How to fill out a tax return on a car?
In accordance with the current legislation, car owners are required to pay a tax of 13% of the cost of the vehicle when selling their cars. Therefore, one should not be surprised that after the sale of the car you will receive a “letter of happiness” from the tax with the requirement to pay the reimbursable amount to the budget. In this article, we will tell you how to fill out the declaration on the car and talk about whether it is necessary to pay such taxes when selling cars.
Should I pay a car sales tax?
Cars refer to movable property and when selling them it is necessary to pay the corresponding taxes. However, the current legislation gives certain relief to car owners. There is no need to pay a tax in the following cases:
The car has been owned by the owner for more than 3 years.
The cost of the vehicle is less than 250,000 rubles.
The car was sold at a price below its purchase price. In the latter case, it is necessary to have at hand documents confirming the cost of buying and selling a vehicle.
As you can see, in most cases, car owners fall into the preferential category when selling a vehicle and they do not need to pay a tax. However, this does not relieve them of the need to fill in the relevant documents. Let’s find out how to fill out a vehicle declaration.
When it is required to submit declarations
If you do not know what declaration you need to fill in when selling a car, let’s talk about the requirements of the current legislation. When selling a car, it is necessary to submit the relevant declarations not later than April 30 of the year following the reporting period. That is, if you sold the car in 2017, then you need to file a declaration before April 30, 2018. The amount of tax, if necessary, is transferred to the tax authorities by July 15 of the year of submission of the declaration.
In the event that the form 3 of the NDFL is filed late, taxpayers have fines and penalties. For each day of delay, a penalty of 5% of the total tax is paid. In case if the documents are overdue for half a year or more, the fine may amount to 40% of the total amount of tax for each month of delay. The penalties for untimely payment of taxes are extremely high, so we would not recommend you to delay with the completion of the declaration and payment of taxes.
What will be required to make a declaration
You will need to prepare the next package of documents.
TIN of the vehicle owner.
PTC car sold.
A contract for the purchase of a car if it was owned less than 3 years.
Contract of purchase and sale of a car.
Receipt in receipt of money for the car sold.
We recommend the high quality of the compilation and completeness of such a package of documents, because the tax authorities are required to confirm the data when checking the submitted declarations, and if there are any inaccuracies or errors in the documents, additional data may be requested and the declared declaration will be recognized. invalid. Let’s talk about what sheets of a declaration to fill out when selling a car.
tax return on car
How to fill out a declaration when selling a car
If you are thinking about how to complete the sale of a vehicle, you should note that this work can be done both manually and with the help of a special program that can be downloaded from the tax website, installed on a computer and easily filled out the electronic version of the declaration.
Remember that when reporting in the tax, all actions on the alienation of car ownership must be documented. Therefore, you will need the correct correct information, the account for the sale of the car, as well as other documents that confirm the cost of the purchase and subsequent sale of such a vehicle.
Fill the declaration manually
If you are thinking about how to fill out a declaration when selling a car manually, then note that only 6 pages of the document are required. When doing this work, observe maximum accuracy and care, as errors in completed documents are not allowed. All data indicated in the declaration must be documented.
On the first title page, you must specify the personal data of the person submitting the declaration, his passport details, the registration address and the universal taxpayer’s number.
The second page of the declaration includes data on the amount of profit received from the sale of the car and the calculation of the amount of tax.
The remaining letters of the declaration indicate the amount to be paid to the tax authorities, information about the contracts signed by the traffic police on the purchase and sale of the car, as well as, if necessary, the calculation of the amount of tax minus the property benefits.
When filling in such a declaration manually, when selling a car, you must indicate the appropriate income codes and correction numbers, the information on which you can get directly on the website of the tax inspector