How To Fill Out A Tax Return For Property Deduction

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How To Fill Out A Tax Return For Property Deduction
How To Fill Out A Tax Return For Property Deduction

Video: How To Fill Out A Tax Return For Property Deduction

Video: How To Fill Out A Tax Return For Property Deduction
Video: How to fill out Schedule E Rental Property on your tax return 2024, April
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Submission of a declaration is an obligatory component of the exercise of the taxpayer's right to a property deduction. It does not need to be filled out only in the case of the sale of the registered property (car, real estate, etc.), which belonged to you for three years or more. In all other cases, it is necessary to do this. The easiest way is to use the program called "Declaration".

How to fill out a tax return for property deduction
How to fill out a tax return for property deduction

It is necessary

  • - a computer;
  • - the most recent version of the "Declaration" program;
  • - documents confirming your income for the last year, payment of tax on them and the right to property tax deduction.

Instructions

Step 1

Collect all documents proving your income and tax payments. In practice, these are certificates of the 2NDFL form from all your tax agents, various sales and purchase agreements and self-tax receipts. These documents contain all the data necessary to be included in the declaration, and it must be filled out strictly on their basis.

Step 2

If you do not have the Declaration program, visit the official website of the Main Research Computing Center (GNIVTS) of the Federal Tax Service of Russia and download the latest version. So, to declare income received in 2010, you need the "Declaration 2010" program. If you have such a program, still go to the website of the State Research Center of the Federal Tax Service of Russia and, if necessary, reinstall the latest modification.

Step 3

Fill in all the sections that are relevant to your case on the basis of the available documents. Not relevant, for example, about income from abroad, if you did not have any, or about deductions to which you are not entitled, simply do not fill out.

Step 4

If you are claiming a home purchase deduction, go to the Deductions tab. Then click the house icon. Check the box next to "Grant property tax deduction". Check the type of contract that is relevant to your case - sale and purchase or investment. Select the type of property, type of owner and taxpayer attribute. Then enter the address of the object, the date of the deed of transfer of housing and registration of the title to it. After filling in all the required fields, click "Proceed to Enter Amounts".

Step 5

Enter in the appropriate fields the numbers relevant to your case and documented. For example, those specified in the purchase and sale agreement, a statement from the bank with deduction for mortgage interest, etc.

Step 6

When selling property, enter information about the buyer (name and TIN are enough) among other sources of income received in Russia. Then give the command "Add income" (bottom green plus), enter the amount of income, the month in which it was received and select the deduction code from the drop-down list.

Step 7

Save the declaration on your computer, print it and take it with the set with other documents to the tax office at your place of residence in person or send it by mail in a valuable letter with acknowledgment of receipt.

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