Today women’s site sympaty.net will tell you how to receive a tax deduction for tuition. You will learn what documents may require the tax Inspectorate as to reflect the amount in the Declaration for personal income tax and what is their maximum size.
The basic conditions of entitlement to a tax deduction
Education is a necessity, especially if you or your child are planning to build a serious career, achieve professional success.
At the same time, the road to the diploma of fundamental often has financial costs for the family. To at least partially alleviate the situation, the state provides the right to reduce the tax payments of physical persons in the amount spent on their training, their children, and brothers and sisters if they are under 24 years of age.
One of the main conditions for receiving a tax deduction for education is a license or other document confirming the status of the institution as an academic.
Thus, the deduction is not only for the costs of higher education, as is commonly believed, but also to reduce the tax burden by the amount paid for the kids stay in kindergartens, paid services municipal school or private school education, music, sports, driving courses or professional development, learning foreign languages and other.
To what extent it is possible to receive a tax deduction for tuition
The maximum amount that you can deduct for personal income tax are:
- 120 000 rubles at payment of a taxpayer’s own education,
- 50 000 rubles at payment of training of their children.
Note that the cost of private training in calculating taxes and submitting declarations are added to other types of social deductions, which include medical services, the cost of pension insurance, the transfer to the charitable purposes, and cannot exceed 120,000 rubles in the total amount.
To maximize the use of their legal right to a tax reduction, you can split the payments so that in the year they amounted to no more than the maximum allowed by the Tax code of the amount.
Of course, if the conditions concluded with educational institution agreements allow to do it.
The list of required documents
For the receipt and processing of tax deduction for training tax inspection required to submit a number of documents.
The website sympaty.net ready to list them.
- tax return,
- the income statement,
- the contract with educational institution
- when paying school fees of children, wards, siblings require proof of relationship, guardianship or trusteeship, information about full-time education,
- payment documents
- the application for a refund.
The procedure of registration of documents
The first step may be to obtain in the accounting Department at work certificate in form 2-pit. It is necessary to fill the Declaration, which you will specify income received and amounts withheld and remitted to the budget taxes. Help is taken in the year in which you incurred the actual costs and plan to obtain entitlement to a tax deduction for tuition.
Next on the list is a contract with an educational institution, but rather a copy. If the contract States the details of the license, then that’s enough. But if not, then necessary and a copy of it.
When paying school fees of children the law requires to attach a copy of birth certificate (the agreement on guardianship or guardianship), a certificate of full-time education received in high school, if the child is a student.
Such a certificate is not required if the condition specified in the contract.
If you pay for the education of the brother or sister, then to get a legitimate tax deduction for their studies to the Declaration will need documents proving your relationship. These may be copies of birth certificates because they show that you have common parents or one parent.
IMPORTANT! The payment documents confirming the actual costs needs to be designed for you, the taxpayer, not the person receiving the educational services.
If you count in the Declaration for 13% of amounts spent and want to get your tax deduction for tuition money to the account, you will need to complete and submit along with all documents the application for a refund. Examples of applications usually are on the Bulletin boards in the district inspections.
How to file a tax return
The completed Declaration with the application copies of all required documents can be mailed by registered mail with the investment inventory, you can pass through a representative or bring it in person.
If you decided to go to the inspection yourself, don’t forget to bring original documents to show them to a specialist if he has any doubts or questions.
Note that the refund of overpaid tax is made within one month from the date of receipt of the application of taxpayer for obtaining of statutory tax deduction for tuition, but not earlier than the date of completion of the Desk audit. Last do not be afraid. The fact that the inspectors are obliged to check the compliance of the submitted Declaration and applied in confirmation of calculations of the documents.
Now you know how to use their legitimate right to tax deduction for tuition. The requirements of the law the Declaration and the list of documents is not as strict and complicated as it may seem at first.
And we have tried to give simple and clear instructions to action. It remains to wish you good luck!
Author – Hope Budnikova, site ToKnow365.top
How to get a tax deduction for tuition?