How To Get A Home Purchase Tax Deduction

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How To Get A Home Purchase Tax Deduction
How To Get A Home Purchase Tax Deduction

Video: How To Get A Home Purchase Tax Deduction

Video: How To Get A Home Purchase Tax Deduction
Video: Tax Deductions For First-Time Homebuyers 2024, April
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Every Russian once in a lifetime has the right to a tax deduction when buying a home. If he bought a house or apartment, the state will refund him taxes that he had previously paid on the entire value of the real estate, if it cost less than 2 million rubles, and part, if more expensive. To do this, he must submit a package of necessary documents to the tax office.

How to get a home purchase tax deduction
How to get a home purchase tax deduction

It is necessary

  • - declaration in the form of 3NDFL;
  • - documents confirming the existence of income and the tax paid from them on income of individuals at a rate of 13%;
  • - documents confirming the purchase of real estate and its payment;
  • - application.

Instructions

Step 1

Save all documents related to the transaction for the purchased housing: purchase and sale agreement, bank bills, seller's receipt of receipt of money. The tax office will also want to see a copy of the title deed for your home, as only the owner is entitled to the deduction. Accordingly, payment must be made on his behalf. Collect all documents confirming your income taxed with personal income tax at a rate of 13%, and the payment of tax on them (2NDFL certificates, if necessary, an agreement, printouts of receipts to a bank account and other confirmations, receipts self-payment of tax).

Step 2

Fill out the 3NDFL form declaration. The easiest way to do this is using the Declaration program, the latest version of which can be downloaded from the website of the Main Research Center of the Federal Tax Service of Russia.

It will not be difficult to understand its interface, and all the data that must be entered is in your supporting documents.

Step 3

Write a statement to your tax office asking them to provide you with a property tax deduction on your home.

If you prefer to personally take the package of documents to the tax office, remove copies from it and ask to make a mark of acceptance on the second copy.

You can also send documents by mail with a valuable letter with a list of attachments and return receipt.

Step 4

Within three months, you must be informed of the decision. You can then receive the refundable tax in your bank account or through your employer. In the first case, you must write a statement to the tax office indicating the details for the transfer. In the second, you will be given a notice, which you will take to the accounting department of the employer or other tax agent. On its basis, personal income tax will not be deducted from you until the amount due to you to be returned is exhausted, but no longer than the next three years.

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