Every citizen of our country can use the right to a property tax deduction 1 time. This right will allow a refund of 13% of the value of the purchased property And if an apartment or house was bought with a mortgage, then you can also return 13% of the amount of interest paid on the loan. To do this, you need to fill out a 3-NDFL declaration and send it along with supporting documents to the tax office.
Features of property deduction for a mortgage
If you purchased real estate with a mortgage, then you have the right to receive a tax deduction for:
- the cost of the acquired housing;
- interest paid on the loan.
These two deductions can be collected separately. This is indicated in subparagraphs 3 and 4 of paragraph 1 of Article 220 of the Tax Code of the Russian Federation. Purchase deduction can be claimed for one property and interest deduction for another.
To receive an interest deduction, the following conditions must be met:
- Loan funds were spent on the purchase of housing.
- The loan must be targeted, that is, issued specifically for the purchase of housing.
- The amount of interest declared for deduction was paid at the expense of the applicant's own funds.
You cannot claim for deduction the amount of interest that was repaid at the expense of:
- employer;
- maternity capital;
- budgets of different levels.
The amount of the deduction is also limited by law:
- no more than 2 million rubles. for the purchase of housing;
- no more than 3 million rubles. for interest.
This means that you can return the maximum from the budget:
- 260 thousand rubles (13% of 2 million rubles) when purchasing real estate;
- 390 thousand rubles. (13% of 3 million rubles) upon repayment of interest.
At the same time, the amount of income tax declared for refund cannot exceed the amount of personal income tax actually paid to the budget in the corresponding year.
In order to take advantage of the deduction, you must fill out a 3-NDFL declaration.
Filling in 3-NDFL
You can fill out the declaration in one of the following ways:
- Manually;
- Online on the FTS website;
- In a special program that can be downloaded on the FTS website.
Filling out the declaration manually is a rather laborious process.
The service for filling out the declaration online sometimes fails, but its convenience lies in the fact that the data from the declaration for the last year is automatically transferred, if the entire amount of the deduction is not refunded.
Consider a way to fill out the declaration through a special program.
First of all, you need to download the program for the year for which you are going to claim the deduction. This is very important, since the tax office annually changes the form of 3-NDFL.
If you submit a declaration for 2017 in the form of 2018, it will not be accepted.
In the "Deductions" section, select "Property deduction" and tick the box to provide a property tax deduction.
Then add information about the property for which you claim the deduction. Press the green plus sign and fill in all the required fields in accordance with the contract of sale and mortgage.
In this case, the value of the property is indicated subject to deduction restrictions. If the cost of housing is less than 2 million rubles, then the full price is indicated, and if it is more, then the amount is 2 million rubles.
The amount of interest paid on the loan for 2018 is indicated on the basis of a certificate from the bank. This certificate will need to be sent to the tax office along with the rest of the supporting documents.
If the amount of the claimed deduction is more than the amount of personal income tax paid by you in 2018, then you must indicate the remainder of the deduction, which is carried over to the next year.
After filling in all the fields, you can view the 3-NDFL printable form. It is enough to click "View" at the top of the program.
Below is a sample of the printing form 3-NDFL, namely the last sheet of the declaration.
Clause 1.12 indicates the cost of the object, taking into account the limitation on the amount of deduction - 2 million rubles.
Clause 1.13 indicates the amount of interest actually paid on the loan.
Since the declaration is submitted for the first time, the amounts are not indicated in clauses 2.3 and 2.4. When filing a declaration for 2019, these points will contain the following amounts:
- In clause 2.3 - 1 218 000. This amount is indicated in cl.2.10., As an amount that is carried over to the next year.
- In clause 2.4 - 450,000. This amount is indicated in clause 2.11. As the amount that is carried over to the next year.
Thus, the deduction amount decreased by the amount of income received in 2018 and amounted to 2,000,000 - 782,000 = 1,218,000 rubles. The interest deduction will only be received after the home purchase deduction has been fully refunded. In this case, the income for 2018 from which personal income tax was paid amounted to 782,000 rubles. (see clause 2.7.).
Information on income and income tax paid is contained in the 2-NDFL certificate provided by the employer. From the amount of income 782 thousand rubles. income tax in the amount of 101,660 rubles was transferred to the budget.
It is this amount that the tax will transfer to the applicant after checking the completed declaration and supporting documents. The check is given no more than 3 months.
