How to get a tax deduction when buying an apartment: conditions of registration and receipt

Buying an apartment for their own money or making out for its purchase a mortgage loan, the Russians can count on the return of the money invested in real estate. The state believes that buying an apartment is the "right" investment and is ready to compensate something. Individuals from the budget return 13% of the amount spent, based on the cost of housing not more than 2 million rubles.

If the apartment is cheaper, the rest of the deduction can be obtained after the purchase of a second home.

Provided that the property cost more, count on a tax refund of 13% over the designated amount is not necessary. By simple mathematical calculations we find out – the maximum deduction for the purchase of housing or mortgage registration is 260 thousand rubles.

Who has the right to return part of the money when buying an apartment?

Tax resident of Russia, which officially operates and is in the country for at least 183 days a year.

If housing is inherited, donated or subsidized by the state, there is no reason to expect a return of 13%. There is no deduction if the apartment is bought from a close relative (mother, father, sister, brother).

The tax deduction is given to a person once in a lifetime, within the designated amount of 2 million rubles, if he previously took advantage of the privilege, he can no longer count on it. If we are talking about a new building, the state will return the money only after the commissioning of the object, since the act of acceptance is included in the list of documents that require a deduction.

The methods of making the deduction

1. An employee who has purchased a home and is entitled to a deduction may not deduct 13% of the personal income tax on a monthly basis. Write the appropriate application and the employer will not withhold tax. If you officially work several jobs until the limit on the amount designated by the state is over, you can not pay tax anywhere.

2. Return the deduction under the Declaration. Fill in the 3-pit Declaration form and send it to the tax inspection specialists. They will check the document and return the tax to the account. But there is a caveat – the Declaration can be submitted no earlier than the year following the year of purchase.

After buying a property, each person has the right to decide which option of tax deduction is more convenient for him, and in view of the specific circumstances to make a practical choice.