Tax deduction when buying an apartment in the mortgage

The buyer of the mortgage property can receive a deduction in the amount of income tax. Get a tax refund can be put on sale of any housing. Tax deduction when buying an apartment in a mortgage is governed by the provisions of Art. 220 of the Tax Code of the Russian Federation, as well as a number of explanations from the Ministry of Finance and the Federal Tax Service on how to issue an appeal and receive payment in 2018.

When provide

Return tax for previous years to any taxpayers, regardless of nationality. The main condition is that a citizen (or an individual with a different citizenship) is employed in Russia and makes regular deductions for personal income tax.

Property deduction allows you to get:

  1. Return on a mortgage transaction, including a loan to build a house.
  2. Return of interest paid on the loan.

The basis for the approval of the deduction is the availability of a targeted housing loan.

When calculating payments for the year will take into account:

  • the amount of interest paid;
  • the cost of the apartment purchased;
  • the amount of tax deductions.

You can not get a refund on transactions concluded between close relatives, as well as the purchase of housing from the employer. The right can not use the organization and entrepreneurs who buy real estate for the needs of production.

The moment of occurrence of the right is determined depending on the situation:

  • if the apartment has already been commissioned, the period of the beginning of charges – from the date of registration of real estate;
  • while the dwelling is only being built, the return is determined for the period that has passed since the signing of the acceptance certificate;
  • during the construction of a house on the purchased land IZhS, the deduction is deducted from the date of issuance of the certificate for the constructed house

Rules of receipt

Rules of receipt

To determine the amount of funds to be returned, it is necessary to consider the following limiting conditions:

  1. The final payment does not exceed 13 percent of the price paid for the transaction.
  2. Every year, the taxpayer can return no more than the amount that was deducted as a personal income tax.
  3. For transactions concluded earlier than 2008, the return limit is limited to 1 million rubles.
  4. For an apartment purchased before 2014, the maximum base for calculating the return is 2 million rubles.
  5. If the borrower has bought an apartment at a later date, the limit is limited to 3 million rubles.
  6. Interest deductions are limited to the maturity term, while the mortgage is with the lender.

It is also important for tax officials that the number of applications is not exceeded minus:

  • until 2014, the deduction can be used only once;
  • later transactions allow deductions an unlimited number of times with a maximum taxable base of 2 million rubles.

How to issue a tax deduction when buying an apartment in the mortgage

How to issue a tax deduction when buying an apartment in the mortgage

In order for the tax deduction to be successful when buying an apartment in a mortgage, you should follow a simple procedure:

  1. Collect the set of documents.
  2. Draw up 3-NDFL for the past reporting period. If the documents are not submitted immediately, you can use your right over the past 3 years (the maximum period corresponding to the statute of limitations).
  3. You need to submit a full package of papers to the Federal Tax Service Inspectorate or arrange through an employing organization.
  4. You can check the status of consideration of the application online – through the personal account of the taxpayer. To do this, you need to register on the FTS website as a user.
  5. On consideration of the appeal about 3 months leave.
  6. Having received approval, the borrower draws up an application with details for which the amounts from the budget will be listed.
  7. Funds are credited within the next 2 weeks.

If the deduction is made through the organization, the payment is realized in the form of a wage supplement. In the future, a similar procedure is carried out for each new tax year, until the limits established by law are exhausted or the credit line is closed.

Waiting time

The process of approving the deduction takes some time, calculated on the basis of the speed of collection of documents and the period of consideration of the application fixed by law. With fast preparation of documentation for the FTS, funds are received within 4 months.

Through the employer, the property deduction under the simplified scheme is obtained faster.

As a rule, certificates from the bank and from the employer are drawn up for no longer than 1 week, and most of the waiting time is spent on checking submitted documents, personal income tax calculations, and references from the employer. The examining inspector pays special attention to the circumstances in which the mortgage acquisition was executed (documents for an apartment, loan agreement, receipts for receipt of funds by the seller, payment documents, etc.).

Sometimes in the review process, the inspector may require additional documents or errors and inconsistencies will be identified. In this case, the inspectorate will inform about the refusal or the need to convey additional documentation. If the taxpayer promptly corrects the documents and clarifies the circumstances, the payment will be successfully agreed.