Tax deduction when buying an apartment

Buying an apartment, you intend to use the tax deduction? Of course, because you've heard so much about it, but only while you know exactly how to act properly. It is good that we all live in a state that has taken care of its taxpayers in such a way that they are provided with considerable tax benefits when buying housing .

In order to apply the tax deduction that you are entitled to when purchasing an apartment, you need to follow the statutory rules. Firstly, you should know that if the employer, the local administration or another person has allocated funds to purchase an apartment, and you have used the funds of the parent capital, then you are not supposed to deduct. You can apply the tax deduction when buying an apartment or a private house only once. This applies to all those who have already received a property deduction later in 2001. Those taking advantage of the right to deduct until 2001 when buying an apartment or building a house can get it again.

The calculation of the tax deduction is based on the cost of housing or the cost of its construction, but it can not exceed 2 million rubles. Under the new legislation (if the right to receive a deduction has arisen since 2008). If the deduction began to receive before 2008, then the maximum amount of it can not be more than 1 million rubles. The rate on it is 13%. That is, if you buy an apartment for 5 million rubles, then you will return 13% from only 2 million, and this will be 260 thousand rubles.

Interestingly, a tax deduction when buying an apartment is relied on by everyone? Unfortunately, it is not. Pensioners (unemployed); Individuals - non-residents of the Russian Federation, individual entrepreneurs who enjoy a simplified taxation system or a tax on imputed income, can not do this. If you won the lottery, buy from relatives or received a decent amount for dividends and decided to buy an apartment, according to the law, you are not entitled to tax credits when buying an apartment.

Interestingly, when will you finally be able to get this tax deduction? From the moment you receive a document showing your right to an apartment or a house. If the apartment is bought in a newly built house - as soon as you receive the act of transfer of housing.

How to get such a welcome property deduction?

You will need to collect a list of necessary documents and apply at the place of residence to the tax authorities. But, in fact, a list of all the necessary documents:

- tax declaration strictly in the form of 3NDFL;

- A certificate of your income forms 2NDFL (if you work in several jobs, then with each);

- application of a natural person-taxpayer;

- contract for the purchase of housing (copy);

- certificate of ownership of housing or the act of transfer (copy);

- copies of receipts, bank statements on the transfer of money, receipts, etc., in general, all documents confirming your payments.

To the list, attach the application for a deduction and your bank account number , to which the overpaid tax will be credited.

You can apply to the tax authorities at any time, as soon as the tax period has expired.

As an option, you can get your long-awaited tax deduction when buying an apartment from your employer. But go to the tax authority with a set of all the necessary documents will still be needed. Not later than 30 calendar days from the date of submission of your written application and a package of collected documents to the tax authority, your right to use the tax deduction should be confirmed. This right will be confirmed by issuing a special notice at the place of your work. Further it will be transferred to the accounting department of the employing organization, and on this basis the tax will cease to be withheld.