What documents do I need for the tax deduction of my property?
November 14, 2023 | 40,00 EUR | answered by Tatiana Seiler
Dear tax consultant,
I am Alice Schäfer and have owned a property that I rent out for several years. So far, I have not taken advantage of the tax depreciation, as I am unsure about the necessary documents and the exact procedure. I have read a lot about the depreciation of properties, but I still lack the necessary knowledge to implement this independently.
Currently, I am concerned that I may be missing out on tax benefits or even making incorrect statements that could lead to a tax bill. Therefore, I would like to get in touch with you to clarify which documents are exactly required to correctly carry out the tax depreciation of my property.
Furthermore, I would like to know if there are specific deadlines or requirements that I need to consider in order to benefit from the depreciation. Since I have not delved deeply into the topic so far, I am unsure if I have considered all aspects and if I may need to take further steps.
Could you please explain to me in detail which documents I need for the tax depreciation of my property and what the exact procedure is? Are there specific forms that need to be filled out, or specific information that needs to be provided?
Thank you in advance for your support and I look forward to hearing from you.
Sincerely,
Alice Schäfer
Dear Mrs. Schäfer,
Thank you for your inquiry regarding the tax depreciation of your rental property. I am happy to assist you with my expertise to help you with this topic.
First of all, it is important to know that the tax depreciation of properties is also referred to as "AfA" (depreciation). This depreciation allows you to deduct the acquisition or production costs of your property over a certain period of time for tax purposes. In order to correctly carry out the tax depreciation of your property, you usually need the following documents:
1. Purchase contract or cost receipts: These are the purchase contract or cost receipts documenting the acquisition or production costs of your property.
2. Floor plans and building description: These documents are important to understand the exact construction and furnishing dimensions of your property.
3. Depreciation start date: The date from which you rented out the property and can begin the tax depreciation.
4. Rental agreement: The rental agreement serves as proof of the rental of your property and should also be submitted.
To carry out the tax depreciation, you usually need to fill out an Annex V to the income tax return. In this annex, you enter the relevant data of your rented property and claim the depreciation. It is important that all information is correct and complete to avoid potential errors or additional payments.
There are no specific deadlines that you need to adhere to in order to benefit from the depreciation. You can start the tax depreciation in the year in which you rented out the property. However, it is advisable to include the depreciation in your tax return every year to fully utilize the tax benefits.
I hope this information helps you and answers your questions. If you need further assistance or have any more questions, please feel free to contact me.
Best regards,
Tatiana Seiler
Tax Advisor
