Property tax deduction for an apartment. Mortgage apartment: tax deduction

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

When buying a home, a tax deduction for an apartment is due. It consists of several parts, but is invariably present and amounts to a significant amount. To work correctly with this aspect, you need to study its features.

What does the tax deduction consist of?

There are three components that make up the tax deduction for an apartment:

1. For new construction or the purchase of a finished construction facility in the Russian Federation or a certain share, a land plot.
2. For the return of interest on loans taken from organizations operating in the Russian Federation or from private entrepreneurs.
3. To reduce interest on loans taken from banks when the amount is used for construction or the purchase of a finished share in housing.

Tax deduction amount

The tax deduction for an apartment in the maximum amount can be obtained when buying an apartment worth 2,000,000 rubles. If the total purchase amount is greater, then the tax deduction is still calculated from 2,000,000 rubles. largestthe amount of the deduction can be applied both to one acquired property object and to their group.

When a loan is taken to purchase your own housing, the tax deduction for the apartment is calculated from the maximum amount of 3,000,000 rubles. This amount is not spent to cover the costs associated with the acquisition of an apartment, but to pay off the loan taken. Restrictions on the tax deduction apply to loans that were taken after January 1, 2014.

If a person who is a taxpayer has not received all payments in full, then he has the opportunity to receive the rest of the money at the onset of each next tax period.

Expenses when accruing a tax deduction

When new construction is carried out or property is purchased in a finished house, the following costs are determined:

1. Designing documents for which projects are carried out and estimates are calculated.
2. Purchasing various materials for the construction of buildings and additional structures.
3. Acquisition of residential premises, considering cases when unfinished housing is bought.
4. Performing work on the construction and finishing of structural elements.
5. Organization of a complete line of communications, including the supply of light, water and gas.

Calculation of tax deduction when buying an apartment

The amount of the tax deduction includes the following components:

1. Purchasing a home.
2. Purchasing the rights to a certain property in a house,which is not yet completed.
3. Purchasing all necessary building materials.
4. Finishing works that are used directly on an object purchased exclusively for housing. This item also includes the design of documentation, which determines the estimate for the entire list of additional work related to the completion and decoration of residential premises.

In order for the tax deduction to take into account the amount that goes to the completion of construction and facing the premises, it is necessary to indicate in the contract for the purchase of housing that the house has not yet been completed. Other expenses that are not included in the list do not matter when compiling a tax deduction. If it is necessary to carry out redevelopment, purchase of furniture and sanitary equipment, execution of all necessary transactions, then citizens are obliged to sell all this for personal money. When a pensioner buys an apartment, the tax deduction is automatically calculated only in case of his active work and official employment.

Tax deduction is not used in some situations

Cases in which the tax deduction is not taken into account:

1. In the case when payment for construction or finished housing was made on behalf of employers or any other persons, from a part of the amount of maternity capital or finances that are in the budget.
2. If a standard contract for the sale of an apartment is signed between relatives, that is, interdependent parties.

The exact amount of taxdeduction

If the property was acquired in shared ownership exclusively before January 1, 2014, then the amount of the tax deduction will be equally distributed among its owners. After this time, this privilege is revoked. The property deduction is distributed to each owner, depending on what specific part of the expenses he incurred when acquiring a particular property.

When parents purchase housing with their children, they have the right to refuse to distribute the tax deduction in parts, and take the entire amount, since it goes to one family. Sometimes housing is purchased under an exchange agreement with payment. In this case, the tax deduction is also distributed according to all parameters, since the conclusion of this agreement does not contradict the law, in particular, the requirements of the Civil Code of the Russian Federation.

Property that both spouses buy after marriage is recognized as their common property, so the tax deduction is given to them without branches. In this case, the amount is divided by mutual agreement.

How to get a tax deduction?

In order to receive a tax deduction, you must be a taxpayer and take the following steps:

1. The declaration is carefully filled out, guided by a single form of 3-personal income tax.
2. A certificate from the accounting department is brought, which must be taken at the place of work. It shows the amounts received and withheld. It is developed according to the uniform form 2-NDFL.

When the tax deduction for an apartment is calculated, documentsare prepared in the following list:

1. Certificate confirming the fact of registration of ownership, which is necessary when independently acquiring both a fully built residential building and a construction site that is in the process of being finalized.
2. Agreement confirming the acquisition of an apartment or room, as well as the act of transferring a complete apartment or a share in it. A certificate of registration of ownership is also suitable. The list of documents varies depending on the type of transaction.
3. When a land plot is purchased, on which a certain building will be erected on its own, it is necessary to provide a certificate of registration of ownership, drawn up exclusively for the acquired land.

Copies of payment documents

When the tax deduction for an apartment is taken into account, the documents must be collected and systematized without fail:

1. Confirmation that the taxpayer purchased property with personal money. To do this, you must present certain papers. These are various receipts that are paid on credit orders, bank statements that confirm the transfer of funds from the taxpayer's account to the seller's account; cash or sales receipts; acts confirming the facts of the purchase of certain goods from individuals, where the necessary data about the seller must be entered - those contained in the passport.
2. Evidence confirming proper paymentloan or interest accrued upon the conclusion of a loan agreement. Mortgages also fall into this category. The tax deduction is calculated according to a special plan. If there are no cash receipts, in this case such documents may be special extracts, as well as certificates from the organization that issued the loan that all the necessary interest has been paid. When an apartment is purchased, the tax deduction documents (more precisely, their availability) are provided in full.

Documents for the purchase of an apartment in joint ownership

When housing is acquired in joint ownership, the following documents must be provided:

1. Copy of marriage certificate.
2. A written agreement, which is a statement for accrual to each party of a part of the tax deduction equivalent to the funds spent or assigned by personal agreement.

Property tax deduction for an apartment when contacting an employer

If you contact your employer, you can receive a tax deduction before the end of this tax period, but you must first confirm the right to receive this privilege with the tax authority. To carry out such an event, the taxpayer must:

1. Write a special statement. A tax deduction for an apartment can only be received after it has been submitted. It specifies the claim for the right to receivetax deduction based on the facts listed.
2. It is necessary to fully prepare copies of all documents, without which it is impossible to receive a tax deduction for an apartment.
3. Refer to the tax authority at the place of permanent registration a correctly and accurately completed application with a pre-assembled and systematized package of necessary documentation. All paperwork must be in excellent condition so that you can easily receive a tax deduction for the apartment.
4. After a month, get permission from the tax authority to receive the entire amount of the tax deduction. This will happen if all the rules are followed, and the person has provided a complete package of documents, otherwise the process of forming and receiving a tax deduction may become more complicated and protracted.

To get a property tax deduction for an apartment, you need to collect a full package of documents and be sure to contact the tax authority. The amount will only be granted if all the conditions regarding the purchase of the property and the submission of the application have been met. Then a person or a group of persons is waiting for a rather voluminous sum of money.