Features accompanying real estate sales tax

A person owning real estate - an apartment, a country house or a cottage for three years or less, must pay a tax on the sale of real estate . It will be equal to 13 percent of the amount, which is more than 1 million rubles. Given that real estate in the country is expensive, then the tax, respectively, will not be small. I draw attention to the fact that the amount of tax is calculated from the amount of net profit. Net profit is the amount that makes up the difference between the purchase price and its sale value in the future.

Every person engaged in buying and selling an apartment should be ready to collect documents, then, through a real estate office, advertise it, and in case there is a buyer, show. Many, including some realtors, think that the tax on the sale of real estate is limited to 13 percent. In reality, taxation is a multifaceted concept.

Having carefully read 224 articles of the Tax Code of the Russian Federation, we learn that the tax rate is really equal to 13 percent, but there are additions to it. The fact is that the article says if a person is not a resident of the Russian Federation, he must pay a tax on the sale of real estate 30 percent of the difference between buying and selling an apartment. The question of citizenship in this situation is not relevant. The main thing is that the person subject to tax deductions, during the year was at least six months in Russia. Hence, the conclusion is this: when selling real estate, while staying more than 183 days abroad, an individual will not be considered a resident, which means that the tax on the sale of real estate will be equal to 30%.

Being a tax resident of the Russian Federation, and possessing real estate for more than three years, an individual is not subject to taxation. If the period of possession is less than three years, then in each individual case, the rate is reduced by the amount of deductible taxes. In this case, the amount of the tax rate will not exceed 1 million rubles.

For example, owning an apartment for a year and a half, selling it for one million eight hundred thousand rubles, only 800,000 rubles will be taxable.

If the transaction is carried out by legal entities, then taxes will be levied on profits and on value added. 20% and 10%, respectively.

Previous, like new real estate taxes provide the following situation. If the housing is in shared use, then the net profit should be divided by the number of owners. And then each owner contributes 13 percent of the tax.

Example: two individuals purchased an apartment for nine hundred thousand rubles, after 12 months they sold it for two and a half million. Given that the price of buying a home was less than one million, you can use the incentive related to buying an apartment worth less than a million. It turns out that this is the case: from two and a half million we take one, divide it by the number of owners, that is, by two and multiply by 13 percent. It turns out the amount of 97.5 thousand rubles, which will represent a tax on the sale of real estate for each owner.

Selling an apartment still under construction, the scheme for paying taxes is the same as for housing in the secondary market.

What documents should be submitted to the tax authority:

• Document on the contract and purchase of real estate;
• A certificate certifying that the apartment or other real estate is owned for three years or more;
• Document (usually a receipt), certifying that the funds have been received in full;
• Declaration of income, compiled in duplicate.

Paying tax on the sale of real estate every year, without waiting for the deadline for filing an income statement. You will be notified by federal authorities. As mentioned above, if tax evasion does not take place , the offender will be penalized. The penalty is quite large, and can be 20% of the tax contribution.