Tax on the sale of real estate: calculation procedure

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

According to the tax laws of our country, income from the sale of property is taxed. Moreover, both residents and non-residents must pay it. The first category includes citizens residing in Russia for more than 183 days. They must pay tax on the sale of real estate in the event that it is located in the country and abroad. The tax rate is 13%. Non-residents are people living in the Russian Federation for less than 183 days. For them, the tax increases to 30%. But they pay it if they sold property located only in the Russian Federation. The amount of real estate sales tax depends on several factors. Consider a few cases.

Property owned for more than three years sold

In this case, the citizen will not have a debt to the state. This property can be sold for any amount, the income received is not taxed. The date of entry into ownership is considered:

• Date of the certificate of registration of ownership, if the property was acquired under a contract of sale, exchange or donation, as a resultprivatization.
• Date of death of the testator, if the property was inherited.
• Date of payment of the last share - for cooperative apartments.

This must be kept in mind when making a contract. So, for example, if for many years you lived in an apartment thanks to a social contract. hiring, and immediately after the privatization decided to sell it, you will have to pay tax when selling real estate.

Property owned less than three years sold

Option 1: You cannot document your expenses when buying a property

In this case, you are given a tax deduction that reduces the taxable base. Its amount depends on the type of object.

1. For apartments, residential buildings, as well as land plots, garden houses, it is 1 million rubles. That is, if, for example, an apartment is sold for 1,200 thousand rubles, then only 200,000 will be taxed.

2. For other property (office, garage, warehouse…) the amount of the deduction is 250 thousand rubles.

It is worth noting that if the property is in common ownership, then the amount of the deduction is calculated in proportion to the shares.

Option 2. You can document your expenses when purchasing this property

If you bought property, for example, an apartment worth 4 million rubles, and a year later decided to sell it for the same money, you will not pay tax when selling real estate. This rule is subject to the condition that you have retained the previous sales contract andYou can submit it to the FTS. If the property is sold for more than the purchase price, then everything in excess of this amount is taxed.

When to pay and whether to pay at all?

Note that regardless of whether the tax will be charged on the sale of real estate or not, a declaration must be submitted to the tax office. When to do it? The next year after receiving income. When do you have to pay property tax? Let's say 2013 was the year you sold your house. Before April 30, 2014, you must submit a declaration to the Federal Tax Service, and before July 15, 2014 - pay the amount of tax, if any. Pay or not? It's up to you, of course. But remember that tax evasion is a criminal offense that entails very hefty fines and imprisonment.