The tax deduction can be made out by any person who works officially and has bought real estate. He is appointed for the purchase of residential premises or land intended for the construction of a residential building. It is paid only if certain conditions are met. You can apply for it at the Federal Tax Service or at the place of work. Funds are paid not only for the purchase of housing, but also for the interest paid on a mortgage loan. In any case, the applicant prepares certain documents for the tax deduction on the mortgage. Initially, it is advisable to receive a deduction for expenses for the purchase of housing, and only after that apply for a discount on interest paid.
Benefit conditions
Most often, citizens when buying residential real estate resort to the help of banks, so they get a mortgage loan. It is divided into two parts, as it consists of the main debt and interest on the loan.
You can count on a deduction on interest paid only on the condition that a targeted loan was issued for the purchase of a particular object. Documents for a tax deduction on a mortgage depend on whether a citizen applies for a benefit at the Federal Tax Service or at the place of work.
Who can arrange?
Before preparing documents for obtaining a tax deduction on a mortgage, it should be decided whether a citizen can count on this benefit at all. Citizens can count on it under the conditions:
- for them annually transferred to the budget funds submitted by personal income tax;
- only premises for permanent residence are acquired;
- if an object is drawn up for several citizens, then everyone can receive a deduction on the basis of the existing share;
- previously a citizen should not have exhausted the exemption;
- spouses can independently determine in which shares the return will be distributed.
They will not be able to count on deduction for non-working pensioners, entrepreneurs working under simplified regimes or people who work informally, since personal income tax is not paid for them.
Deduction amount
The amount of benefits depends on various factors, which include the value of real estate and the amount of funds transferred to the Federal Tax Service in the form of personal income tax for the last year of work of a citizen. But at the legislative level, there are certain restrictions:
- the deduction for the purchase of housing is calculated as much as possible from 2 million rubles. Therefore, taxpayers can receive only 260 thousand rubles .;
- for interest paid, 13% of 3 million rubles is returned, so you can get a maximum of 390 thousand rubles.
It is advisable to initially file documents for a tax deduction on a mortgage based on the cost of buying a home, and only after its exhaustion, collect documentation on the interest paid.
Making a basic deduction
All people who bought property and pay taxes can count on it. It is provided upon purchase of an object for its own or borrowed funds. It is equal to a maximum of 260 thousand rubles. It can be issued at the place of work or through the Federal Tax Service.
Most often, citizens prefer to contact the tax service, since such a decision allows annually to receive a sufficiently high amount equal to the personal income tax paid for the previous year.
Interest return
If a mortgage loan is issued for the purchase of real estate, then a refund may be given on the interest paid. Its features include:
- documents for tax deduction on mortgage interest must contain an extract from the bank, which indicates exactly how much money was transferred by the borrower to repay the loan;
- if the entire deduction equal to 390 thousand rubles has not been fully exhausted, then the balance cannot be transferred to future purchases, in contrast to the basic benefit;
- such a refund is provided only on the condition that a loan is actually issued for the purchase of real estate, and not just the money received on the basis of a regular consumer loan is used.
Both deductions can be made at the place of work of the taxpayer. This method allows you to receive a salary for a long period without collecting personal income tax.
Loan requirements
To issue such a privilege is allowed only when taking into account many requirements. They are presented even to a loan obtained for the purchase of real estate. Therefore, a mortgage must be issued for a property tax deduction. Documents submitted to the Federal Tax Service must be proof that the target loan has been issued.
Directly in the loan agreement should indicate that the funds will be used to purchase housing. Therefore, the money is not given into the hands of the borrower, but is sent directly to the seller of the selected object.
It will not be possible to take advantage of the privilege if the property is acquired at the expense of the state or the employer.
Standard Documents for Mortgage Tax Deduction
Initially, it is advisable to use the basic return assigned to each buyer of real estate, regardless of where the funds are taken for this process. To do this, it is important to correctly prepare the correct list of documents for a tax deduction on a mortgage. These include:
- passports of all property owners;
- 2-NDFL certificate containing information on the citizen’s earnings, as well as how much money was transferred to the Federal Tax Service in the form of personal income tax for the year of work;
- a statement in the form of the tax service, which indicates that it is required to receive a deduction for the purchased property;
- a well-formed 3-NDFL declaration containing data on the purchased property and owners, as well as a direct calculation of the deduction is made in it, and it is advisable to use special programs offered by the Federal Tax Service to compile the document, which simplifies the process of calculating and filling out the declaration;
- payment documents confirming that the necessary funds were transferred to the seller of real estate, and they can be represented by bank statements, receipts and other papers;
- loan agreement;
- a document confirming that the right to real estate was drawn up for the buyer, and for this a certificate of registration or extract from the USRN can be used;
- mortgage payment schedule;
- if at the same time a deduction for interest is requested, then an additional statement is taken from the bank containing information on how much interest was paid by the applicant.
FTS employees may request additional documents. They depend on the features of lending and the purchased property.
If you purchase commercial property that is immediately transferred to the housing stock, a refund is still not assigned.
