How to return 13 percent of the purchase

When buying a property in accordance with Russian law, each of us has the right to return 13 percent of its value. This can be done once in a lifetime by receiving a property tax deduction in the form of a paid income tax.

Instruction manual

one

Getting paid tax is pretty simple. First you need to complete the transaction in the registration service, where you will be given a document confirming the ownership of the purchased housing, as well as a contract of sale with a mark on registration. Once you have these documents in your hands, you can contact the tax office.

2

At the tax office, you will be required to receive a 2-NDFL certificate for the previous year, which will indicate the amount of income tax paid to the budget. In addition, you will have to fill out a tax return. This must be done before April 1 of the year following the year of acquisition of housing.

3

You can also get a property deduction if you purchased an apartment in a mortgage. In this case, you have the right to receive not only 13 percent of the cost of housing purchased, but also 13 percent of the amount of interest paid. In this case, the maximum amount of interest compensation in the legislation is not specified. But to receive a tax deduction from the cost of an apartment in excess of 260 thousand rubles. (13% of 2 million rubles.) You can not. Those. if you purchased an apartment worth 3 million rubles, you can return only 260 thousand rubles.

4

In order to return the tax paid on the amount of interest transferred to the bank, you need to get a certificate of monthly loan payments with a breakdown in the payment of principal and interest. In this case, the amount should be indicated in rubles.

5

If you purchased housing in shared ownership, being, for example, married spouses, then each owner has the right to receive a property deduction. If housing was acquired in shared ownership for parents and minor children, then the parents are entitled to receive a property deduction for the child.

6

You should be aware that you can not return 13% of the cost of housing in full. You can’t get more than you paid to the budget in the reporting year. In subsequent periods, you will be able to receive the remainder of the tax deduction until you fully return it. Therefore, you will have to collect the necessary documents every year.

note

Thanks to the state co-financing program, a borrower who has bought a house using a mortgage loan can not only return 13 percent of the cost of housing, but also receive a loan repayment equal to 13 percent of the total cost of housing. Moreover, in contrast to the above restrictions when buying an apartment, the law does not limit the amount of privileges on interest rates when buying an apartment on a mortgage.

Useful advice

Once in your life you have the right to return income tax (13%) - if you bought or built a house for yourself. If at the same time you took a mortgage loan, then you can return 13% from the interest you paid in the bank.

13 percent of the purchase of an apartment documents