The method is used when it is possible to confirm the expenses incurred. Supporting documents may include payment documents, checks and receipts. For this purpose, you need to indicate such expenses in the declaration, attaching supporting documents to it. You can attach copies of them, but the tax office may request the originals at any time – they must be at hand.For example, you decided to sell an apartment received under the renovation program. Then take into account the costs of purchasing the rcs data apartment that was rented out in exchange for the new one. If the minimum period of ownership of residential property has not been reached, then in this case you cannot do without filing a tax return.

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How to reduce sales proceeds by the amount of the tax deduction

Even if you do not have documents confirming the expenses, you can reduce the amount contributed to the state income by means of a tax deduction. Its size will depend on the type of property.

Reduction of income due to expenses of the donor or testator

When receiving property from a close relative as a gift or inheritance, no tax is paid in this case. There are also no expenses for acquiring holzman uitvoerende hoof the property that could be taken into account as a deduction when selling it.

Since 2019, the amount of tax payable can be reduced by expenses incurred by the testator or donor. In this case, personal income tax is calculated not on the total cost of the property sold, but on the difference between the income received and the expenses incurred by the previous owner.

Sales Income by Using Spouse’s Expenses

For example, if the inheritance is a car, it will not be possible to divide it into parts. Then one of the heirs takes the car, and pays the others monetary compensation in the amount of their share. When selling this car, the heir can indicate the compensation paid as part of the expenses incurred, thereby reducing the size of the tax base for himself.

To confirm such payments, you need to get receipts from all heirs and pay their share through the bank. The expenses incurred are indicated brazil data in the declaration, and the receipts are attached as evidence. In order for the division of property not to be contested later, it is better to confirm the fact of compensation with a notary, having agreed on this when drawing up a certificate of inheritance.

You can further reduce the income received from the sale of property through social deductions:

  • for training;
  • repair;
  • treatment;
  • life insurance or other expenses.

A citizen has the right to receive them in the same year. When filing a declaration, all social deductions that you are entitled to must be entered into a common document.

Offsetting property tax deduction against sales tax

When buying an apartment or other housing, every citizen has the right to receive a property deduction, which allows them to return the tax from the budget. It is provided taking into account the cost of the apartment and the interest paid on the mortgage. For this purpose, limits have been set: 2 million rubles and 3 million rubles, respectively. When buying an apartment, you can return up to 260 thousand rubles, and from the interest paid – up to 390 thousand rubles.