Share and fund-unit disposals
- Rule
- Consideration, fiscally recognised cost and the difference are reported separately.
- Box
- Quadro RT21, RT22 and RT23
- Pack
- Prepared. Three verified boxes, each backed by a euro disposal list.
Italy Investment Tax Report
Italian law matches sales last in, first out, and it does so across everything you own rather than broker by broker. The Italy pack runs that single history and turns it into RT21, RT22 and RT23, or the Quadro T amount for an eligible 730 filer.
Rules checked 15 September 2026
Quadro RT21 to RT23
Taxpayer-wide LIFO
2025 forms
What Italian investors must report
What the declarative regime asks of a foreign-broker portfolio, and how far the pack takes it.
| Item | The rule | Form and box | What the pack produces |
|---|---|---|---|
| Share and fund-unit disposals | Consideration, fiscally recognised cost and the difference between them are reported separately, not as one net figure. | Quadro RT21, RT22 and RT23 | Prepared The three verified boxes, each backed by a list of disposals in euros. |
| Which lot the sale came from | Lots are matched last in, first out, across all your own taxable accounts for the same legal security. | Behind RT22 | Matched Every disposal names the lot it took, the account that lot sat in, and the date it was bought. |
| Currency evidence | Both sides of a matched lot need a euro conversion you can point at, not one annual rate. | Inside RT21 and RT22 | Recorded The operative day first, then an earlier quotation, then a stored monthly average, with the choice kept on the row. |
| Losses | Minusvalenze stay inside the capital-gains basket and can be used for four later tax periods. | Reduces RT23 | Applied The result before losses, the losses used, the taxable amount and any new loss carried forward. |
| Foreign fund income | Positive income from a foreign fund is redditi di capitale and cannot absorb losses from the redditi diversi basket. | Separate basket | Separated The two baskets are kept apart on the sheet so one never quietly offsets the other. |
| Which return you file | Positive foreign fund income means Redditi PF. An eligible filer without it can choose Form 730. | Quadro RT or Quadro T | Routed RT21 to RT23 for the RT route, and a descriptive securities amount for Quadro T without claiming an exact line code. |
| Submitting the return | The securities figures are one part of a return that also carries income, wealth taxes and foreign-asset reporting. | Redditi PF or 730 | You file Everything leaves as a file for you or your commercialista. |
Which lot the sale came from
- Rule
- Last in, first out across all your own taxable accounts for the same legal security.
- Box
- Behind RT22
- Pack
- Matched. Every disposal names the lot, the account and the buy date.
Currency evidence
- Rule
- Both sides of a matched lot need a euro conversion you can point at.
- Box
- Inside RT21 and RT22
- Pack
- Recorded. Operative day, then an earlier quotation, then a stored monthly average.
Losses
- Rule
- Minusvalenze stay in the capital-gains basket and last four further tax periods.
- Box
- Reduces RT23
- Pack
- Applied, with the amount before losses, the losses used and anything carried forward.
Foreign fund income
- Rule
- Redditi di capitale, and it cannot absorb losses from the redditi diversi basket.
- Box
- Separate basket
- Pack
- Separated on the sheet so one never offsets the other.
Which return you file
- Rule
- Positive foreign fund income means Redditi PF; an eligible filer without it can choose Form 730.
- Box
- Quadro RT or Quadro T
- Pack
- Routed. RT21 to RT23, or a descriptive Quadro T amount.
Submitting the return
- Rule
- These figures are one part of a return that also carries income and wealth taxes.
- Box
- Redditi PF or 730
- Pack
- You file. Working papers export as PDF, Excel or CSV.
Numbers for your form
Three boxes, and the trail to each of them
RT21, RT22 and RT23 sit at the top with the Italian captions the form uses. Underneath, the redditi diversi list names every disposal, the lot it matched, the account that lot came from and the euro result. Redditi di capitale keeps its own line so foreign fund income is never mixed into the gains you can offset.
