A happy real estate purchaser is a claimant for a tax deduction for the amount of expenses incurred.
Who is entitled to a property tax refund when buying an apartment?
What is the essence of the deduction, how to get it, is described below.
A person who has bought or built a real estate object: a house, an apartment, a room - can legally withdraw part of his income from personal income tax, within the limits established by the current legislation on taxes. Such an advantage is provided for a citizen in accordance with paragraphs. 3 p. 1 art. 220 of the Tax Code of the Russian Federation.
The allowance is made up of expenses such as:
- expenses actually incurred and documented;
- interest paid on a loan for the purchase of a finished or construction of a new home;
- finishing costs.
Up-to-date information on real estate offers can be found on the website of our partner Roomfi
For taxpayers who bought a dwelling before the start of 2016, it is possible to receive a deduction equal to the entire amount of interest paid. Homebuyers after this date can claim a refund of interest, subject to a limit of 3,000,000 rubles.
Comparative deduction calculation
Calculation example 1. A family man in 2015 bought an apartment for 450,000 rubles. On the basis of 2-NDFL, the amount of his confirmed income for this year was 780,000 rubles, and the amount of the withdrawn personal income tax was 101,400 rubles.
The tax code gives him the opportunity to reduce the base taxed on income, within the amount of the limit fixed by law - 2,000,000 rubles. Refunds are defined as 780,000 * 13% / 100% = 101,400 rubles. You can submit a set of documents to the IFTS for the refund of tax paid in 2015 until December 31, 2018. The remaining part of the deduction in the amount of (2,000,000-780,000) = 1,220,000 rubles, he is recommended to choose during subsequent tax periods.
Calculation example 2. Suppose, in 2015, the spouse invested 4,500,000 rubles. In accordance with the certificate 2-NDFL, the amount of his income for the year under review amounted to 840,000 rubles, personal income tax was paid - 109,200 rubles. The taxable income of his wife for the same year reached 360,000 rubles, she paid personal income tax in the amount of 46,800 rubles. The apartment was purchased in the mode - ½ for each spouse.
In accordance with the Tax Code of the Russian Federation, the husband has the right to reduce the taxable base by the amount of the limit proportional to his share, but not more than the amount of income received: 840,000 rubles.
The amount to be refunded will be 840,000 * 13% / 100% = 109,200 rubles.
The amount of the due deduction (2000000 * 1/2-840000) exceeds the amount of personal income tax withheld for the specified year and is carried over to subsequent years.
The wife has the right to reduce the taxable base by the amount of the limit proportional to her share, but not more than the amount of income received: 360,000 rubles. She will be able to reimburse 360,000 * 13% / 100% = 46,800 rubles. The remaining deduction in the amount of (2,000,000 * 1/2-360,000) = 640,000 rubles. selected during the following periods.
A family in which both spouses receive official income will benefit by purchasing an apartment in the shared ownership regime.
Then it will be possible to receive an annual tax refund in a larger amount, which will save funds from inflation.
Tax refund when buying an apartment 2016 – maximum amount
It is impossible to reduce the taxable base by more than two million rubles.If housing is purchased with a mortgage loan, then you can add the amount of interest paid to the deduction for the purchase.
For apartments purchased on a mortgage in 2016 and later, the amount of the deduction is limited: it cannot exceed three million of the loan value.
The maximum amount of deduction per year is limited by the amount of income: you cannot return more than the amount of personal income tax withheld from the taxpayer.
In case of shared ownership, the cost of the deduction for the purchase of a dwelling and the amount of interest paid is divided between the owners in proportion to their share in the apartment.
If the income received for the year is not enough to receive the full amount, the property deduction is carried over to the following years.
Two ways to get a refund
You can return 13% of the income received for the year in one of the following ways:
- through legal or individual with whom the person who bought the apartment has an employment relationship;
- through IFNS.
