Refund of tax when buying property. Refund of overpaid tax

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

When buying an apartment, a person often gives away most of his savings, so help from the state will not be superfluous. It is possible to return part of the money if you follow a certain sequence of actions.

Tax deduction amount

For real estate that was purchased with a one-time payment, the refund of overpaid tax is calculated in full if the total price of the object does not exceed 2,000,000 rubles. When purchasing real estate through a mortgage, a person will be able to receive compensation in full only if the value of the property does not exceed 6,000,000 rubles.

The amount of the deduction, the amount of which is determined by the state, is calculated only from the money that a person paid personally when the apartment was purchased. Income tax refund is not carried out for the implementation of additional payments, they are not compensated. If the property upon acquisition is registered with several owners, then each of them receives tax compensation in the amount that is equivalent to hisof the occupied part in the living quarters.

Features of the tax deduction

When a person purchases a property with a price of less than 2,000,000 rubles, then even after a few years you can get the missing amount to get the full amount of compensation, and not calculate a percentage from each new purchase.

If a person is simultaneously selling real estate in which he lived until recently, and then decided to purchase a new object, the proceeds of 13% can be used to pay off tax from the sale of his own apartment. This feature may only be required if the property has been owned for no more than 3 years.

Eligible tax refund

1. People who are citizens of the Russian Federation, while having official income, from the amount of which deductions to personal income tax are continuously made. This is explained by the fact that in the case when a citizen pays 13% of the salary in favor of the state, then he has the right to receive this money in turn when he can purchase real estate.
2. Only residents of the Russian Federation are eligible to apply for a tax deduction. At the same time, they are required to stay within the borders of the Russian Federation for at least 183 days. It is noteworthy that this period is forbidden to be broken, that is, if a person ever needed to leave the borders of this state during the countdown of these days, their number is canceled, upon return the period will again have tocount from the first day.
3. It is very difficult for regular travelers to receive this compensation. People whose type of professional activity is classified as folk crafts are not en titled to receive. It is necessary to confirm that a person receives income from this type of activity. The officially unemployed do not fall into this category either.
4. Pensioners whose regular income is more than 5534 rubles. They must earn it themselves and at the same time be officially registered at work, paying income tax every month. This amount should officially appear every month with the pensioner, since no tax is paid on pensions.
5. Underage children. It is possible to get around the limitation of their incomplete legal eligibility, even though some part of the property is immediately registered in the name of the child. His parents or legal guardians must apply for him, provide all documents.

People not eligible for tax refunds

1. Official sole proprietors, as their activities provide them with the opportunity to receive a monthly income that will be above average.
2. Legal entities, as taxes are never returned to the name of the organization.
3. Working citizens who are not registered on the basis of a work book, but conduct professional activities on the basis of an employment contract or illegally.
4. Officially unemployed stratum of the population, registered for unemployment.

Tax refund whenbuying property through the tax

Documents refer only specifically to the tax office to which a person is assigned on the basis of residence or permanent registration in a certain residential area. It should be remembered that a tax refund upon purchase is carried out after the submission of all necessary certificates and certificates.

A package of documents can be submitted on any day when a specific tax office accepts. A tax refund can be issued even after the day when the deadline for the tax return expires. That is, documents submitted after April 30 will be just as valid as those submitted before this date.

It usually takes quite a long time to process income tax refunds. What documents are submitted to the tax office, you need to know in advance, first collect them in full. A passport of a citizen of the Russian Federation is taken. When applying for a minor, a birth certificate is required.

In addition to the basic information about a person's identity, a 3-NDFL declaration is provided, reflecting an almost complete picture of a person's taxes. Help 2-NDFL also tells about deductions, which are state deductions, but it can be taken exclusively from the employer. If a person has only recently started working in a new place, it is necessary to simultaneously provide the same certificate from the previous place of work. Usually, two certificates may be required if a person has been working in a new place for less than a year.

Additional documents

1. Fill in bank account details. They should be drawn up with great care, since there should be no deviations in the numbers. If the person’s application is approved, then the employees of the tax organization will transfer the calculated amount to the specified account. If something is filled in incorrectly, there is no guarantee of a refund from the erroneous account.
2. TIN provided. If a person has not yet managed to get it, then you can quickly take it from your own employer.
3. Need documents that are proof of ownership of the purchased property to make a refund of income tax when buying a property. They are provided in full. Usually this is a contract of sale, although often it is an act of acceptance and transfer of housing. Recently, these documents have been processed in such a way that they are legally combined, that is, both certificates are transmitted simultaneously.

Features of filing documents

With the exception of the declaration and application, all other submitted papers must be provided either in the original or have officially certified copies. You do not need to use the services of a notary to do this. Each person can certify a copy himself. To do this, each original must be signed by the applicant himself, and the phrase “Copy is correct” should be written.

Usually, the main package of documents is submitted, however, depending on the region and the specific situation, tax officials may require other evidence. It is advisable to take with you when going to this organization everything that concernsacquired real estate in order to successfully recover the overpaid tax.

Conditions for income tax refund when buying property

1. Before submitting documents, you must fill out a special application. This should be done very carefully, as any inaccuracies in the information provided may result in a denial of an income tax refund.
2. After submitting a complete package of documents, they are sent for consideration to tax officials. The deadlines for tax refunds when buying real estate are very long, since the tax authority decides to issue the amount of money within three months from the date of receipt of the documents.
3. Sometimes tax officials call a person to clarify any details, but this happens very rarely. When an apartment was purchased, the income tax refund may not be made by the tax office if any documents or circumstances do not comply with the rules.
4. If the application is approved, then after the official end of the consideration of the application, the calculated amount of money is transferred by tax officials to the bank account indicated in the application. A person has the right to use these funds for any purpose, as they have become his property.

Return of income tax from the employer

A person who has acquired real estate has the right to request a tax deduction from his employer, that is, from the organization in which he conductsofficial work. Payments can be received in the form of non-payment of income tax, that is, a person will receive the entire salary in full. This opportunity is provided until all the funds due to a person are exhausted.

To request this tax refund form when buying real estate, you must contact the tax office to get a certificate confirming the person's right to these benefits. To do this, you must submit the main package of documents, but you do not need to take declarations 3-NDFL and 2-NDFL.

Package of documents presented to the employer

If tax officials approve the application, then the issued certificate must be presented to the employer. Together with the certificate, you must provide an additional list of documents:

1. Certificate of registration of ownership of the purchased property.
2. Agreement that indicates the transfer of real estate to the property of a person.
3. Any document that confirms the transfer of funds to the seller.

An application should be sent to the employer's address, which indicates a request for a tax refund when buying real estate by receiving a full salary, from which no funds are deducted to the tax office. This application must be submitted no later than one year from the date of the official conclusion of the agreement governing the transfer of ownership.

To make a tax refund when buying real estate, you must contact the tax office and submit an application along with the rest of the package of documents. If the transaction is executed correctly, the person is guaranteed to receive the payment of funds due to him by law.