When buying an apartment, a person often gives most of his savings, so help from the state will not be superfluous. It is possible to return part of the money if you perform a certain sequence of actions.
Tax deduction
For real estate that has been acquired as a one-time payment, the excess tax refund is calculated in full if the total price of the property does not exceed 2,000,000 rubles. When purchasing real estate through a mortgage, a person will be able to receive full compensation only if the value of the property does not exceed 6,000,000 rubles.
The amount of deduction, the amount of which is determined by the state, is calculated only from the money that a person paid personally when buying an apartment. Income tax is not refunded for making additional payments, they are not compensated. If the property is acquired by several owners upon acquisition, each of them receives tax compensation in the amount equivalent to its occupied part in the premises.
Features of tax deduction
When a person buys real estate with a price of less than 2,000,000 rubles, then even after a few years you can get the missing amount to get the full amount of compensation, and not to calculate the percentage from each new acquisition.
If a person is simultaneously engaged in the sale of real estate, in which he lived until recently, and then decided to purchase a new property, the proceeds of 13% can be used to pay tax on the sale of his own apartment. This function may be required only though the property has been owned for no more than 3 years.
Persons entitled to a tax refund
- People who are citizens of the Russian Federation, while having official income, from the amount of which deductions to personal income tax are continuously made. This is because in the case when a citizen pays 13% of the salary in favor of the state, then he has the right to receive this money, in turn, when he can acquire real estate.
- Only residents of the Russian Federation have the right to apply for a tax deduction. Moreover, they are required to stay within the borders of the Russian Federation for at least 183 days. It is noteworthy that this period is forbidden to break, that is, if a person ever needed to leave the country during the countdown of these days, their number is canceled, upon return, the period will again have to be counted from the first day.
- For regular travelers, this compensation is very difficult to obtain. People whose type of professional activity is classified as folk crafts are not eligible to receive. It is necessary to confirm that a person receives income from this type of activity. Formally unemployed do not fall into this category either.
- Pensioners whose regular income is more than 5534 rubles. They must earn it themselves and at the same time be officially registered at work, paying income tax every month. This amount should officially appear every month with a pensioner, since pension is not taxed.
- Minor children. You can get around the limitation of their incomplete legal competence, even though some part of the property is immediately executed for the child. For him, his parents or official guardians must submit an application, provide all the documents.
People who are not eligible for tax refunds
- Officially issued IPs, as their activities provide them with the opportunity to receive a monthly income that will be above average.
- Legal entities, since taxes are never returned to the name of the organization.
- Working citizens who are not registered on the basis of the labor book, but conduct professional activities on the basis of an employment contract or illegally.
- Officially unemployed stratum of the population, registered on unemployment.
Tax refund when buying property through tax
Documents apply only specifically to the tax office to which a person is assigned on the basis of residence or permanent registration in a certain residential building. It should be remembered that the tax refund upon purchase is carried out after the submission of all necessary certificates and certificates.
A package of documents can be submitted any day when a specific tax is accepted. Tax refunds can be issued even after the day the tax return ends. That is, documents submitted after April 30 will be as valid as those submitted before this date.
Usually, a fairly long time is drawn up for the return of income tax. What documents are submitted to the tax office, you must know in advance, pre-collect them in full. Take a passport of a citizen of the Russian Federation. When applying for a minor, a birth certificate is required.
In addition to basic data on a person’s personality, a 3-NDFL declaration is provided that reflects an almost complete picture of a person’s taxes. Certificate 2-NDFL also tells about deductions, which are state deductions, but it can only be taken from the employer. If a person only recently began to work in a new place, it is necessary to simultaneously provide the same certificate from the previous place of work. Typically, two certificates may be required if a person works in a new place for less than a year.
Additional documents
- Bank account details are filled in. They should be drawn up with great care, since there should not be any deviations in the numbers. If the person’s application is approved, then the tax organization’s employees will transfer the calculated amount to the indicated account. If something is filled in incorrectly, there is no guarantee of the return of money from an erroneous account.
- Provided with TIN. If a person has not yet managed to get it, then you can quickly take it from your own employer.
- We need documents that are proof of ownership of the acquired property in order to refund income tax when buying real estate. They are provided in full. Usually this is a contract of sale, although often it is an act of acceptance of housing. Recently, the execution of these documents is such that they are legally combined, that is, both certificates are transmitted simultaneously.
Features of filing documents
With the exception of the declaration and statement, all other submitted papers must be provided either in the original or have officially certified copies. You do not have to use the services of a notary public. Each person can assure a copy of himself. To do this, each original must be signed by the applicant with his own hand, while the phrase “Copy is correct” should be written.
Usually the main package of documents is submitted, however, depending on the region and the specific situation, tax officials may require other certificates. It is advisable to take with you when going to this organization everything related to the acquired property in order to successfully carry out the refund of excessively paid tax.
Personal income tax refund conditions
- Before submitting documents, you must fill out a special application. This should be done very carefully, since any inaccuracies in the information provided may become a reason for refusing to refund income tax.
- After submitting a full package of documents, they are sent for consideration to tax officials. The terms for the tax refund when buying real estate are very long, since the tax one decides to issue a sum of money within three months from the date of receipt of the documents.
- Sometimes tax officials call a person to clarify any details, but this is extremely rare. When an apartment was purchased, income tax refunds may not be made by the tax office if any documents or circumstances do not comply with the rules.
- If the application is approved, then after the formal end of the consideration of the application, the calculated amount of money is transferred by the tax officers to that account with the bank indicated in the application. A person has the right to use these funds for any purpose, since they have passed into his property.
Employer income tax return
A person who has acquired real estate has the right to request a tax deduction from his employer, that is, from the organization in which he conducts official labor activities. Payments can be received in the form of non-payment of income tax, that is, a person will receive the entire salary in full. Such an opportunity is provided until all the funds that a person is entitled to have been exhausted.
To make a request for this form, which provides for tax refunds when buying real estate, you must contact the tax office to get a certificate confirming the person’s right to these benefits. To do this, you need to submit the main package of documents, but you do not need to take the declarations of 3-personal income tax and 2-personal income tax.
The package of documents presented to the employer
If tax officials approve the application, then the issued certificate must be presented to the employer. Together with the certificate, it is necessary to provide an additional list of documents:
- Certificate of registration of ownership of the acquired property.
- An agreement that indicates the transfer of real estate to the property of a person.
- Any document that confirms the transfer of funds to the seller.
An application should be sent to the address of the employer stating the request for a tax refund when buying real estate by receiving a full salary, from which money is not deducted to the tax office. This application must be submitted no later than within a year from the date of the official conclusion of the contract governing the transfer of ownership.
To make a tax refund when buying a property, you must contact the tax office and submit an application along with the rest of the package of documents. If the transaction is completed correctly, a person is guaranteed to receive the payment of funds due to him by law.