If I want to rent my house, how much can I deduct taxes from the Treasury

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If you are renting your home, it is important that you take this into account when filing your income tax return. Today we will answer your questions about how much the Treasury deducts for renting an apartment .


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If I want to rent my house, how do I deduct it from the Income?
If you are renting your house, it is very important that you declare it in your Income Tax, otherwise you could be fined if the Tax Agency decides to carry out an investigation.

When making the declaration, you will have to make a calculation of all the benefits and expenses you have had throughout the year. You will have to make a subtraction and from there you will be able to see what profits you have obtained from the lease, from this figure you will be able to deduct up to 60%. Well, once you have made this calculation, the final result with the deduction is what you will have to add to your tax base with the profits you have obtained from your salary.

How do I mark it in the declaration?
The main thing will be to mark the income you are obtaining in box Chinese Overseas America Number Data of the declaration, you will have to enter the entire income. Later, you can mark the expenses so that they can be deducted:

Repairs for renting my house
In box 0107 you can include "rental maintenance and repair expenses." This does not mean that you can add any type of renovation, only those necessary to make the property habitable such as: fixing the heating, windows, doors or fixing damp.

Furthermore, not only do they have to be necessary repairs, but it must be fixed by a similar item, otherwise it will be considered an improvement. It is important that you keep proof of these repairs so that the Treasury can corroborate the data.




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Property taxes
As the owner of the property, there are a series of taxes that you have to pay, some vary depending on where you live. But, usually they would be:

Garbage rates.
IBI or Real Estate Tax .
Water rates.
Community expenses.
You can include these taxes in expenses in box 0115 of the income. It is important that you mark those that you are paying, if the tenant is responsible for one of these expenses or taxes, you will not be able to include it in the declaration.