How to get a tax deduction for IIS
So, you signed a contract with a broker, opened an individual investment account, and deposited money into it. It’s time to make a profit.
Roman Koblenz
private investor
We have to go through three stages: contact the tax office, submit the documents and decide on the discount.
That’s what it’s about.
We are talking about tax benefits and exemptions provided under the program of personal investment accounts. The government wants you to invest more and better, so it creates more favorable investment conditions for you than ordinary brokerage accounts.
IIS is a type of brokerage account and only has special tax deductions.
The IRS provides two IIA deductions: either it deducts your investment from taxable income, or it does not tax your investment income. The first option is the most popular because it adds 13% to your profitability.
To take advantage of state bonuses, you need to consider some nuances – we wrote about it. If you do not understand what it is about, read it first.
Register your account on the tax website
Since the deduction is a tax, you must contact the tax office. This is how it happened to me.
Just in case, I called and asked for my username and password from my cabinet. They told me that I could go to any tax office and take my passport. You also need to know the TIN. If you go to the branch of the Federal Tax Service in your place of residence, then you only need a passport and do not need to know the TIN.
I went to the local branch of the Federal Tax Service, where I got a ticket in an electronic queue. My number appeared almost immediately. Don’t be afraid of the crowd at the Federal Tax Service: even if there are many people, they won’t stand in line. I told the operator at the tax office that I had come to get information for my account, handed over my passport, and three minutes later, I received a sheet with a login and a temporary password for my account on the tax website.
I went home Personal Cabinet login and temporary password. I had to wait about three days before all the information in my account appeared: taxable items, certificates 2- personal income tax, etc.
If you have an account for public services, you can use it to add your account to the tax website. If you do not have a budget for public services, you will need to confirm it in person.
What can be done through a personal account on the tax website
View all your taxable items and the amount of taxes assessed on them.
See all amounts of paid and unpaid taxes. You can pay online.
Get tax returns.
3 Form declarations in NDFL form.
Submit a tax return.
Get an unskilled electronic signature.
The tax return is an official document that you must sign. If you submit the declaration online, it must be signed electronically.
You can also get an electronic signature certificate on the tax website in your account.
You will be asked to enter a password to access the e-signature certificate. This is the main thing to remember.
After that, you can fill out the paperwork for the discount for IIS.
This signature is of poor quality.
Important: The electronic signature obtained on the tax website is not qualified. This is the most straightforward electronic signature. He cannot sign documents other than those on the tax website.
Preparation of documents
To get a discount for IIS, you need to file a 3rd NDFL return with the tax office and a set of documents. Here’s what to collect.
Certificate of income in Form 2 NDFL or other document confirming that you received payment and paid tax at 13% during the tax period when you deposited money in IIS.
We’re not just talking about deductions and investments but also bargaining, living abroad, and ways to protect yourself from thieves.
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I was scanning a brokerage account opening agreement. It is also called a merger agreement.
Approval of funds for IIS. This can be a bank payment order or a broker report on a money transfer.
Statement on tax refund indicating the taxpayer’s bank details.