Let's look at each method:
- In the first case, you are supposed to declare your desire to receive a return at work to the MIFNS. The application is considered by the tax inspector within a month. The result is a notice that the employee provides to the employer. This document is the basis for the exemption of the income of the specified taxpayer from personal income tax until the amount of the deduction is exhausted. Each year, a new notice is required to be brought to the employer until the limit is fully selected.
- Second case obliges the buyer of housing to submit a more extensive list of papers to the Federal Tax Service at the place of registration of a citizen as a taxpayer. Documents are considered by the tax inspector for three months. Having made a positive decision, the MIFTS will transfer the money to the account of the interested person within a month.
What if the common property
When acquiring property in common ownership, spouses are guided by the provisions of the Civil Code of the Russian Federation and the RF IC, according to which the income of a husband and wife is considered as their common property.
Therefore, one person from a couple is entitled to take advantage of the property deduction, regardless of who is listed as the buyer.
The same position is shared by the tax authorities.
If all purchase documents are issued to a spouse who has no official income, as a result of which she cannot claim a tax refund, then by writing an application for the distribution of property deduction between husband and wife in the ratio of 100% and 0%, return part of the costs for husband can buy a home.
Only people who are in official, that is, registered with the registry office, marital relations can claim a property deduction in this way.
Return process and timing
When buying an apartment, the tax refund is made by the tax authorities in the year following the year. For investment agreements concluded on the basis of 214-FZ, it is allowed to return two million of the amount paid in the year the act of acceptance and delivery of an apartment in a new building is issued.
It is possible to return funds for each year separately or for three consecutive years at once. The priority of this or that approach is determined based on the personal preferences of the buyer of real estate.
The refund sequence is as follows:
- collection of documents;
- providing a package of papers to the MIFTS;
- waiting for a decision based on the results of a desk audit;
- receipt of money in the account of the payer.
Documents for tax refund when buying an apartment:
- An agreement confirming the purchase of a property or DDU (copy).
- Acceptance certificate (copy).
- (copy).
- Copies of PQS proving the amount of expenses incurred.
- Certificate from the bank on the interest paid under the mortgage loan agreement.
- 2-personal income tax.
- 3-personal income tax.
- An application with the details of the taxpayer's account, to which the overpaid amount of income tax must be transferred.
- Application for issuance of notice to the employer.
- Birth certificate of a minor (copy) - upon receipt of a deduction for a child under 18 years of age.
The tax deduction calculator will allow you to quickly and free of charge calculate the amount of the deduction when buying an apartment, for the costs of treatment (including expensive ones) and education.
If you have any questions when filling out the fields of the calculator or you need a more detailed calculation - write to us in the online chat or at . We will try to help you!
Types of tax deductions
Or new construction is granted against the costs of acquiring and building residential real estate. This benefit may also include the cost of repairing and furnishing housing and paying interest on a mortgage (if housing is purchased on credit). Since 2008 maximum size the deduction is 2,000,000 rubles.
It involves the return of funds spent on medical services and the purchase of medicines, as well as on voluntary life insurance. The amount of the deduction for ordinary treatment should not exceed 120,000 rubles, while this amount includes the deduction for own education. Expenses for expensive treatment are accepted in full size. If the code "1" is indicated in the certificate of services, the treatment was ordinary, if "2" - expensive.
Provides an opportunity to recover funds spent both on their own education and on the education of children, brothers and sisters. The amount of the deduction for one's own education, as well as the education of brothers and sisters, is accepted in the amount of not more than 120,000 rubles. taking into account the costs of treatment (if any in the year for which the deduction is claimed). The amount of the deduction for the education of children is 50,000 rubles. for every child.
Also, our calculator will calculate the amount of tax refundable on the cost of the apartment and on the interest on the loan. In the first part of the answers - the total amount of tax refundable, and in the second - the tax refundable, detailed by year. So far, the calculator is only for mortgages in rubles.
2) When calculating, it is assumed that housing was bought after 2007 or will be bought in the future.