Open the Italian pack
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Accounts and wrappers
The lot order depends on what counts as yours
Last in, first out only gives the right answer when the pack can see every account holding that security. Each card carries the wrappers an Italian investor really holds: an ordinary deposito titoli, or a PIR. A PIR account stops the pack, because that regime sits outside it, and the card is where you say so.
See the accounts stepAllInvestView
Exports
Working papers your commercialista can follow
PDF, Excel and CSV carry the box amounts with the disposal rows and conversion evidence behind them. An unanswered filing route or a missing euro rate holds the export back. Once a year is closed its calculation revision is frozen, which gives you a stable copy to review against the finished return.
See what exportsAllInvestView
Where the pack stops
The dichiarazione is still yours to submit
It does not file your return. The 26% figure on the sheet is an estimate on the supported securities result, with no general exemption threshold modelled.
Quadro RW and W, IVAFE, bonds, derivatives and crypto are outside this pack, and it uses the published 2025 forms while the 2026 revision is unavailable. A PIR account in scope stops it outright, and so does an unsettled filing route, incomplete account coverage, a security it cannot identify or a missing euro conversion.
The filing route comes first
An Italian resident using a foreign broker in the declarative regime needs more than a total gain from the broker, because the route decides how the securities result is presented. Where Quadro RT applies, the pack prepares RT21 consideration, RT22 fiscally recognised costs and the RT23 difference. For an eligible Form 730 filer choosing Quadro T, it provides the supported securities amount as a descriptive route rather than claiming an exact line code.
Positive foreign fund income requires Redditi PF in the implemented calculation. The pack keeps that route visible next to the disposal evidence, so a share result and a fund-income result are never silently merged.
One taxpayer-wide LIFO history
Italian last in, first out applies across your self-owned taxable accounts for the same legal security identity. A sale in one account can therefore take its cost from a later purchase sitting in another. Calculate each broker on its own and you can get the wrong lot even when every individual statement is internally consistent.
The disposal detail keeps the buy date, the sell date, quantity, proceeds, cost and result in euros, which gives you a trail from the filing figure back to the matched lots instead of one unexplained annual number. Verified aliases for the same security are consolidated before the walk begins.
Losses and fund gains stay in their own baskets
The calculator separates redditi diversi from positive foreign fund income treated as redditi di capitale. Prior minusvalenze can be applied inside the supported capital-gains basket for four later tax periods; positive fund income cannot use them.
The basket summary shows the result before earlier losses, the losses used, the taxable amount, the current tax estimate and any new loss carried forward. Keeping those two apart matters as much as getting the lot match right.
Useful tax and portfolio pages
- Italy filing pack, the Quadro RT and T workspace itself.
- Capital gains report, review disposal history and tax calculations across the portfolio.
- FIFO and LIFO guide, how lot order changes the basis assigned to a sale.
- Multi-currency portfolio guide, what changes when your holdings are not in your home currency.
- Capital gains tax guide, the wider picture behind a disposal calculation.
- Investment tax reporting guide, the records behind an investment tax calculation.
Not tax advice. Review the evidence and the filing route yourself or with an Italian tax adviser before you submit anything.
Put your own brokers behind these figures
Start free
Build one taxpayer-wide lot history, keep the euro evidence with it, and let the baskets stay where the law puts them.
Questions about the Italian filing pack
Does Italy use FIFO or LIFO for these securities disposals?
The Italy pack uses last in, first out across all personal taxable brokerage accounts. Verified aliases for one security are consolidated before the lot walk.
What does the pack prepare for Quadro RT?
For the RT route, the output maps consideration to RT21, fiscally recognised costs to RT22 and their difference to RT23. Each total is backed by EUR disposal rows.
Can the Italy pack prepare a Quadro T amount?
Yes. For an eligible filer choosing Form 730, it provides a descriptive Quadro T securities amount. Exact Quadro T line mapping is not claimed.
How are foreign fund gains treated?
Positive foreign fund income is kept in redditi di capitale and requires the Redditi PF route in the implemented calculation. It cannot absorb losses from the redditi diversi basket.
Which currency evidence is kept?
The matched lot records the EUR rate and date used on both sides. The supported hierarchy checks that day first, then an earlier quotation, then a persisted monthly average.