Is it possible to get a property tax deduction if the apartment is only built or repaired

A housinglast issue is one of the most difficult for Russians. To solve it, many take money secured by an apartment, sell liquid property, etc. D.

One of the most common and relatively simple ways to purchase an apartment is to participate in shared construction. Firstly, the cost of housing at the stage of laying the foundation is always lower, and secondly, such a method allows you to choose any object you like, to independently participate in the creation of its layout and decoration.

But this method has its cons. First of all, these include the high riskiness of such events. No one can guarantee that the construction will be completed in the agreed time, that it will not be “frozen”, which will not arise in the future problems with documents, etc. D. In addition, it should be understood that when buying an apartment by participating in shared construction, problems may arise with obtaining a property tax deduction.

Rather, after receiving a certificate of state registration of ownership, the right of this will certainly arise. In this case, the buyer has the right to count on the personal income tax deduction in the amount not only spent on the purchase of housing, but also for the amount of interest paid for the loan secured by real estate.

But this is all then, after. If a citizen is a shareholder, such an opportunity appears exclusively after the act of transferring the apartment to him. This, for example, is stated in a letter from the Ministry of Finance of Russia from 23.06.2005 N 03-05-01-056).

In order to confirm his right to property deduction, the buyer of real estate in the house under construction must provide the following documents to the tax:

— contract of sale;

— an act on the transfer of an apartment or another document confirming the ownership of the applicant;

— a document confirming the expenses actually incurred by him for the acquisition and decoration of housing;

— other documents, the need to provide which is provided for by the current Russian legislation.

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