As stated in Clause 1 of Article 220 of the Tax Code of the Russian Federation, you and I have the right to a property tax deduction in the amount received from the sale of an apartment (if you have owned it for less than 3 years), but not more than one million rubles. Therefore, if you sell an apartment at a price that exceeds the specified limit, then from this excess you will need to pay value added tax at a rate of thirteen percent. You need to know some of the nuances in order to correctly calculate the tax on the sale of an apartment.
Instructions
Step 1
Please note that the sale counts as income and is therefore subject to thirteen percent income tax even if you sold it to buy another home. In accordance with the articles of the Tax Code of the Russian Federation, which came into force on January 1, 2005, there are the following rules for levying tax from us, as well as exemption from it for sellers and buyers.
Step 2
The seller of real estate is completely exempt from paying tax if he has been the owner of it for at least three years. In order to receive a tax benefit, write an application to the tax office at the place of registration in a timely manner, otherwise you may be forced to pay both the tax itself and the fine and penalties if you do not do this on time (the deadline is until May 1 of the next year after the conclusion If the seller has been the owner of the apartment for less than three years, he must pay income tax in the amount of thirteen percent of the amount received from the sale of the apartment, which exceeds one million rubles.
Step 3
The buyer does not have to pay income tax on an amount not exceeding RUB 2,000,000. That is, having bought a property for 2,000,000 rubles or more, submit an application to the tax office, and you will be provided with a tax deduction from the above amount. A person has such an opportunity only once in a lifetime. If the value of the property is less than 2,000,000 rubles, then the withdrawal of income tax payment applies to the amount spent. 500,000 rubles have been spent, which means that the deduction will be from 500,000 rubles and will amount to 65 thousand rubles.
Step 4
Contact the Tax Inspectorate for a refund of the tax deduction with a proper statement, and submit the documents:
- certificate of registration of ownership of housing, - purchase and sale agreement; a document proving payment and the completion of the transaction, namely, a receipt from the seller on receipt of funds and an act of acceptance and transfer.
