Tax refund when buying an apartment in 2022 for individuals

2024 Author: James Gerald | [email protected]. Last modified: 2023-12-17 14:00

The state compensates for the expenses of citizens for the purchase of apartments. Part of the amount spent on the transaction is returned through a property tax deduction. Consider how the tax refund will occur when buying an apartment in 2022 for individuals.

Who is eligible for a property deduction

The right to refund the paid tax is possible when purchasing a home. This opportunity is provided only once. To return the money spent when buying an apartment in the form of a property deduction, you need to have certain rights, to comply with some conditions:

• you must be a resident of Russia;
• purchase housing on the territory of the Russian Federation;
• when buying, use your own funds or get a mortgage;
• there must be documents of title for an apartment or an act of acceptance and transfer for new housing.

Russians are returned already paid or accrued income tax. If the newly made owner is not officially employed, does not deduct taxes, he is not granted the right to a property deduction when buying an apartment.

Objects upon purchase of which the tax is refunded

Having acquired a dwelling on a mortgage, having received documents confirming the right of ownership, they draw up a tax deduction. You can return the interest on loans that were received for the purchase of a home.

Having formalized the ownership rights to a share in a residential building, a house or an apartment, having acquired ownership of a land plot for housing construction or registering land under the acquired real estate - this also serves as a reason for filing an application for a refund.

How much interest can be returned

There is a limit on mortgage interest payments - 3 million rubles. The maximum amount that can be returned when buying an apartment is 260 thousand. This is 13% of the 2 million limit. The real amounts spent when buying an apartment are taken into account.

Citizens return part of the money spent on buying a home, with official employment and paying 13% tax to the budget.

How to issue a property tax refund

Since 2021, a simplified form of collection and filing of documents for tax refunds when buying an apartment for individuals has been in effect. You will not need to collect a lot of certificates and supporting documents.

When buying a home in 2021, you can quickly get money - 13% of the amount spent on buying an apartment, just by writing an application and presenting bank details.

Tax refund period when buying an apartment for individuals

When purchasing residential real estate, you need not only to complete the purchase, but also to obtain documents confirming ownership. The object must be officially registered.

Since the money for the purchase of an apartment is returned for the taxes actually paid, one payment may not be enough. If 13% of the amount actually spent on the purchase of housing in the form of tax is not returned at one time, the next year the payment is made again - until the entire due deduction is received.

Simplified application procedure

On the website of public services in your personal account, you need to write a statement for the deduction. The speed of registration depends on the correct filling of all the columns. The application is generated automatically. For payment, you will need to indicate the bank details of your personal account.

The tax office independently processes the applications. Checks all documents of title, personal income tax filed by the employer.

Under the new rules, the verification of documents should not exceed 30 days. Within two weeks after the end of the check, the money will be credited to the applicant's account.

An application for the return of money from the purchase of an apartment can be drawn up at the place of work. In this case, no new tax will be charged on the next earnings. If you apply for a deduction through a multifunctional center or a public services website, the money goes on purpose to the account.

What else you need to know when applying for a deduction

It is not possible to qualify for a deduction for relatives. If a citizen pays for the purchase of an apartment of one of his relatives and there are supporting documents for this, he does not have the right to deduction. The property must be registered in it.

If, when buying a home, the share is drawn up for the child, and the parents pay for it, they have the right to a property deduction. If residential property was acquired in marriage, it is considered property that was acquired jointly, and both spouses have the right to deduction.

A special procedure for processing a refund has been developed for retirees. If a person retired in the same year as he bought the apartment, he has the right to apply for a deduction for previous years. After all, then he paid taxes. Three years after the purchase of the apartment, the rights to receive a refund of part of the tax are lost.

Outcomes

In 2021, individuals will be able to refund tax on the purchase of an apartment under a simplified scheme. You will not need to collect a lot of certificates and supporting documents. 13% of the amount spent on the purchase of an apartment can be received after submitting an application.