Private sale of a condominium
February 9, 2018 | 45,00 EUR | answered by StB Patrick Färber
I am an employee and file a tax return annually. I own 2 condominiums in HH, one of which I live in myself, the second one in HH was purchased in February 2015 and my parents lived there rent-free with a lifelong right of residence. My parents cover the expenses/costs incurred. I sold my parents' apartment in June 2017 and bought another one in SH in July 2017, which my parents again live in rent-free with a lifelong right of residence like in HH. I do not declare this apartment for tax purposes, just like my parents.
My question: Do I have to pay taxes on the capital gain from the sale, if yes, will I be asked to do so or do I have to take action myself, and where do I enter the surplus, do I include copies of the purchase agreement, notary, etc.?
I also received €2,100.00 for a short-term job. Do I have to declare this amount, and where do I enter it?
Thank you.
Dear inquirer,
Based on your information, I conclude that the sale of the apartment is subject to income tax as a private sale transaction.
The so-called speculation tax does not apply if you had used the apartment exclusively for your own residential purposes. Providing the apartment free of charge to relatives (except children) does not fall under the category of "own residential purposes."
Taxable is the difference between the selling price and the acquisition costs, to be entered in the attachment SO in lines No. 31 to 40. Do not include copies, etc. for now, only upon request.
In this case, you must submit a tax return yourself.
I would enter the EUR 2,100.00 in the attachment S (if self-employed) or attachment G (if commercial) and potentially deduct costs against it. It would be advisable to provide a small breakdown, for example in Excel, to the tax office, possibly with a brief explanation.
Best regards,
Tax advisor Färber
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