Property deduction is a refund of previously paid income tax if the taxpayer has bought, built, or issued a loan for housing. You can also get a deduction after purchasing a land plot for individual housing construction. You can use this right only once in your life by presenting documents confirming the fact of purchase to the territorial office of the Federal Tax Inspectorate.
Necessary
- - statement;
- - the passport;
- - a package of documents confirming the fact of purchasing real estate;
- - declaration;
- - income statement.
Instructions
Step 1
If you are a citizen of the Russian Federation or live in its territory for more than 183 days during the year and pay income tax, use the right to receive a property deduction. After purchasing a home, you can contact the tax office immediately if you plan to receive a non-cash deduction, in which tax will no longer be deducted from you. If you plan to take advantage of the deduction and receive it in cash, when the entire amount is transferred to the taxpayer's account, contact the tax office 12 months after purchase.
Step 2
The deduction is provided on the basis of Article 229 of the Tax Code of the Russian Federation and in accordance with Federal Law No. 224-F3. The maximum amount that can be obtained is 260 thousand rubles. If the ownership of several persons is registered on real estate, all owners can receive a deduction in accordance with their share indicated in the certificate of ownership.
Step 3
You must submit an application, income statement, passport to the tax office, fill out a tax return. To confirm the fact of the purchase, provide the purchase and sale agreement, certificate of ownership, documents confirming payment for the property. If you have registered the property on credit, you will need a bank agreement and a certificate confirming the amount of the loan issued. Upon receipt of a cash deduction, present the bank account number to which the due amount of the deduction will be transferred to you.
Step 4
After reviewing your documents, the tax office will notify you of the decision. With a non-cash form of deduction, income tax will no longer be withheld from you. You will be exempt from it until the required amount of deduction is collected. Upon receipt of cash, the money will be credited to your account within 30 days after you receive written notification of the decision.