3) When calculating, it is assumed that a mortgage loan is taken on January 01. If a loan is taken, for example, on July 1, then the actually paid interest on the loan for the first calendar year will be less. The return on interest on the loan is provided only as interest is paid. Therefore, the total figure for the tax refund on interest on the loan will not change, but in detail by year, the interest refund for the first, for example, year you may have less.
4) If you only own a share in an apartment (or house), please enter only your share of the cost of the apartment (or house), up to the limit, and only your share of the mortgage loan. And a full salary. Your limit will be 2 million rubles multiplied by your share. In this case, you will receive only the appropriate share of the monthly payment and the full (correct) tax refund.
How to use the calculator
Please fill in the data below (rounded to the nearest roubles) about your loan, salary and housing that you are going to buy or have already bought. The mortgage calculator will calculate your monthly mortgage payment. Also, our calculator will calculate the amount of tax refundable on the cost of the apartment and on the interest on the loan. In the first part of the answers - the total amount of tax refundable, and in the second - the tax refundable, detailed by year. So far, the calculator is only for mortgages in rubles.
Diagram
How to get the maximum deduction quickly and easily? The easiest way is to quickly prepare the correct documents for the maximum return and submit these documents with Tax. With the Tax, the inspection will approve the documents and they will not have to be redone. You will receive the correct documents and expert advice. And then you can choose whether to take the documents to the inspection yourself or submit them online.
useful links
Notes
1) This mortgage calculator calculates approximate figures based on assumptions.
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2) When calculating, it is assumed that housing was bought and registered starting from January 1, 2014 or will be bought in the future.
3) When calculating the mortgage tax refund by years, it is assumed that the mortgage loan is taken on January 01. If a loan is taken, for example, on July 1, then the actually paid interest on the loan for the first calendar year will be less. The return on interest on the loan is provided only as interest is paid. Therefore, the total figure for the tax refund on interest on the loan will not change, but in detail by year, the interest refund for the first, for example, year you may have less.
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Tax deduction calculator when buying an apartment.
Purchase amount: The field must have a numeric value.
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The field is required
If the result in the last column is negative, then the amount of 13% of the salary for the entire time the loan will exceed the possible deduction - i.e. you can fully receive money in the form of a deduction at work.
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The calculation of the tax deduction is carried out taking into account early repayments on the loan. The calculator shows how much you can get a tax deduction for each year you pay your mortgage. The table shows the amount of interest for each of the years, as well as how much of this amount you can get back next year.
The tax deduction calculator when buying an apartment calculates quite accurately. The main purpose is to calculate the deduction for an apartment. You can only get a tax refund once in a lifetime. If the cost of the apartment is less than 2 million rubles, the tax deduction is 13 percent of the purchase (loan) amount. If the price of housing exceeds 2 million rubles, the maximum deduction from the purchase amount is equal to rubles.
Every year, as long as you make good payments on your loan, you can get a tax refund on the interest earned the previous year.
Ready to take out a mortgage with the best mortgage bank? Fill out an application for a mortgage mortgage bank DeltaCredit.
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The bank is precisely a mortgage bank, i.e. focused on issuing mortgage loans. This calculator is a mortgage calculator Deltacredit. The payment schedule for the Deltacredit loan and the calculations of this calculator are almost the same.
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comments
I have such a question, please tell me, the return of 13% on a mortgage loan comes from the amount of the loan taken. or on interest actually paid.
Thank you in advance for your response.
For the year I pay percent rubles%, salary rubles. month (according to 2NDFL), return from the purchase of real estate 78000. Amount of credit
The return comes from both.
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It’s just that you don’t pay interest all at once, but every month
Tell me, please, the amount of the apartment, the loan, the term is 120 months 12.5% from 02/28/15 to 07/28/17, then 12%, how to calculate the deduction? And secondly, can I receive a deduction from interest now, while I do not have ownership rights, the apartment was bought with a mortgage? And third, if I refinance my mortgage with another bank, will I lose the property deduction and the deduction for interest paid by me?
