November 10, 2009 at 14:54Common mistakes when filing a tax return and how to avoid them
The following tips apply to personal income tax returns. I summarize what citizens most turn to, but unfortunately after the fact - after the declaration is submitted, the contract is concluded, and the average Russian does not think about the tax consequences. The hustle and bustle begins only after the demand for tax payment arrives.
So, typical mistakes when filing a personal income tax return:
Error 1: a deduction and tax from the sale of an apartment in one year (for example, 2008) and a deduction from the acquisition of a new apartment that was purchased already in the new year (for example , 2009).
What is right: different tax returns are filed, in this case - for sales for 2008, and for purchases for 2009, tax deductions and tax payment amounts are distributed accordingly.
Mistake 2: filing a personal income tax declaration with a deduction from the sale of an apartment (house) that has been owned for more than 3 years (provided in the amount of the cost of the apartment (house)), when in reality the apartment (house) was owned by a person less than 3 years, for example, the apartment was privatized only 2 years ago, or the house was reconstructed, and as a result a new certificate of ownership was obtained.
That's right: the dates of transfer of ownership of the property are checked, since on the filing date of the declaration, usually the money is already diverging and in the case of “unexpected” tax payments, finding money to pay personal income tax becomes problematic.
Mistake 3: filing a personal income tax return stating a tax deduction from the sale of 1/2 an apartment (house) owned less than three years for the full amount of the tax deduction i.e. for 1 million rubles.
What is right: if 1/2 of the apartment (house) is for sale, ½ of the tax deduction is granted - i.e. deduction in the amount of 500 thousand rubles.
Error 4:sale of a house with a land plot owned less than three years in the amount of, for example, 500 thousand for the house and 1 million. for the land (improper distribution of tax payments). Which leads to an increase in the amount of taxes paid.
What is correct: The tax deduction for a house that has been owned for less than three years is 1 million rubles, and the deduction for a land that has been owned for less than three years is 125 thousand rubles, therefore, in the above example, with the total amount of the purchase agreement -sales of land and houses 1.5 million. The distribution should be as follows: 1 million - a house, 500 thousand land, then the amount of personal income tax will be calculated not from 875 thousand rubles, but from 375 thousand.
Reasons for tax disputes:
1. A person has filed a declaration without prior consultation with a tax lawyer, although he himself does not understand anything about taxes and tax relations;
2. A transaction was made, the consequences of which were not calculated by the tax relations.
So, typical mistakes when filing a personal income tax return:
Error 1: a deduction and tax from the sale of an apartment in one year (for example, 2008) and a deduction from the acquisition of a new apartment that was purchased already in the new year (for example , 2009).
What is right: different tax returns are filed, in this case - for sales for 2008, and for purchases for 2009, tax deductions and tax payment amounts are distributed accordingly.
Mistake 2: filing a personal income tax declaration with a deduction from the sale of an apartment (house) that has been owned for more than 3 years (provided in the amount of the cost of the apartment (house)), when in reality the apartment (house) was owned by a person less than 3 years, for example, the apartment was privatized only 2 years ago, or the house was reconstructed, and as a result a new certificate of ownership was obtained.
That's right: the dates of transfer of ownership of the property are checked, since on the filing date of the declaration, usually the money is already diverging and in the case of “unexpected” tax payments, finding money to pay personal income tax becomes problematic.
Mistake 3: filing a personal income tax return stating a tax deduction from the sale of 1/2 an apartment (house) owned less than three years for the full amount of the tax deduction i.e. for 1 million rubles.
What is right: if 1/2 of the apartment (house) is for sale, ½ of the tax deduction is granted - i.e. deduction in the amount of 500 thousand rubles.
Error 4:sale of a house with a land plot owned less than three years in the amount of, for example, 500 thousand for the house and 1 million. for the land (improper distribution of tax payments). Which leads to an increase in the amount of taxes paid.
What is correct: The tax deduction for a house that has been owned for less than three years is 1 million rubles, and the deduction for a land that has been owned for less than three years is 125 thousand rubles, therefore, in the above example, with the total amount of the purchase agreement -sales of land and houses 1.5 million. The distribution should be as follows: 1 million - a house, 500 thousand land, then the amount of personal income tax will be calculated not from 875 thousand rubles, but from 375 thousand.
Reasons for tax disputes:
1. A person has filed a declaration without prior consultation with a tax lawyer, although he himself does not understand anything about taxes and tax relations;
2. A transaction was made, the consequences of which were not calculated by the tax relations.