For many citizens, the possibility of returning the amount of income tax is becoming a good news when buying a new apartment. This means that the state returns you a previously paid tax in the amount of 13% of your official wage. Therefore, acquiring housing, take care in advance about the tax deduction documents in order to return its blood earned funds. Of course, in this right there are many restrictions and nuances that will be disassembled in detail in this article. Carefully read all the details of the income tax back, the terms of the procedure and the procedure, also you will find a list of necessary documents for deduction in your favor.
Who is the return of 13% of the cost of the apartment
You can take advantage of your right to any citizen who honestly pay taxes. Specifically it is about income contribution of 13%, which is written off by the employer in favor of the tax service every time you receive salary. It is possible to correctly call such a procedure by the phrase "property tax deduction", it is operating in official documents in the execution of deduction. It is aimed at improving the overall life of citizens who want to acquire or improve their housing.
At the same time, it is completely unimportant, you take a mortgage loan, make up a purchase and sale deal on other conditions or calculate the savings - the tax will be deducted from the total amount of the transaction and mortgage interest.
Thus, if you pay taxes and purchased an apartment, and also made repair in it - boldly apply documents to the property tax deduction, and you will definitely return the tools.
How much can you return funds from buying an apartment back using the tax deduction
Of course, you can't return taxes infinitely. The state establishes a certain norm regulating the maximum amount of payment. For 2017, quotas are installed:
- The maximum amount from which the tax deduction is produced is 2000,000 rubles. That is, 13% of this amount gives us the number of 260,000 rubles. It is these tools that you can get back.
- If you purchase housing in a mortgage, you will first request the main tax deduction of 13% of the amount of the first contribution, and then deducting the same interest on subsequent contributions in the amount of interest in mortgage. Here is one nuance, the maximum amount of deduction for mortgage percentages is 30,000,000 rubles, and therefore you can return 390,000 steering wheel.
At first glance, these schemes look quite difficult, but in practice everything is easy enough. Let us give an example:
- Citizen N bought an apartment worth 3 million rubles. Thus, it can only get 260000 rubles back, since the return amount is limited to two million.
- But another citizen M bought an apartment in a mortgage for 6 million. He can return 390 thousand rubles, since the mortgage percentage of the quota is higher.
- There is another citizen B. His apartment costs 1500,000, and he will receive his 13% of this, but can he get a deduction in the future for the rest of 500,000? You will read the answer below.
Since 2014, a convenient law has been introduced, which allows you to get the balance of deductions after the repair or purchase of another real estate. However, do not forget that you can get deduction once in my life. Thus, you can dwell your interest after the next purchases, but the entire amount of the return may not exceed 260,000 or 390000 per mortgage contributions.
How to return 13 percent from the purchase of an apartment - how to get a property deduction
If you decide to take advantage of your single right to receive 13% of the cost of housing and repair, then you will have to collect such a package of documents:
- The original of your passport is either a certificate replacing it.
- Application for return income tax.
- Declaration 3 ndfl.
- Help 2 NDFL from your place of work. It reflects the amount of your paid taxes per year.
- Confirm your expenses. This may be a contract of sale or discharge from the bank.
The entire package is fed to the tax inspection. You can get an answer no earlier than 3-4 months. At the same time, you have to have documents for ownership and confirmation of expenses.
How soon can you get 13% of the cost of housing
At about this stage and is waiting for you the most annoying surprise: you can receive such an amount of the payment of the tax that they themselves paid.
For example, you pay 67,000 income tax per year. Your amount of the cost of the apartment allows you to return all possible 260,000 rubles. Thus, per year, you can not receive more than 67,000 property deductions, and therefore, you will return it for about three years.
This is a long procedure, but this requires the law to distribute payments as fair as possible.
Do not forget that you can submit to deduct within three years after the transaction and return the amounts of 13% of two million or three million, respectively.
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