Make an early repayment with the rate change type. You can receive a deduction and in theory it is not lost
Good afternoon! According to the law, the maximum tax deduction for% is R. and it is important how much interest was paid, your calculator does not think so Why?
Hello. I don’t know where you got the number of rubles, according to the law, the maximum is rubles.
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You are confusing deductions for loans and interest. That's right, he says - a maximum of 13% of the 3 million that you pay in the form of interest to the bank. We'll fix it soon
Hello, such a question, how did you calculate the deduction if the apartment is framed in equal shares of 50/50. Salary 30t.r.?
is the total cost of the apartment.
There are two more conditions to include:
1) you can only refund the tax for the last three years
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2) when buying an apartment on a mortgage, you can return the tax only from the moment you receive the acceptance certificate, and not immediately after receiving the mortgage
Good day! I took an apartment in a mortgage of 2 million. For 3 years in a row I received tax deductions of 0colo. Then I paid off the mortgage, took a new one, according to the law, I can’t get deductions for the second mortgage. Question: It is possible to receive the remaining deductions for the interest on the 1st mortgage. If up to what documents you need to collect. Paid off in 2016.
Good afternoon! I bought an apartment in 2011, applied for a mortgage, which I closed ahead of schedule in 2013. The official salary is the minimum possible to this day. Can I get my mortgage interest paid now?
Yes, you need to contact the tax office.
Please tell me if the apartment was purchased with a mortgage in joint shared ownership with my husband since 2013.
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The deduction for the apartment and for the interest paid to the bank (2013, 2014, 2015) was received last year, but not the entire amount. We contacted the company (they filled out the deduction and interest declaration).
Now we are submitting the year 2016 (according to your calculator, a negative value is obtained in the last column). As I understand it, after reading the link, the tax authority will not pay the entire amount, part of the money will need to be demanded from your employer.
How can this be done. Before payment from the tax or after?
A negative value means that you will receive the full salary at work. The IRS doesn't owe you anything.
I have a mortgage since 2011, I have already received a tax deduction from the purchase amount, now I want to receive it from interest.
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Could you please tell me the sequence of preparation of documents (list of documents) and who to contact?
good afternoon. You need a loan agreement, a certificate from the bank on interest paid. You need to go to the tax office, they will tell you the full package, depending on how you want to receive a one-time payment or from a salary
Dmitry, excellent calculator. I will make a proposal for improvement, for a more complete coverage of situations: you can add a calculation for co-borrowers. A typical example: two spouses take a mortgage on an apartment for 4kk as co-borrowers and both apply for a tax deduction. In total, this will already be 520k (+ interest deduction) of the tax deduction for the family.
Mortgage tax refund calculator
Calculate the tax deduction when buying a home with a mortgage
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Calculation of tax deduction when buying an apartment
The field is required Loan Amount: The field must have a numeric value.
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The field is required Loan term: The field must have a numeric value.
The field is required to fill in months Interest rate: The field must have a numeric value.
The field is required to be filled in % per annum Payment type:
date in the format dd.mm.yyyy (4 digits of the year)
The field is required The field must have a value
date in the format dd.mm.yyyy (4 digits of the year) Consider weekends Payment on the last day of the month Accounting for early repayment on the payment date Payment Only interest after early payment (Sberbank) Annuity on the original debt with a change in% Calculation of interest per month as in Raiffeisenbank
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date in the format dd.mm.yyyy (4 digits of the year) The field must have a numeric value.
The field is required
Accrued interest per year. Possible tax deduction of 13% of the amount of interest paid last year
Calculation features
A tax deduction, like any money from the state, is nice to receive.
To apply for a tax subsidy from the state, you need to contact the tax office at the place of registration. You will most likely need a bank statement showing the interest paid for the year.
I want to warn you right away - it is paid. In VTB 24, they took 150 rubles for it - this is not much.
You will also need to write an application for a subsidy - a sample can be obtained from the tax office. The tax authorities will consider your application within a month - this is exactly the time for consideration.
