In Russia, citizens have the right to apply for a variety of tax deductions. Subject to certain conditions, a person will be able to reimburse part of the expenses incurred for certain transactions to the personal income tax expense. This is very beneficial. Next, we will try to study the documents for property deduction. In addition, we will familiarize ourselves with the procedure for obtaining the corresponding return and with general data on operations.
Description
First you need to find out what a property deduction is. What is it for? And in what sizes?
Property deduction - a refund of part of the money for the purchase of real estate against the income tax paid. By purchasing housing or land, a citizen can regain a certain amount for the operation.
Moreover, property deductions are made for:
- purchase of real estate immediately;
- mortgage
- mortgage interest.
Documents for property deduction will vary depending on the situation. A little later we will get acquainted with possible variations of the documentation for reimbursement of expenses incurred.
Conditions for deductions
Unfortunately, in Russia there are many rules that apply to tax deductions. Not always a person will be able to exercise their right to a refund of money from personal income tax.
Here are the conditions that must be met when requesting a refund for property:
- Property is acquired in the name of the applicant. In the case of shared ownership, all co-owners of the property claim for a refund.
- The money spent on the transaction must be the property of the applicant.
- An agreement on the acquisition of real estate is drawn up for the one who will qualify for the deduction.
- The applicant must be at least 18 years old. With emancipation, a refund for the purchase of real estate is possible from 16 years.
- A citizen must have a permanent job and pay personal income tax to the state treasury.
- You can not return more money than was paid to the state treasury in the form of income tax.
- The amount of personal income tax is necessarily 13%. A rate higher or lower than the specified percentage takes away the right to deduction.
- Refunds are allowed for the last 3 years. This means that the limitation of applications minus 36 months.
That's all. Now you can find out which documents for a tax deduction will be useful in a particular case. But first, we’ll figure out how much you can get back for the deal.
Refund Amount
Documents for property deduction when buying an apartment must be collected in advance. Only this will save you from possible problems in the future.
How much can I get back for real estate transactions? Property deduction provides for payments up to:
- 260 000 rubles - if a citizen buys real estate without a mortgage;
- 390,000 rubles for a mortgage.
It should be remembered that a person can maximize return to himself 13% of the transaction amount, taking into account the specified limits. They are provided for life. As soon as the applicant has spent a total of property type deduction of 260 thousand rubles and 390 thousand, respectively, he will no longer be able to claim compensation for the expenses incurred.
Moreover, one cannot demand more money than a person translated in the form of personal income tax in a given period. For example, if in 2013-2016 a citizen paid 200,000 rubles in the form of “income”, then it is precisely this amount that he will be able to return for the purchase of an apartment in 2013.
Main papers
Documents for property deduction should be prepared in advance. Their package will vary depending on the circumstances. Therefore, we will consider further possible layouts.
It is mandatory to prepare a refund for the purchase of real estate
- applicant's identity card;
- income statements;
- tax return form 3-NDFL;
- application for a deduction;
- title documents for property (USRN statement);
- details of the account to which the money will be transferred;
- receipts confirming the expenses of the person.
But this is only the beginning. Further extracts will change. What documents are needed for property deduction?
For family
If we are talking about a lonely person, then the above references will be enough. Only when applying, you need to attach a contract of sale of real estate to the corresponding list of securities.
But what if a family person claims a refund? In such circumstances, the applicant may be required to:
- prenuptial agreement;
- birth certificates of all children;
- marriage certificate;
- refusal of the spouse from deduction in favor of the applicant (optional).
If there are adopted children in the family, it is the citizen's responsibility when applying for a property deduction to include proof of the relevant fact. That is, you will have to prepare certificates of adoption.
Important: if the spouse also claims to be deductible, you will need to attach certificates of income.
Mortgage
What documents are needed for property deduction in Russia, if we are talking about a mortgage? Loans for housing are provided in the Russian Federation more and more often. And this operation does not impose a taboo on processing the refund of money paid for real estate.
If the applicant took an apartment or land in a mortgage, he needs to prepare:
- loan approval from the bank;
- schedule of upcoming payments;
- mortgage agreement.
All receipts of payments made by a citizen are also attached to the relevant application.
Important: if a family person claims for a deduction, you will additionally need to form a package of certificates from the previous list.
Mortgage interest
Documents for obtaining a property deduction are diverse. This moment gives citizens a lot of trouble and problems.
If desired, a person can return the interest paid on the mortgage. This is a fairly common scenario.
In order to achieve the desired result, the applicant needs to supplement the previously indicated package of references with extracts on interest on the loan and proof of repayment of the corresponding debt. This will be enough.
It is recommended that all the extracts listed above be provided in combination "original + copy". Then from the Federal Tax Service there will be no significant issues.
About statement
Do you plan to receive a property deduction? Documents to tax citizens should be brought in full. Otherwise, the applicants will be refused a refund.
Where can I get the application in the established form? And how to fill it?
It is best to take the application forms at the registration authorities - MFC, Federal Tax Service. They will certainly give out forms that are sufficient to fill out correctly. This is done in a couple of minutes - signature tips and writing patterns will quickly tell you how to be.
In the application for the tax deduction indicate:
- Applicant's full name;
- passport data of the payee;
- Bank account details for which funds will be transferred;
- information about the acquired property;
- list of documents for property deduction attached to the application;
- approximate amount of return (preferably);
- request for a tax deduction.
As practice shows, there should be no problems. Filling out a deduction application is not difficult.
How to deduct
Are you planning a tax deduction? What documents are useful for this idea, we found out. And what is the procedure for receiving money for a corresponding request?
It is necessary to adhere to such an algorithm of actions:
- Generate a package of statements for a refund. We have already met with possible variations of the documents.
- Fill out a deduction application.
- Submit the application with the prepared certificates to the Federal Tax Service by registration or to the local multifunctional center.
- Wait for a response from the tax office.
After that, it remains only to wait. If the Federal Tax Service allowed a refund, you should expect the funds to be credited to the account indicated in the application. This is not a very quick operation, you have to be patient.
Terms of service
We met with a property deduction. Personal income tax and documents for a refund are extremely important components of the entire procedure. If a person does not pay income tax, he will not be able to demand cash from the Federal Tax Service. And the lack of the above references makes the request process impossible.
Making a deduction of any type is a very long process. The application is considered for about one and a half to two months. The same amount must be expected to transfer money to the applicant's bank account.
It follows that on average 3-4 months are spent on the return of expenses for property, sometimes up to six months.
If the applicant is refused, he has a month to rectify the situation without re-submitting a deduction request. For example, a person may bring missing papers.
State aid and return
It is worth paying attention to another important point. We found out what documents for property deduction should be prepared by citizens in a particular case. And we also got acquainted with the basic conditions for submitting applications.
Some families buy housing with government support. For example, by investing maternal capital in a transaction. What will it come to?
Ideally, it is better not to request a deduction for property purchased with state aid. This relieves a lot of problems and hassle.
If a person has submitted a standard form request to the Federal Tax Service, and the employees considered the petition to be justified, the deduction amount will be calculated without taking into account the amount invested in the form of state aid. That is, the cost of housing would be reduced by the amount of invested public funds. Are you planning a property tax deduction? What documents are useful for this operation? From now on, the answer will no longer make you think.