In order to offset a share of your home buying costs, you need to take advantage of the property tax deduction. If you bought an apartment with a mortgage, then you can still return a certain percentage. But before using the tax deduction at the place of work, you must take a special form from the tax authorities.
Work
The notice should include the name of the organization that will cease to deduct income tax from wages. The application for the tax deduction is submitted together with the notice to the employer. If all the necessary documents are filled out correctly, then the employer provides a tax deduction for the mortgage loan in due time.
Tax office
If you are going to take advantage of the tax deduction on a loan through the tax office, then you must fill out a sample application and attach the following copies:
• Papers confirming the ownership of the property;
• Agreement on the purchase of an apartment or on the rights to real estate in a building under construction;
• Act on the acceptance and transfer of the apartment;
• Supporting documents on the actual payment of all necessary costs included in the tax deduction for the loan;
• Credit agreement.
Rights
Those who officially work in the organization will be able to receive a tax deduction on a mortgage loan. If part of the salary is handed out to the employee without any fixed documents, then the employee can only receive a deduction from official income.
Citizens who are not residents of the Russian Federation, but have lived and worked in its territory for at least 183 days, also have the right to receive a tax deduction.
Women who are on maternity leave can draw up the necessary documents only after going to work. But if the apartment was purchased before maternity leave, then you can submit a certificate of income that was received during the period of home purchase.
