How can I get a property deduction

You can get a tax deduction through the enterprise-employer or directly through the FTS. Taxpayers who build their own or purchase ready-made housing have the right to receive a deduction. The amount of the deduction is calculated either as the sum of the taxpayer's expenses for the purchase of housing or the construction of a new house (actually incurred expenses, but not more than 2 million rubles), or as the amount that was used to pay off interest on loans
Tax deduction can be provided only once, the law does not allow re-receipt of tax deduction.
The remainder of the deduction not used in the current year is allowed to be carried forward to subsequent years until its full use.
In the event that the construction of housing in shared ownership is carried out, the deduction is distributed among the interest-holders according to the size of the shares of each of them or in accordance with their written statement.For example, spouses who buy an apartment in the share ownership, can distribute the deduction among themselves in any amounts by mutual agreement. In particular, one of the spouses may receive the full deduction, in which case the second reserves the right to receive a deduction in the future in the case of the acquisition or construction of residential real estate.
If the funds to pay for the cost of purchased housing were transferred by only one of the spouses who purchased housing into shared ownership, then the second one in order to receive a property deduction will be required to submit a document confirming the payment of cash. A power of attorney issued by one of the spouses to the second for depositing money to pay for the cost of housing can be considered as such a document, and it must be executed before the time of depositing money and in the form prescribed by law.
If housing is being built, a tax deduction can be provided no earlier than commissioning and transfer to the borrower of the constructed object.

Date: 09.10.2018, 09:38 / Views: 82235

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