Buying a house or apartment - is not only a happy event.With the acquisition of property rights to housing owner can rely on the use of the tax deduction.The essence of this exemption is to reduce the tax base, which is taxable.The maximum size of the tax deduction of 2 mln. Rubles valid today for real estate purchase contracts concluded after 01.01.2008.In this case, this means the amount taken into account, not only related to the acquisition of real estate, but also towards its original landscaping.If the purchase housing is the primary market, the need for repairs must be documented.
Features of the tax deduction
First of all, you can take advantage of this privilege once, regardless of the number of acquired properties. tax deduction available only to owners of age with a permanent source of income.If the apartment is purchased in the name of the pensioner, received as a gift, or a transaction carried out between close relatives, the tax deduction can be used.This option is unavailable and entrepreneurs for whom real estate - land, associated with the conduct of commercial activities.
important point for the tax deduction is a lack of the purchase of real estate at the expense of the funds received from the budget (for example, maternity capital) or from third parties.But the owners of acquiring property through a mortgage loan, the opportunity to increase the size of the established tax deduction.For this situation, the maximum amount of 2 mln. Rubles does not include interest paid on the loan.
order of registration tax deduction
For tax credit property owner is necessary to determine exactly where he will exercise his right.With self-handling to the tax office tax deduction provided in the form of refund of taxes for the previous year.This will require to submit a package of documents, which are assigned to the 3 months.Appeal is made to the tax office of the district where the registered owner of the property.So how to apply for a tax refund is not set the statute of limitations, it can be done at any time of the year following the year of acquisition of property.It is important not to forget the timely submission of the declaration of income.
Those who wish to save time and effort, it makes sense to issue tax deduction through your employer.In this case, the payment of interest will be paid without deduction of income tax as long as the tax base does not make the required amount.If the owner has several employers, it would be logical to use the right to deduct where the maximum salary.