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With this document, you go to the accounting department and write a statement. And already from the next salary you receive a salary in full, i.e. without subtracting 13 percent.
At the moment, the calculator calculates the maximum amount of tax deduction without taking into account the effect of the new law. According to it, the maximum deduction from the purchase amount is 13 percent of 3 million rubles
There are rules for receiving a deduction:
- You can get a deduction for a targeted loan - that is, for a mortgage. If you take out a consumer loan to buy real estate, you will not be given a deduction
- You can get a subsidy from the state only once in your life. Moreover, if you did not get a deduction from the purchase of 390 thousand from the first mortgage, you will be able to receive this money when you re-mortgage
- You can get a refund of the cost of repairs (on finishing materials). To do this, you will need cashier's receipts with a seal, in which the amount of finishing materials you purchased is written. But this is only if you buy a new unfinished apartment. To receive a deduction, you need to contact the tax office and provide copies of checks. So when repairing, collect checks for finishing materials
- In addition to the deduction from the purchase amount, you can receive a subsidy from the interest paid in the previous year. For example, last year you paid 150 thousand in mortgage payments, of which 100 thousand are interest on the loan. The deduction can be calculated as follows
You can receive this money directly at work if you are officially employed. When completing all the paperwork and submitting it to the employer, he will not deduct income tax from your salary
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Mortgage calculator with early repayments online
Calculator How to save housing?
Mortgage tax calculator online. Payroll deduction calculation
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Return of overpaid interest on a loan in case of early repayment
Most citizens of the Russian Federation have one or even several loans, while many try to “close” the loan as early as possible so as not to overpay.
Few know that when early repayment loan, you can return part of the interest paid to the bank. We will talk about the procedure for returning interest on a loan upon early repayment in the article.
How to get a tax deduction for studying at a driving school? Learn about it from our article.
Is it possible to return?
The ruling of the Supreme Court of the Russian Federation clarified that, according to Art. 809 of the Civil Code of the Russian Federation, interest on a loan is a payment for using a loan, while they must be accrued exclusively for the time of using the lending service.
Since most banks use annuity (equal) payments, when the loan is repaid early, a situation arises when banks unreasonably enrich themselves, that is, a fee is charged for the time of using borrowed funds that was not used by the borrower.
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In connection with this definition of the Supreme Court of the Russian Federation, the borrower has the right, after repayment of the full amount of the loan, to return interest for unused time.
Sample application to the bank for early full repayment of the loan.
Is interest recalculated on early payments?
Is recalculation made when repaying the loan ahead of schedule?
Most banks use an annuity scheme for repaying loans in equal installments, while at the beginning they mostly pay interest for using the loan for the entire period of using the contract, and a smaller amount of payment is the repayment of the “body” of the loan itself.
The loan payment schedule drawn up by the bank is a kind of average option, which assumes that there will be neither early repayments nor delays in repaying the loan.
With an annuity loan repayment scheme, with each fact of early payment, the bank must recalculate the amount of interest charged for the right to use the loan. Such a scheme is used, for example, in Sberbank mortgage loans.
In case of early repayment of the entire amount of debt on the loan, the borrower can recalculate the amount of interest collected for the actual time of using the loan, since until that moment he had paid interest for the entire period of using the loan in accordance with the agreement.
How to get back the overpaid interest in case of early repayment of the loan? Find out from the video:
unjust enrichment
In case of early repayment of the entire body of the loan, it is necessary to calculate the difference between:
- the amount of the borrower's overpayment for the use of the loan (interest) in accordance with the agreement;
- the value of the actual use of the loan.
In case of early repayment between these two amounts, there is a difference not in favor of the borrower, since the monthly payments took into account the use of credit funds by the borrower throughout the entire term of the contract.
The difference between the two indicators will be the amount that is unjustified enrichment of the bank and must be returned to the borrower.
