Today we will be interested in tax deductionwhen buying a home. What it is? And how it can be requested? Understand all these issues and not only we have to in the article below. It's not as difficult as it seems. Especially if a person studies the legislative base.
What is a tax deduction when buying a home?This is the name of the process of refunding a part of the money for a purchase and sale operation. Funds are given to the person who buys real estate. They are allocated by the FTS and transferred to the bank account or card of the applicant.
At the moment, such a process is called the formulation of a property tax deduction. When buying a home, a citizen can receive money:
It is these options that will be studied by us. If you do not use the mortgage, then for a normal purchase of an apartment, too, part of the costs will be returned.
Tax deduction when buying a home in a mortgage -business is not so difficult. Especially if you understand how to act properly under certain circumstances. Under the current law, not every citizen can receive a refund. It is necessary that a person meet the following conditions:
These are the basic rules that everyone should be familiar with. There is one small exception. It applies to pensioners of the Russian Federation.
The tax deduction for the purchase of housing for a pensioner is also laid. The thing is that retired citizens of the Russian Federation are allowed to use the right of transfer of repayment. What does it mean?
A citizen can transfer taxes paid for 3 years for the current period. This means that an elderly unemployed pensioner has the right to receive a refund for another 4 years after the dismissal.
Important! Working old people will draw a deduction for the tax type in the same way as ordinary citizens of the Russian Federation.
Tax property deduction when buying a home implies a return of a certain size. How much can you return under any circumstances?
Generally, money is allocated 13% of the amount under the contract for the purchase of property. But there are certain limitations. You can not return more:
Once these limits are exhausted, a person can not claim a refund. Therefore, citizens are not always able to request a refund.
Important! The applicant does not have the right to receive a larger amount than he has transferred taxes for a particular period.
Do you offer a tax credit when you buysecondary housing? Yes, and on a general basis. The applicant simply needs to act on certain principles. They should be discussed in more detail. Where can I request a tax refund? To date, applications are accepted:
In reality, everything is much simpler than it seems. And that's why everyone decides where to send the application for refund.
Important! The fastest way is the service with direct treatment in the Federal Tax Service.
The right to a tax deduction appears among citizens who acquire for their money this or that property. In our case it is a question of real estate, in particular about an apartment.
The right to return arises immediately after making payments under the contract. But claim a deduction is allowed only for the next calendar year after the conclusion of the transaction.
Money can be requested no more than3 years after one or another expenditure. In the case of a mortgage, a citizen will be able to claim the funds allocated for a loan and interest for the entire 36 months. There is nothing incomprehensible or difficult in this.
Tax property deduction for home purchaseis made out quite easily. Especially if you follow certain instructions. The main troubles with the process arise mainly in the preparation of documentation for the Federal Tax Service.
The step-by-step instruction looks like this:
That's all. In reality, everything is not so difficult. But what specifically can be useful to citizens when making a return on mortgages and for interest on loans?
We start with the general case.The thing is that the tax deduction when buying an apartment under a mortgage agreement will provide for the presentation of various certificates. There is a mandatory list of documentation.
To such carry:
These are the main components that will be useful when requesting any property deduction. It's time to review the list of other documents from the applicants.
Tax deduction for the purchase of housing by spousesmade without any problems. The main thing is to agree on who will act as the applicant. If the mortgage is paid by both spouses, the money can be returned to both citizens. But this is not the most common scenario.
Family couples for property return can benefit from the following components:
All documents are presented only in the original. Their copies too will not be superfluous. There is no need to certify them.
Now we will consider in more detail the references that are needed during the receipt of the tax deduction for the purchase of housing. For example, under a mortgage agreement. This is not such a difficult situation.
When lending during the purchase of property requires:
These documents are attached to the previously listed information. The absence of at least one statement will cause a lot of trouble for the family.
How to get a tax credit when buying a home? This is not the most difficult task. Especially if you prepare in advance for the process.
As we have already said, a person can easilyissue a refund for interest on the mortgage. And first the main property deduction will be spent, then - the mortgage. Therefore, you can return a lot of money. To implement the task, the applicant must take with him:
It is done. No additional information is required to complete the task. Everything is extremely simple and understandable. Even a novice citizen can cope with such an operation.
Getting a tax credit when buying an apartmentin any way provides for a certain paper red tape. It must be treated very carefully. Otherwise, you will not be able to request money.
In addition to the components listed above, the applicant can come in handy:
Men are advised to attach a certificate of deposit or a military ticket. The presence of all listed documents will greatly facilitate the process.
Tax deduction when buying a home in a mortgage is a pretty long operation. And not everyone knows how quickly he will be transferred to the funds prescribed by law.
At the moment, the average period for considering a request for a refund is 1.5-2 months. It will take longer to wait if the citizen applies with the application of the established form to the MFC.
The transfer of money takes another 2months. Earlier, the means can be listed, but this is by no means the most common variant of the development of events. On average, a person spends about 4-6 months to receive a deduction. Quickly request money and pick them up from the bank does not work.
And what if a citizen acquired property on a mortgage using state aid or maternity capital? This question worries many modern families.
At the moment, the right to deduct from the applicant does nottake away. But the amounts transferred from the maternity capital or as a state subsidy should be taken away from the total costs of the contract for the purchase of housing. It is from the received figure that 13% of the deduction will be counted.
What does it mean?State aid and subsidies with maternity capital are not taken into account when calculating a tax deduction. So, in the end, the applicant will receive less than if he paid the transaction only from his own means.
And whether it is possible to face refusal in registrationtax deduction when buying a home? Yes, but such variants do not occur very often. And the citizen should be sure to indicate the reason for refusal in deduction.
Refunds are most often not provided if:
If the reason is in an incomplete package of papers or in the absence of validity of references, you can deliver missing items within 1 month. You do not need to re-apply for a deduction.
Important! If a citizen pays personal income tax in larger or smaller amounts, he will not be eligible for a return. The same goes for entrepreneurs.
The applicant was denied a tax credit when buyingapartments? This does not affect the right of repeated application to the registering body. Therefore, the applicant will be able to re-implement it in the future. The main thing is to prepare in advance and thoroughly this time.
A few words about how to behave when you make a deduction when buying a home with shared ownership. This is a fairly common option deal.
Under similar circumstances, each payer-owner will return the money in accordance with his share in the property. The legislation of the Russian Federation does not provide any other layouts.
The tax deduction after the purchase of housing as a joint property is issued according to the principles described earlier. In this case, the spouses can indicate in the application how much and to whom to return the money.
For example, only one definition is allowed.the recipient. Or the 50/50 return section. The co-owners should make the corresponding decision mutually. It is advisable to discuss a similar question with your spouse in advance.
We figured out how to get a tax deduction when buying a home. This is a fairly simple task if you follow all the listed tips and instructions.
Now everyone knows how much and when hewill be able to receive from the Federal Tax Service of the Russian Federation. The main thing is not to delay the preparation of documentation and regularly pay personal income tax. The lack of formal employment or transfer of income tax will lead to the fact that the applicant loses the right to a deduction before the situation is corrected.
