Property tax deduction is an opportunity to save money on the purchase of real estate. The deduction can be obtained in two ways: through the tax office or at the place of work. You can use it by submitting a package of documents to the tax office, no later than three years from the date of registration of housing. The property tax deduction can only be used once.
Necessary
- Application for the provision of property tax deduction;
- Copies of documents confirming actual expenses for new construction or purchase of an apartment or house (copies of receipts, receipts, payment orders, checks, etc.);
- Copies of documents confirming the ownership of an apartment or residential building (copies of the certificate of state registration, sales contract, etc.);
- Details of the organization through which it is planned to receive the property deduction.
Instructions
Step 1
The amount of expenses directly related to the construction or acquisition of an object is limited. From January 1, 2008, property deduction is provided from an amount not exceeding 2,000,000 rubles, but not more than the cost of the purchased housing. Previously, this tax deduction was RUB 1,000,000.
Step 2
To receive a property tax deduction at work, you must contact the tax office at your place of residence to confirm your right to receive a property deduction.
Step 3
Within 30 calendar days, you will receive an official confirmation from the inspection in the form of a notification confirming the right to deduct to the home buyer. The notification indicates the year for which the property tax deduction is provided, the amount of the property deduction and the details of the organization that is entitled to provide it.
Step 4
The notice from the tax office is forwarded to the organization, which will not withhold personal income tax from wages.
Step 5
Most likely, within one year, the employee is unlikely to have time to use the entire property deduction. In this case, the amount of the tax deduction balance is carried over to subsequent years until full use.
Step 6
Property deduction can be obtained not only from the purchase amount of real estate, but also from the interest on the loan agreement for the purchase of this real estate. To do this, you need to take with you to the tax office a copy of the loan agreement and a certificate of interest paid under the agreement for the previous year with a package of basic documents.
The tax office, in turn, will include this information in the notification.
