How To Pay Tax On The Sale Of A Share In An Apartment

Table of contents:

How To Pay Tax On The Sale Of A Share In An Apartment
How To Pay Tax On The Sale Of A Share In An Apartment

Video: How To Pay Tax On The Sale Of A Share In An Apartment

Video: How To Pay Tax On The Sale Of A Share In An Apartment
Video: Capital Gain Tax - How to Save Tax on Sale of Property #StayHome and Learn Money #WithMe 2024, April
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Not only wages are taxed, but many other ways of generating income as well. For example, in some cases you will need to pay the state part of the money received for the sale of a share in an apartment.

How to pay tax on the sale of a share in an apartment
How to pay tax on the sale of a share in an apartment

Instructions

Step 1

Find out if you need to pay 13% income tax. If you have owned your share in an apartment for more than three years, then you are completely exempted from paying such an amount. In the event that your ownership came later, you have the right not to pay tax at all, if the cost of the share in the housing has not exceeded one million rubles. Otherwise, you will be required to pay tax incidence of 13% of the amount resulting from subtracting one million from the value of the share.

Step 2

Contact your local tax authority even if you are exempt from paying tax. On the spot, write a statement in which you state the reasons for granting you a tax credit. Such paper should be submitted no later than May 1 of the year following the date of sale of the share.

Step 3

File a tax return that includes your tax benefits. You can download a copy of the declaration, as well as special programs for its automatic filling on the website of the Federal Tax Service. In addition to filing a declaration in writing, there is also the possibility of filling it out on the Internet. To do this, register on the "Gosuslugi" portal. Go to your personal account and submit your tax return online. If it is approved by the regulatory authorities, come to the tax office in person and sign a paper copy of the declaration. Thus, you can save time on filling out paperwork.

Step 4

Get the details and information from the tax office about how much you will need to pay. This applies to those who have owned a stake in an expensive apartment for less than three years. Check the due dates for tax payments. If you do not comply with them, you may be fined. Save your tax receipt. It will be proof that you made all the calculations at the right time.

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