Every citizen of the Russian Federation who works officially has the right to receive 260,000 rubles from the state once in a lifetime. You can get this amount when buying a house, apartment or plot of land for yourself or your minor child. This operation is called - property tax deduction.
In what specific cases can you get 260,000 rubles
You can count on this amount from the state for the direct purchase or construction of housing. This can be a private household, a room, a separate apartment, or their shares.
You can also get a tax deduction when purchasing a land plot for construction or with a housing object located on it, or refinancing loans for the purchase of housing and construction.
260,000 thousand rubles can be received as compensation for the costs of finishing / repairing housing in the event that it was purchased from the developer without finishing.
When the tax deduction is not provided
When purchasing housing from related persons. They can be relatives or employers.
It is not worth counting on money when paying by another person, or if the tax deduction has already been received earlier for another object.
How the tax deduction amount is calculated
To receive 260,000 rubles from the state, it is necessary that the cost of the purchased object be no more than 2,000,000 rubles (13% of this amount is 260,000).
However, upon payment of mortgage interest, income tax can be refunded in full, without restrictions. This amount may even be higher than the return amount for non-mortgage purchases. In one year, you can return an amount that does not exceed the amount transferred to the budget.
The right to a tax refund is retained by a citizen of the Russian Federation for several years until the refund amount is 260,000 rubles.
What documents must be submitted to the tax office
Documents must be submitted to the tax office no later than three years from the date of purchase of real estate (land).
To receive a tax deduction, you must have:
- identification;
- documents confirming expenses;
- an application for a tax refund and a 3-NDFL declaration;
- certificate 2-NDFL (to confirm the transfer of income tax to the budget).
