A tax deduction is an amount that reduces the amount of money (income), which, in turn, is taxed. After all, as a rule, the income you receive is only 87% of what you actually earned. Because from every 100 rubles, 13 rubles are deducted by your employer. It is this money that you can return to yourself in the form of a tax deduction in some cases (for example, when purchasing an apartment).
Instructions
Step 1
The amount of the deduction reduces the taxable base or the amount of funds from which you were taxed. Therefore, you will not be able to receive the returned taxes from the state in the form of the full amount of the deduction, but only 13% of this amount, that is, only what was paid by you in the form of taxes. Thus, you will not be able to receive a tax deduction amount more than you paid taxes. For example, 13% of 1,000 rubles is 130 rubles. In this case, you can get 130 rubles if you paid the same 130 rubles in taxes for the year.
Step 2
If you paid less taxes, then you can return only what you paid. The rest of the amount you will be able to receive only next year, because the property tax deduction when buying any real estate, unlike many other deductions, can be transferred to future years. In addition, when calculating, it is necessary to take into account the deduction limit, which is established by law. If the deduction limit, for example, is 2 million rubles, then your deduction cannot be more, and the tax to be refunded will also not be more than 13% of the limit of this deduction. In this case, the tax deduction amount will be 260 thousand rubles.
Step 3
When selling your own property (car or real estate), the amount of the tax deduction depends on how much it belonged to you in time, as well as on the amount specified in the sales contract. Moreover, if you have owned this property for 3 years or more, then you do not need to count anything. The deduction automatically covers the entire amount of the transaction. If this property was acquired earlier than 3 years, then the maximum tax deduction will be 2 million rubles for real estate and for everything else no more than 250 thousand rubles.
Step 4
Thus, in order to calculate the amount of tax deduction, you need to calculate, using your 2-NDFL certificate, what amount of taxes you paid to the state. Then, 13% should be deducted from the required amount from which you want to receive a tax deduction (for example, you paid 30 thousand rubles for tuition). After the generated data compare the results obtained.