An example of calculating the formula for annuity payments
When calculating the amount of overpayment in case of early repayment, which it is possible to recover, the amount of interest that would be calculated for the actual use of the loan should be deducted from the amount of overpayment calculated according to the loan agreement.
S credit - the period for which the loan was taken (in months);
P credit - the amount of overpayment on the loan for the period S credit (in rubles).
S fact - the actual term of the loan payment (in months);
P fact - the actual amount of payment of interest for the period S fact (in rubles).
We get that the amount of overpayment for the period S fact should have been:
Accordingly, the amount of overpaid interest is V = P fact - P.
You can analyze an example in practice, for example, when applying for a small consumer loan in the amount of 10 thousand rubles for a period of 12 months, at a rate of 16% and early repayment after 5 months.
How to return the state duty from the tax? Read about it here.
P credit = 888 rubles. at a rate of 16% per annum;
P \u003d 888 / 12 * 5 \u003d 370 rubles.
V \u003d 562.08 - 370 \u003d 192.08 rubles. - the amount of overpaid interest.
Online calculators
To do this, it is necessary to enter in one of them the parameters of the loan corresponding to the loan agreement, in the other - the real parameters of the loan, taking into account early repayment.
Having calculated the monthly overpayment on the interest accrued according to the agreement and the actual payment with early repayment, it is possible to calculate the overpayment that can be claimed from the bank.
Action algorithm
How to return interest on a loan repaid ahead of schedule? To apply for a refund of interest, the borrower must go through the following procedure:
- Apply to a banking institution with an application for repayment of the full loan amount up to 30 days before the expected settlement date.
- Repay the entire amount of debt before the deadline specified in the loan agreement.
- Get a certificate from a financial institution stating that there is no debt for the loan provided. The bank provides such certificates upon request absolutely free of charge.
- Calculate the amount of overpaid cash using a formula or using a loan calculator.
- Prepare and submit an application for the return of funds for interest on the loan.
- Wait for payment or, in case of refusal, go to court.
Required documents
To return interest on a loan, you must provide a copy of the loan agreement and a certificate stating that the loan debt has been fully repaid.
You also need a passport of the borrower.
How to make an application?
An application form can be asked from a bank employee, as they are often available in the financial institutions themselves. If the form is not provided, you can make an application yourself in free form. The application must indicate:
- personal passport data of the applicant and the name of the institution;
- the number of the loan agreement and the date of signing;
- contract parameters (term, rate, total amount);
- date and amount of early repayment;
- information about debt closure;
- the amount of calculation of overpaid interest;
- demand to return the specified amount;
- financial details to which the overpaid funds are expected to be returned;
- notice of appeal to the judicial authorities in case of refusal;
- Applicant's signature and date.
How to write an application for the return of insurance on a paid loan? Find out the answer right now.
Refund procedure
After the application with the documents attached to it is transferred to the bank employees, the borrower has the right to expect a positive response from the financial institution.
If the bank agrees, the money is transferred in the way indicated by the borrower in the application.
In the event of the bank's refusal, the borrower's further path lies in the court, which, as a rule, have recently taken his side, referring to the current legislation and the definitions of the Supreme Court of the Russian Federation regarding the essence of overpayment as a form of payment for using a loan and the need to warn banks against unjust enrichment.
Although the Supreme Court has unequivocally determined that the difference between the actual and contractual amount of the loan should be compensated to the borrower, many credit institutions are silent about this possibility or even refuse to pay the difference to the consumer.
Therefore, any borrower should be aware of the possibility of returning overpaid interest and the right to claim them.
Judicial practice on the return of overpaid interest and an example of calculating the benefits of early repayment of a mortgage in this video:
Mortgage interest tax refund
Who can take advantage of the tax deduction?
How many times can you get tax breaks?
Which loans can be reimbursed for interest?
Calculation and procedure for reimbursement of returns
Tax refund methods
- Independently submit a 3NDFL declaration to the tax office. You can do this the next year after making a purchase until April 30th. In this case, after consideration, the tax will refund the entire amount in one payment.
