How to get a tax deduction

Taxation has always substantially hitting our finances.The fact that it is subject to any of our dealings in which we profit.Pay taxes and if we buy or sell real estate or property.However, there are several loopholes that allow tax cuts.One of them - this is a property tax deduction.What is it and how to get it?

All owners, including the future must remember this important information: the property tax deduction each person can only get one once in a lifetime.That is, once you submit an application for this operation, you will return a certain amount you paid as a tax on the purchase and sale of apartments, your name appears in the database of residues.Second time to file a petition, you do not have rights.The next important question is: who has the right to property deduction when buying an apartment?It's people who live in the country regularly and properly pay taxes.However, there are a couple of nuances: the apartment or house should be bought by them from their own funds or mortgage loan.If the

apartment was purchased for them by relatives, employers and other physical persons, the property tax deduction is not made.Deductions can only get the people who made the deal in 2001.At this time, the law of this tax rebate in force.However, the property tax deduction has a shelf life: the amount paid in taxes on the property, you can return as long as from the date of the sale in less than 3 years.If the time came, the owner automatically loses the right to the benefit of the transaction.However, he has a chance to take advantage of this bonus, if he again will make property transactions.

There are other nuances: parents pay property deduction on children.However, this happens only if the child is not an adult.In this case, the refund will be calculated from the total taxes paid, and not with any of its parts.If the child has reached the age of majority is the same owner of the apartment, like you, he can get a tax deduction on.By the way, return the amount that he will receive, will be much higher than yours.However, from that moment, he loses the right to this benefit.We remind every citizen can get a tax deduction only one time in his life.So try to use this chance wisely and profitably.

To provide documents and any package requires the tax office to pay you deduct?The application must include you in the tax inspection department, in which you made out a sale transaction and pay the full amount of the tax.Together with the application, written strictly according to the model, you must provide the following documents: first, a contract, which confirms the fact of the acquisition of property.Another important document - a paper that is a testament to the fact that you are the owner of an apartment or house.If you participated in the joint construction, will serve as evidence of ownership of the act of reception and transmission of the construction site.

next step is to bring the paper, which confirms that you have listed the n-th sum of money to the seller.This may be a receipt, the receipt, check, etc.If the property was acquired by you in the loan, you are required to bring the tax authority certificate from the bank on which interest is paid.As well as a copy of the credit agreement itself.

It should also provide the paper with all the jobs that you have to pay taxes on 13 percent rate.Especially it concerns the period when you've got an apartment and need property tax deduction.By the way, the property for which the data relied benefits - it's only residential.Buying land in this case is not considered.