Skills and tasks of cross-functional teams
Posted: Tue Feb 11, 2025 9:06 am
They indicate the amount of expenses incurred by the parents, since the children themselves did not have any expenses. A copy of a document proving kinship with the child - a birth or adoption certificate - is attached to such a declaration. The specified part of the parents' expenses is not taken into account when filing their own declarations. If the purchase expenses were fully indicated when the parents filed the declaration, then a tax deduction can be applied to the children's declarations in an amount proportional to the allocated shares. Those who know about this opportunity can save significantly or avoid paying taxes altogether. A certificate of the amount of expenses for the entire period of mortgage repayment can be ordered from the bank.
At the same time, the costs incurred for the renovation viber database of the apartment cannot be included in the expenses upon sale. They are attributed exclusively to the costs of acquiring the property, due to which it is possible to increase the amount of tax subject to refund. Accounting for monetary compensation to other heirs in expenses When dividing an inheritance between several heirs, they can come to an agreement that someone will take their share in monetary equivalent. 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 he 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 incurred expenses, 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 incurred expenses are indicated in the declaration, and the receipts are attached as evidence. To prevent the division of property from being challenged later, it is better to confirm the fact of compensation with a notary, having agreed on this when drawing up a certificate of inheritance. Using other deductions in the same year You can further reduce the income received from the sale of property through social deductions: for education; repairs; 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 the general document.
At the same time, the costs incurred for the renovation viber database of the apartment cannot be included in the expenses upon sale. They are attributed exclusively to the costs of acquiring the property, due to which it is possible to increase the amount of tax subject to refund. Accounting for monetary compensation to other heirs in expenses When dividing an inheritance between several heirs, they can come to an agreement that someone will take their share in monetary equivalent. 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 he 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 incurred expenses, 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 incurred expenses are indicated in the declaration, and the receipts are attached as evidence. To prevent the division of property from being challenged later, it is better to confirm the fact of compensation with a notary, having agreed on this when drawing up a certificate of inheritance. Using other deductions in the same year You can further reduce the income received from the sale of property through social deductions: for education; repairs; 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 the general document.