The taxpayer can use one of two proposed schemes:
receive a standard property tax deduction for income amounts up to 250,000 ₽;
Reduce the amount of income by confirming the purchase costs.
In the first case, you can get back 13% of the part of the cost of the car from the tax amount upon sale. The maximum amount from which you can make a property deduction is 250,000 ₽. This means that the maximum you can get back is no more than 32,500 ₽ (13% of 250,000 ₽). However, you cannot apply the benefit to an amount that exceeds the personal income tax paid for the year.
The second option is to reduce the tax by deducting the initial gansu mobile number database cost of the car from your income. If you sell the car for less than you spent on the purchase, you don’t have to pay tax at all. If the sale price is higher, the taxable base is significantly reduced.
It is impossible to use both options - first reduce the taxable base due to the purchase price, and then make a deduction from 250,000 ₽. Therefore, in each case, you need to choose the most advantageous tactics. To clearly demonstrate the choice depending on the situation, we will look at three examples.
Elena bought a used car for 330,000 ₽ and sold it for 290,000 ₽
Vadim bought a new car for 1,200,000 ₽, but soon decided to sell it profitably for 1,700,000 ₽
Ivan received a new car as a gift from his father, and two years later he decided to sell it. The initial price for the car was 2,350,000 ₽, and the sale amount was 2,530,000 ₽
Solution
Since expenses exceed income, the second scheme should be used - deduct expenses from the taxable base
If you make a tax deduction of 250,000 ₽, then the taxable base will be 1,450,000 ₽, and with compensation of expenses - 500,000 ₽. The second option is more profitable
Since Ivan did not make a purchase, there were no costs on his part, the only available way is to make a tax deduction in the amount of 250,000 ₽
Summary
To reduce the taxable base due to the costs of purchasing a car, you need to provide supporting documents. For this reason, it is very important to keep the purchase and sale agreement, payment receipts and the loan agreement.
How to make a property deduction
The tax credit claim must be made when filing your tax return. It must be filed by April 30 of the tax year following the year of sale. And the tax must be paid by July 15. For example, if you sell a car in 2024, the tax return must be filed by April 30, 2025, and the tax must be paid by July 15, 2025.
There are five ways to submit a declaration:
on State Services;
on the FTS website;
during a personal visit to the Federal Tax Service office;
in the MFC;
by mail to the address of the Federal Tax Service branch.
If the price of the car is less than 250,000 ₽, there is no need to file a declaration, since such transactions are not subject to tax.
To take advantage of the standard benefit of up to 250,000 ₽, you must submit the following documents to the Federal Tax Service:
a tax return completed using form 3-NDFL (a sample can be downloaded from State Services or from the FTS website);
documents confirming the fact of sale and receipt of income (for example, a sales contract).
If you want to reduce the taxable base due to the costs of purchasing a car, you need to confirm these costs with documents. This can be done with the help of an old purchase and sale agreement, receipts, a loan agreement.