How to calculate the tax on the sale of the apartment

As stated in section 1 of article 220 of NK of the Russian Federation, we have the right to tax property deduction in the sum received from the sale of the apartment (if you were its owner less than 3 years), but not more than one million rubles. Therefore, if you sell an apartment at a price that exceeds the specified limit, then this excess you will need to pay value added tax at the rate of thirteen percent. Need to know some of the nuances to correctly calculate the tax on the sale of the apartment.

Instruction

Please note that the sale of flats is considered income and, therefore, subject to income tax in thirteen percent, even if you sold it to buy another home. In accordance with the articles of the Tax Code, which came into effect from 01 Jan 2005, the following rules apply charging us tax, as well as any relief for sellers and buyers.

The seller of the property cleaned up is exempted from paying the tax if he owned it not less than three years. In order to receive a tax credit, write a statement to the tax office at the place of residence in a timely manner, and that you may be forced to pay the tax and the fines and penalties, if you are on time do not (deadline: 1 may next year after the transaction).If the seller was the owner of the apartment is less than three years, he must pay income tax in the amount of thirteen percent of the amount received from the sale of the apartmentwhich exceeds one million rubles.

The buyer may not pay income tax on the amount not more than 2,000,000 rubles. That is, buying property for 2,000,000 rubles and more, apply to the tax, and from the above sum will provide you with tax deduction. In humans, this possibility exists only once in life. If the value of the property less than 2000000 rubles, withdrawal charges income tax applies to the size of the spent amount. 500,000 rubles spent, then the deduction will be 500000 rubles and will amount to 65 thousand.

Please contact the Inspectorate of taxes to repay a tax deduction with the appropriate application and submit documents:
- certificate of registration of ownership of housing,
- agreement of purchase andsale; the document proving the payment and the transaction, namely the receipt from the seller of receipt of funds and the act of reception-transmission.

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