How to return income tax when buying a car

Making a large purchase, for example, purchasing a car, many are calculated to obtain income tax at the rate of 13% of the purchase amount. However, hoping for this payment, the owners of personal vehicles are mistaken: unlike the apartment, the car is not real estate, the law does not provide any additional payments when purchasing it. But you can avoid paying taxes when you decide to sell your car.

First you need all documents that will confirm the amount of your purchase. This may be a certificate account or car purchase agreement when making a deal in a dealership, a seller's receipt about receiving money when buying from hand. If you are driving a car from abroad, keep all the papers and their translation certified by a notary, as well as documents on payment of duties. If you take a car loan, save the purchase agreement and document transfer documents.

Store documents confirming the cost of the car, follows 3 years if you plan to sell it before this period and at a price lower than they bought. After selling your car, fill out the tax return - you need to do this until April 30 of the year, which follows the year of the sale of the car. In his declaration, reflect the deal, point out the last name, first name and patronymic of the buyer, or a law firm that is sold by a car. The amount of sale should be lower than the amount of purchase was, that is, income must be zero. To the declaration, apply documents with the purchase price. Since you suffered losses, then the tax should not be paid.

If you have not taken care of the presence or preservation of documents confirming your costs, you can take advantage of your right fixed by law, do not pay tax from revenue from sales by 125 thousand rubles. That is, if you sell your car for a smaller amount, you do not have to pay tax. Although it will not save you from the need to submit a declaration and an application for the provision of deduction. Similarly, you can act in the same case, if the amount reversed from the sale, more than spent when purchased, provided that it is still less than 125 thousand rubles.

The simplest solution to the issue of tax deduction is not to sell the car before the expiration of the 3-year-old. In this case, the tax deduction relies automatically and you do not need any additional documents. But at the same time, keep all the documents of the car's purchase and sale during the year of sale and the three years following him. You present them if the tax authority is interested in your transaction for any reason.

All cases involving tax deductions are given in Article 220 of the Tax Code of the Russian Federation. Unfortunately, the car under the current legislation is neither the subject of vital necessity nor the subject of luxury, and therefore the tax deduction for it is not laid.