- Take a notification from the tax office and transfer it to an accountant at your enterprise. In this case, he will not withhold all or part of the income tax from you.
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For what period is it possible to receive a deduction for housing purchased in 2015? The possibility of reimbursement of part of the costs of the acquired real estate comes from the year of registration of the certificate of ownership (if the transaction is formalized by a contract of sale), or an act of transfer of property with equity participation in the construction of a house. For example, by purchasing a home in 2015, the taxpayer from the next year, 2016, draws up a package of relevant documents confirming the purchase and, with the approval of the Federal Tax Service Inspectorate, acquires the right to a personal income tax refund in the amount of 13% of the cost of housing with established restrictions. The taxpayer can issue a tax refund over the next three years, the pensioner - four years (2016, 2017, 2018, 2019). Features taken into account when making a deduction Consider how to return 13 percent from the purchase of an apartment.
How to get 13 percent from the purchase of an apartment? 13% refund from the purchase of an apartment
At the same time, if the apartment was purchased after 01/01/2014 by married spouses, each spouse can receive a property deduction in the amount of these limits. You can read more about this information in the article: Features of obtaining a property deduction when buying a home by spouses. Example 1: In 2016, Ivanov A.A.
bought an apartment for 2.5 million rubles. At the same time, in 2016 he earned 500 thousand rubles and paid income tax of 65 thousand rubles. In this case, the maximum amount that Ivanov A.A.
will be able to return, is 2 million x 13% = 260 thousand rubles. But directly in 2016, he will be able to receive only 65 thousand rubles (and 195 thousand will remain for return in the following years). Example 2: In 2014 Vasiliev V.G. bought an apartment for 1 million.
rubles. In 2017 Vasiliev V.G. I found out about the possibility of a tax deduction and decided to apply for it.
How to return 13 percent from the purchase of an apartment?
The only thing is that you can return income tax for no more than the last three years. For example, if you bought an apartment in 2014 and decided to make a deduction in 2017, then you can get back the tax for 2016, 2015 and 2014 ( detailed information about when and for what years you can return the tax you can find in our article: When and for what years to apply for a property deduction when buying a home? The entire balance of the property deduction is carried over to the next year.
Attention
That is, you can return income tax for several years until you “exhaust the entire amount” (see Tax Deduction Amount). The entire procedure for obtaining a deduction usually takes from two to four months (most of the time it takes the verification of your documents by the tax office).
How to calculate the tax deduction when buying an apartment?
One-time deduction). Amount of tax deduction The amount of tax that you can return is determined by two main parameters: your expenses when buying a home and the income tax you paid.
- In total, you can return up to 13% of the cost of housing or land, but the maximum deduction amount should not exceed 2 million rubles (i.e. you can return a maximum of 2 million rubles x 13% = 260 thousand rubles ).Note: for housing purchased before 2008, the maximum deduction amount is 1 million rubles.
- For each year, you can return no more than transferred to the income tax budget (about 13% of the official salary). At the same time, you can return the tax for several years until you return the entire amount (see.
How to get 13 percent of the purchase of an apartment: procedure, return conditions
Important
Such a deduction in the Tax Code of the Russian Federation is called a property deduction, it is possible only from the amount of the transferred tax. If the tax was not received by the budget, i.e. the person did not work or worked unofficially, then the right to a refund does not come.
So, the legal benefit that comes with taking a step like buying an apartment is getting 13 percent of the costs incurred. There are limits on the amount of the purchase, which we will discuss later.
Info
The deduction can be received by: the homeowner or their official spouses; one of the parents of a minor owner, if they have not previously issued a deduction. You can make a deduction only if you spend your own funds.
If the purchase was made at the expense of the financial resources of the organization, budgets of various levels, maternity capital, then the right to reimbursement of costs does not arise. Now let's figure out how to get 13 percent from buying an apartment.
