Calculating the size of the property tax deduction is quite simple. It depends on the nature of the transaction, on the income from which you are entitled to the indulgence, and its amount. In many cases, this is the entire amount of the transaction specified in the purchase agreement, or the mortgage interest paid during the year. Often, the amount of deduction itself is of greater interest, and how much money should be returned to you on this basis.
It is necessary
- - transaction price for the sale of property, purchase of real estate or the calculation of interest on a mortgage;
- - calculator.
Instructions
Step 1
The amount of tax deduction for the sale of property (real estate, car, etc.) depends on how long it has belonged to you, the property has been sold or other property and the amount in the purchase and sale agreement.
If you have owned it for 3 years or longer, you do not need to count anything. The deduction includes the entire transaction amount automatically.
Step 2
If less, the maximum deduction amount is 2 million rubles. for real estate and 250 thousand for everything else. If the transaction price is higher than the indicated amounts, your deduction is equal to 2 million or 250 thousand rubles. respectively. If less - the amount specified in the sales contract.
Step 3
The situation is the same if you bought a property and previously did not use the right to deduct on this basis. If the apartment is cheaper than 2 million rubles, the deduction is equal to the amount that you paid for it (strictly for the apartment, commissions of notaries, realtors and other payments do not count). If it is more expensive, the amount of the deduction due to you is equal to the named 2 million rubles.
Step 4
A special case is mortgage interest. To calculate this deduction, take the bank printout of your payments with interest on a separate line. If the statement is monthly, add up all the values indicated in the corresponding field. This will be the amount of tax deduction for which you are entitled to claim.
Step 5
Well, now the most interesting question is how much money you can not pay or, if the tax has already been paid, the state should return.
In the case of the sale of property that you have owned for more than three years or less, but which is cheaper than 2 million rubles, if it is real estate, and 250 thousand for all other options, you can not count. Just don't pay tax on this transaction.
If the property that you owned for less than 3 years was sold for more than the named amounts, subtract them from the price of the property sold (under the sales contract) and calculate the tax on what remains.
Step 6
If the purchased property cost you 2 million rubles. and more expensive, the amount due to be returned is 260 thousand rubles. At a lower price, it is calculated from the entire transaction amount. The same applies to mortgage interest, the deduction for which is in addition to that due in connection with the purchase of real estate.
Step 7
The refundable tax is considered according to the same principle as the tax payable: the amount in one case of a deduction, and in the other - of taxable income or its part that is subject to taxation, is divided by 100 and multiplied by 13, or 13% of it is calculated using calculator.
