Ask a tax advisor on the topic of Real estate taxation

Taxation of a condominium

July 23, 2012 | 35,00 EUR | answered by Wirtschaftsprüfer André Hintz

I want to buy a condominium that I will use myself, financed through a loan. What can I deduct in my income tax return (single, tax class 1)?

Wirtschaftsprüfer André Hintz

Dear inquirer,

I would like to answer your question within the framework of an initial consultation and in consideration of your fee, along with the rules of the online portal. My response pertains to the situation you have presented.

If you are buying a condominium to use it yourself, you generally cannot claim any expenses in your tax return. You can only claim expenses in connection with the intention to generate income.

The only two exceptions may be moving expenses and a home office.

You can only claim moving expenses if your commute between the new apartment and your workplace is significantly shorter.

You can only claim a home office if your employer does not provide you with another workspace.

I hope my explanations have been helpful and remain

Yours sincerely,

André Hintz
Tax advisor