Tax refund when buying an apartment. Who is eligible for a tax deduction?
For greater clarity, we will analyze the calculation mechanism using examples. An example of calculating the amount Consider examples:
- the Mayevsky family in 2016 took out a mortgage for a odnushka apartment in a new district of Magnitogorsk. The price of the apartment is 1,200,000 rubles, the mortgage is issued for 2 years at 14% per annum (overpayment 1,200,000 * 0.14 * 2 = 312,000). We consider the deduction: 1,200,000 * 0.13 + 312,000 * 0.13 \u003d 196,560 rubles.
Now consider the case when you need to apply restrictions. - Buying an apartment with a mortgage in 2015) will cost Mr. Plyushkin 6,510,000 rubles, of which 2,100,000 will be paid to the seller, and another 4,410,000 will be paid over 15 years in the form of bank interest. In this case, both amounts exceed the limits, so the refund is 650,000 rubles (2,000,000 * 0.13 + 3,000,000 * 0.13). Directly for 2016, Plyushkin will be able to return 95,000 rubles, because it was this amount of personal income tax that the employer transferred for the year.
Tax deduction when buying an apartment / house / land
The Federal Tax Service or the employer the following set of documents:
- certificate 2-NDFL, which the employer is obliged to issue to the employee upon request;
- a document confirming the acquisition of real estate, and in case of its purchase after 07/15/2016, an extract from the Unified State Register of Real Estate;
- papers confirming additional expenses for finishing the premises, as well as bank and payment documents indicating the targeted spending of funds;
- an application addressed to the head of the IFTS for a deduction.
Date and place of submission of documents It is necessary to submit these documents to the tax office at the place of residence in the reporting year, for example, if you purchased real estate in 2014, you must report this during the period of the relevant declaration company. You can also specify the conditions for the return of previously paid tax.
How to get 13 percent from the purchase of an apartment
It is important to remember: if the cost of the apartment is below 2 million rubles, then the buyer has the right to use the balance in future acquisitions of real estate. A similar rule applies to the purchase of property from the beginning of 2014.
Previously, the calculation algorithm was applied according to different rules: it was possible to receive a deduction only for one purchase (even if the cost of housing was significantly lower than 2 million rubles), and there were no restrictions on the deduction for a mortgage loan. Therefore, when purchasing housing in installments, it is necessary to take into account the peculiarities of the possibility of obtaining the right to a deduction, because if it arises before 2014, documents for reimbursement of expenses should be submitted after the full cost or part of it, equal to 2 million rubles, has been paid, since this can only be done for one object.
Tax deduction calculator when buying an apartment
So, for example, about one and a half million rubles in the Nizhny Novgorod region can cost a residential building, in St. Petersburg for this money you can only buy a room on a remote outskirts. The maximum amount of the described payment is 2,000,000 rubles.
It is set in order to make the payment of the deduction standard. In fact, the taxpayer will receive no more than 260,000 rubles, since this amount is 13% of 2,000,000 rubles.
If you buy a home with a mortgage, the payment ceiling will be higher - 3,000,000 rubles. In the same case, when housing was purchased for a smaller amount, in case of its re-purchase, a second deduction can be granted for the amount of the remaining funds up to the maximum amount of payment. At the same time, it is worth remembering that money for a second apartment can not always be returned.
How to calculate the return of 13 from the purchase of an apartment
You can read more about this possibility in our article - Repeated property deduction for mortgage interest For more information about the restrictions on obtaining a property deduction, you can read the article: One-time property deduction when buying an apartment / house. How to get a deduction? The process of obtaining a deduction consists of: collecting and submitting documents to the tax office, checking documents by the tax office and transferring money.
You can learn more about the process of obtaining a tax deduction with an indication of the terms here: The process of obtaining a property tax deduction. The process of obtaining a deduction can be simplified by using our service. It will help to issue a 3-NDFL declaration and other documents for deduction in 15-20 minutes, and will also give detailed instructions on submission of documents to the tax authorities.
