Such loans include:

• a loan relating to rental income (such as a loan for acquiring a buy-to-let property)
• a loan relating to capital income from forestry
• a loan taken out by a majority shareholder for buying the shares

Also report the interest on a deductible principal debt here. Read more about Interest in income taxation (available in Finnish and Swedish, link to Finnish).

If you are a shareholder in a partnership treated as a single entity for tax purposes, also report any debts relating to the partnership's agricultural or forestry activities or other income here. However, you should report interest on loans relating to the activities of an agricultural partnership under "Shareholder's interest payments relating to agricultural partnership and request for deduction of losses from capital income".

Give the following details:

• amount of interest in euros
• loan code
• the balance of the loan remaining at the end of the tax year
• the name of the bank or other lender
• purpose of use of the loan.

Tick the box for "related to income from sources outside Finland" if the loan was taken for the purpose of production of income from a foreign source.

Interest on a loan for acquiring a share in a business partnership

If you are a shareholder in a business partnership and have taken out a loan for buying your shares in it, fill in the following information:

• amount of interest in euros
• the name of the bank or other lender
• loan code
• the Business ID of the business partnership
• the balance of the loan at the end of tax year

Shareholder's interest payments relating to agricultural partnership and request for deduction of losses from capital income

If you are a shareholder in an agricultural partnership, you can deduct the partnership's losses from your capital income. If the agricultural partnership no longer engages in agricultural activities, as an exception you can deduct confirmed losses from previous years from your capital income. If you wish to deduct losses from your capital income, enter your share of the loss to be deducted here, either as a percentage or in euros. You must demand the deduction of losses from your capital income before the taxation for the tax year ends. Read more about the losses of an agricultural partnership (available in Finnish and Swedish, link to Finnish).

In addition, indicate how much interest you have paid on any loan you have taken out as a shareholder for financing the activities of an agricultural partnership. Give the following details:

• the amount of interest in euros
• the bank's or other lender's name
• loan code
• loan balance at the end of the tax year
• the agricultural partnership's Business ID.

Other loans

This section is for any loan or loans missing from your pre-completed tax return. This section is also for correcting the information, if the loan is an "other" loan and its interest is not deductible. Such a loan has been taken out for a purpose other than purchasing a residence or for activities for the production income, such as for financing your studies or for living expenses. Check the box according to the type of entry: an addition or change to the loan details. You should only enter a loan where the lender is:

• a bank or other credit or financial institution
• the state of Finland
• a municipality
• an insurance company or a pension provider
• an employee bank (personnel service office)
• your employer

Give the following details:

• the name of the bank or other lender
• the remaining balance of loan at the end of the tax year

5 Credit for a deficit in capital income and child increase thereof

A deficit is created if deductions from capital income are greater than the capital income itself. The Tax Administration gives the taxpayer a credit, because of the deficit. This means that 30% of the sum is subtracted from the taxpayer’s earned income for the year. The 2022 tax year was the final year when interest expenses on a home loan counted toward the credit. Starting 2023, these interest expenses are no longer includible in the credit. (The credit given was 32% of the home-loan interest paid by first-time homebuyers, and with regard to other home-loan interest, the credit was 30%.)

The maximum amount of deficit credit is €1,400. However, the maximum amount is higher if you have underage children. In this case, a so called child increase is added to the maximum amount. The increase is €400 for one child and a total of €800 for two or more children (children must be under 18).

If you request that the child increase of credit for deficit is made in full in your own tax assessment, indicate for how many children the increase should be made.

If you have more than one child, you can divide the increase with your spouse so that you both receive a €400 child increase. If you only have one child, the increase cannot be divided. You and your spouse can choose to whose taxation the child increase should apply.

You can request that the credit for deficit be transferred to your spouse if you have no tax imposed on your income, or if the amount of income tax is insufficient for the full credit. In such a case, you should check the box "Any credit for deficit in capital income that cannot be deducted from my taxes must be transferred to my spouse for deduction"

You must make the request for the transfer of the credit for deficit to your spouse before the end date of your tax assessment for the tax year.

Read more about deficit credits (available in Finnish and Swedish, link to Finnish)

6 Changes to assets

In addition to income, you also have to give details on some of your assets. Assets to be reported include:

• real estate, buildings on leased land and unseparated properties
• shares in a housing company or mutual real estate company
• shares in other companies and cooperatives (excluding ordinary shares in consumer cooperatives and cooperative banks)
• shares in investment funds and UCITSs
• other securities and book-entries (excluding bonds with interest earnings subject to tax at source or equivalent bonds in ETA countries)
• equity savings account
• percentage shares in a general partnership, limited partnership or other partnership
• right of possession or usufruct to a real estate unit, to shares in a housing company, to shares in a real estate company, or to other securities.

You should report these assets even if they are located abroad.

Do not report other assets, such as private cars, boats or household assets.

Report the assets according to the situation at the end of the tax year. The value of the assets is not entered in the pre-completed tax return, nor do you need to report the values.

Type of asset: If you enter any information, check the box for the appropriate asset type: shares in a housing company or mutual real estate company, other assets or foreign assets.

Shares in a housing company: enter the Business ID of the housing company or real estate company, the apartment number, and your ownership interest as a percentage. In addition, the name and Business ID of the housing/real estate company must be entered under "More detailed account of assets". You should also provide an account of how the this information has changed. Where changes or error corrections were made, please enclose appropriate documentation as evidence. For example, enclose a sale-and-purchase agreement.

Other assets and foreign assets: enter the number and ownership interest as a percentage. Enter any other details required to identify the assets under "More detailed account of assets". If you have any bonds and other receivables, indicate their nominal values.

Information on real estate is not reported on this form. If corrections or additions are needed, make corrections to the real estate unit’s details in MyTax or on paper using Form 3743e (Real estate tax return).

The assets of your business and/or trade must be reported on Form 5 and your assets used for agriculture on Forms 2 or 2Y. (Forms 2, 2Y and 5 are tax returns).

7 International situations

I am asking to be considered non-resident under a tax treaty

Tick this box if you are considered a Finnish tax resident but your country of residence pursuant to the tax treaty is not Finland.

Read more on general and limited tax liability (under Requesting nonresidency)

I am asking for limited tax liability

Tick this box if you live outside Finland and and are a nonresident taxpayer.

Read more on general and limited tax liability (under Requesting nonresidency)

Credit for taxes paid to foreign countries (reverse credit)

The standard practice under tax-treaty provisions is that the individual's country of residence will remove any double taxation. However, according to what is agreed in some treaties, elimination of double taxation on income is carried out in the country of source. This is called reverse credit.

If you live in Spain and receive pensions from Finland, you can ask for reverse crediting. Fill in the tax, relating to your pension, that you have paid to Spain.

Read more about the reverse credit and the Spain-Finland tax treaty 

Date and sign the form.  Include your daytime telephone number.