Nuances of interest deduction
Many people have to resort to the help of banks to buy a home. In this case, they can count not only on a basic return, but also on a discount on interest on a mortgage. Documents required for the tax deduction for interest are presented by the following papers:
- a statement stating that the taxpayer claims exactly the deduction on interest paid;
- 3-NDFL declaration, which indicates how much money was transferred to the bank in the form of interest;
- certificate 2-NDFL, with which you can understand how much money can be received by the applicant for a year of work;
- loan agreement drawn up with a specific bank;
- payment documents confirming the payment of interest;
- schedule on the basis of which the debt to the bank is repaid;
- an extract from a banking institution, where it is prescribed, how much was paid as a payment of interest.
It is advisable to collect all documents immediately before contacting the Federal Tax Service, so they should be relevant at the time of contacting this organization. The full list of documents for a mortgage tax deduction can be found only in the regional branch of the Federal Tax Service. Usually, no additional papers are required, but tax officials often suspect fraud, which can only be removed with the help of additional papers.
What do you need with shared ownership?
Most often, mortgages are issued by young people who are officially married. When registering housing, shared ownership is chosen, therefore, when applying for a deduction, additional securities will be required:
- passports of owners;
- certificate of marriage between citizens;
- if people distribute returns on their own, then a statement is drawn up from them stating in which shares they will receive a benefit;
- documents for minor children.
Many people prefer to distribute the deduction on their own. Actually apply for a benefit to a citizen who receives a high salary and works officially. Therefore, a statement on the distribution of benefits is included in the documents. The tax deduction for an apartment on a mortgage in this case is provided only to one borrower.
The nuances of filing documents
Most often, citizens prefer to apply for a privilege at the Federal Tax Service, since in this case one can count on large amounts of funds transferred to the account annually until the deduction is completely exhausted. Therefore, you should understand how to apply for a mortgage tax deduction. What documents are required? The main list is given above, but you can find out exactly about the list of documentation directly at the regional branch of the Federal Tax Service.
The rules for filing documents include:
- they can be handed in personally to a tax officer, sent by mail, or even used electronic channels of communication for these purposes;
- the documents are prepared in duplicate, as this will allow the applicant to have papers with a note on the date of adoption, so if the consideration period is delayed, then the available documents will become the basis for filing a claim;
- you can submit documentation for three years after the purchase of real estate, which will allow you to get a really large amount of money at a time;
- Only two months are given for the verification of documents to employees of the Federal Tax Service, after which within another month funds are transferred to the bank account indicated by the citizen in the application.
When drawing up an application, citizens often forget to indicate the size of the account in it. In this case, they are called to employees of the Federal Tax Service in the department to indicate these details.
How to make a statement?
It is important to prepare a list of documents for the tax deduction. Mortgage interest is refunded only if all requirements are satisfied. Therefore, it is important to correctly compose a statement containing the following information:
- the name and code of the Federal Tax Service is given, where the documentation is transmitted;
- information about the applicant, submitted by his full name, place of work, registration address and contact details;
- the conditions of the return are prescribed, as well as the method by which the applicant will receive the money;
- all documents attached to the application are listed;
- indicates the account number where the money will be transferred.
You can compose this document on a computer or on paper.
The procedure for obtaining benefits
Almost every real estate buyer thinks about how to get a tax deduction on a mortgage, what documents are needed for this process, and how the procedure is performed. The most difficult moment is the collection of the necessary documents. The direct procedure for applying for benefits through the Federal Tax Service is divided into stages:
- an apartment for purchase is selected;
- a mortgage loan is issued for the purchase, and it is important to make sure that the selected loan is targeted;
- The down payment is transferred;
- interest is paid on the use of borrowed funds;
- all payment documents are stored by the borrower, as in the future they will be required in the process of applying for benefits;
- next year it’s already possible to prepare documents for a tax deduction on mortgage interest or on a standard return;
- the collected documentation is transferred to the department of the Federal Tax Service;
- verification takes two months, after which within another month the funds are transferred to the bank account specified in the application.
If you know in advance what kind of documentation is required, then there will be no difficulties with applying for the benefit.
Nuances of contacting the employer
According to the law, it is possible to apply for a return not only directly to the Federal Tax Service, but this benefit is also issued at the place of employment. The procedure is facilitated by the fact that you need to collect the necessary documents only once.
An application with documents for an apartment in the Federal Tax Service is preliminarily filed in order to receive a certificate confirming that the citizen really has the right to a specific amount of return. This certificate with other securities is transferred to the accounting department of the company where the citizen works. Starting next month, salaries will be paid without collecting personal income tax until the deduction is exhausted.
Conclusion
A deduction can be made out not only for the purchase of housing, but also for interest paid to the bank if a mortgage loan was used to purchase real estate. The registration procedure requires the preparation of certain documentation, the full list of which can be clarified in the department of the Federal Tax Service.
Each borrower independently chooses whether a return will be processed at the tax office or at the place of employment.