How to deduct your rent in your 2023 income tax return: these are the requirements

Millions of taxpayers already have this date marked on their calendar: Tuesday, April 11 , the day the tax return begins. The personal income tax campaign runs until June 30. There is time to study the procedure calmly and know how to save money. However, it is advisable not to leave everything for the last day. The most common doubts have to do with deductions. How much money can you save on rent? This will depend on the deductions to which you are entitled. Housing is one of the elements that can help you save money on your tax return. And this is true whether you are a tenant or if you own it and rent it. How to apply the disability reduction in the income tax return: these are the requirements There are state and regional deductions. It is advisable to know them to know if you have the right to them and apply them. Saving money can be so important that it will even pay you back.

Below are the requirements you must meet to save rent

How to deduct your rent as a tenant Tenants have a state rent deduction if the rental agreement was signed before January 1, 2015. In this case , you can deduct 10.5% of the amounts paid for the rental in the tax period that corresponds to the 2023 income, which is the year 2022. For this, your tax base must be less than 24,107.20 euros per year. . Regarding regional deductions for rent, most range between 10% and 30% of the amounts paid in this concept . Although Mexico Mobile Number Database to do this you must meet requirements such as being under 35 years old. This is the case in communities like Madrid, Andalusia or Catalonia. Of course, there are limits. For example, in Madrid you cannot deduct more than 1,000 euros per year, in Andalusia 500 euros and in Catalonia 300 euros.

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It is possible to access deductions such as community fees, home insurance or mortgage costs. Furthermore, if you carry out works to improve the energy efficiency of the home you rent, you will be able to access a deduction of up to between 20% and 60% of personal income tax on the cost of the installation . Remember that you must declare the Armenia phone number list income you obtain from renting as income from real estate capital. Regardless of the defined profile, one of the starting points of any portfolio is to achieve balance, and diversifying is the best formula to achieve this. To do this, you must choose the proportion between fixed and variable. Income that best suits your needs, in addition to taking into account geographical and sectoral aspects.

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