The tax legislation of our country stipulates that when selling an apartment, receiving winnings, items under a gift agreement, funds from renting property or income that were not taxed by tax agents, an individual must submit a kind of report on income received in the form of 3-personal income tax. This rule is enshrined in the duties of taxpayers established by Article No. 23 of the Tax Code of the Russian Federation (Clause No. 1, Clause 4).
We must say right away that a declaration for the sale of an apartment must be submitted without fail if you have owned real estate for less than 3 years. This measure is caused by specific taxation on possible income from speculative transactions in the real estate market, as usually people buy a house to stay in it for a long time. Reporting documents are submitted to the tax authorities at the place of registration by April 30 of the year following the time when you conducted the sale of, for example, an apartment.
If the declaration for the sale of the apartment is not submitted before this date, the seller will be held liable for tax reasons and subjected to a fine of 1,000 rubles. Please note that in general, transactions on the sale of real estate owned by you for more than three years are not taxed. In this case, no reports are submitted to the tax authorities.
The tax return for the sale of an apartment is part of the “Individual income tax” form. It is filled out on sheet “E” taking into account the recommendations specified in the seventeenth chapter of Appendix No. 2 to the Order of the Federal Tax Service No. MMB – 7-3 / 760 @ (adopted in 2011, November 10) or newer versions of this document. You can use specialized reporting programs, which are provided free of charge by the tax authorities.
Here you need to specify the name and initials in the header of the form. Further, in paragraphs 1.1.1 to 1.4.1, the amounts of income received are indicated, which must be confirmed by attaching copies of sales contracts. Subparagraphs Nos. 1.1.2 - 1.3.2 indicate the amount of tax deduction permissible for all objects sold, which cannot currently exceed one million rubles. We draw your attention to the fact that when an apartment is sold for less than a million, and if it is owned for less than three years, a declaration is drawn up anyway.
The declaration for the sale of an apartment in its form can be used to provide information on the sale of property other than apartments, houses, etc. For this, on the same sheet “E” there are paragraphs 2.1. and 2.2., which indicate information on income received from the sale (for example, selling a car), as well as on the amount of tax deductions (in paragraph 2.1.2. - 250,000 rubles, in paragraph 2.2.2. - in the amount of documented income )
Even if you didn’t sell, but bought real estate, it makes sense to carefully store all the documents related to the transaction: from the purchase and sale agreement to bank statements, receipts drawn up by acceptance certificates. They may come in handy in the future when the apartment will be for sale and there will be a need for a document such as a declaration when selling the apartment.