Sale of self-used property
April 17, 2019 | 100,00 EUR | answered by Steuerberater Knut Christiansen
I purchased a house with my then partner in February 2017. We are both listed as 50% owners in the land register and have evenly split all costs (including loan agreements). Now that we have separated, we would like to sell the house. The following questions arise. Until recently, we still lived in the property together. Now only he lives there.
1) In our view, the sale of a property that has been privately used for 2 years is tax-free. Is it two years from the purchase (notarized contract) or from moving in? How exactly are these two years calculated?
2) What counts as private use? Did we both have to live there?
3) In the event of a sale with profit (currently very likely), how is the taxable base determined in the worst case scenario? What expenses can we deduct?
Thank you.
Hello and thank you for your inquiry, which I would like to answer as follows in the context of an initial consultation.
1. The sale can be tax-free if the property has been used exclusively for self-occupation since the date of purchase (date of purchase contract), or if self-occupation occurred in the year of sale and in the two years prior.
2. Self-occupation includes having a residence or the possibility of use (e.g. for vacation homes). It is best if you are registered there.
3. Tax is calculated on the difference between the sales price and the purchase price including incidental costs. You can deduct selling costs such as broker commission or prepayment penalty.
I hope this answers your questions, otherwise please feel free to ask for clarification.
Kind regards,
Knut Christiansen
Tax Advisor
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