DARF Swing Trade

How swing-trade DARF is calculated

Swing trade is when you buy and sell stocks on different days. The capital gain carries a 15% tax: DARF = profit · 15% − IRRF (0.005% withheld at source). Use code 6015 on the form. So if you profited R$ 1,500 on total sales of R$ 25,000, the math is R$ 1,500 · 15% = R$ 225, minus whatever IRRF the broker already retained.

Here's the key exemption. When all your swing-trade sales in a month add up to R$ 20,000 or less (you sum the sale value of every stock, not the profit), the whole gain is tax-free for that month, and only swing trade gets this break. Cross the line by even one centavo and the entire gain becomes taxable. Losses offset swing-trade gains only, with no time limit. Payment is due by the last business day of the following month.

Brazilian context

This is the regime most buy-and-hold (B&H) investors live under on B3, the people holding long-term portfolios at brokers like XP, Rico, Clear, BTG and Nubank Invest. That 0.005% IRRF is basically symbolic ("dedo-duro"); its only job is to flag the trader to Receita Federal. Most home brokers also send out a monthly trading note (nota de corretagem) listing each sale and the IRRF retained, which makes the reconciliation easy to follow.

FAQ

Does the R$ 20,000 exemption apply per stock or aggregated? Aggregated. You add up the sale value of every swing-trade stock in the month. A single R$ 25,000 sale of one stock already taxes the entire gain.

Are dividends and JCP included in the threshold? No. Dividends are tax-free for individuals under a separate regime, and JCP already has 15% withheld at source. The only thing that counts toward the R$ 20,000 is the sale value of your shares.

How do I report exempted gains on IRPF? On the "Rendimentos Isentos" worksheet, line "Ganhos líquidos em operações no mercado à vista — vendas até R$ 20 mil/mês".

Can I carry losses from previous months? Yes. Swing-trade losses pile up with no time limit and keep offsetting future swing-trade gains until they run out.