How to return the money for the mortgage

Mortgage – a loan secured by the purchased real estate. Once in a lifetime, you can return the 13 % (income tax) of the cost of purchased residential house or apartment, and if the property purchased with a mortgage, it is possible to return 13% and paid by the Bank interest for use of loan funds.

Instruction

1. Remember that the legislation provides a tax deduction for the purchase of housing. You can use it only once in a lifetime. The maximum amount you can get, - 260 thousand rubles., ie, 13 % of 2 million. Over the amount of tax deduction is not provided. However, interest paid to the Bank, such restrictions do not exist. You can recover income tax on any amount of interest paid.
2. In order to return the money when buying a home, contact the tax office at the place of residence. You will need to collect a package of documents, including:
   
   - passport;
   - certificate of ownership of the purchased housing;
   - agreement of purchase and sale;
   - the loan agreement or mortgage agreement;
   - Bank statements calculation paid for the tax period (year) interest;
   - receipts, receipts for payment of loan;
   - certificate of employment about the withheld income tax.
3. Based on the foregoing documents fill in the Declaration form 3-pit. In addition, you'll need to apply for a tax deduction, and specify the Bank account number to transfer funds.
4. Be prepared for the fact that to explore your documents will be within 3 months, such term is provided by law. You can refuse the refund of paid income tax in several cases:
   
   - if the apartment was purchased at the expense of the employer or the budget of any level;
   - if the transaction was concluded between close relatives;
   - if the fictitious transaction of purchase and sale.
5. Don't forget that you will have to apply for income tax refund every year until you make the repayment of the loan and until you pay back 13% of the cost of purchased housing. Fill in a tax return required at the end of tax period, i.e. in the beginning of next year.