Home ownership, the biggest mistake you can make if you don’t want to be attacked by the taxman

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The purchase or inheritance of a property can lead to very serious problems with the tax authorities from an economic point of view.

The main question in this sense concerns the lack of knowledge of the subject by those who are about to purchase a property and who often ignore the tax issues and the repercussions that may arise subsequently.

Home ownership, the mistake everyone makes (Giustiziagiusta.info)

Sometimes this However, the problem also arises where a parent decides to donate a property to your child, there are very complex quibbles and bureaucracy, especially in Italy, and therefore issues that arise subsequent to the transition.

Home ownership: the mistake not to make with the tax authorities

The most important mistake to consider in this sense it is certainly linked to bonuses. Often properties are purchased with benefits that can be for the first home or for young people and after a certain number of years you choose to proceed with the sale or donate the house as an inheritance. At that point problems arise with the tax authorities because in fact, even if the asset is personal, you are not entirely free to decide what to do with it and how to proceed.

Problems with home ownership related to the tax authorities (Giustiziagiusta.info)

For example for the question of purchasing a house with benefits, not everyone knows that there are precise details to be respected regarding the terms to be followed. This means that it is not always possible for those who have bought a property and have benefited from bonuses and benefits to resell it immediately afterwards. However, many people only find out about it later when they receive it a request from the IRS demanding everything that had not been paidbecause it is subsidized, and which instead is forfeited by selling the house.

Basically you have to pay for the difference was not financially paid before. All this without taking into account that those who have recently benefited from Superbonus and similar and have renovated their home have not been able to resell it immediately and therefore make a profit after the property had been modernized and therefore increased in value. As expected, the works were possible and usable provided that the house was then used by the contractor and not sold to obtain money.

Many people ignore everyone these limits and quibbles and therefore find themselves in serious trouble with the tax authorities after the sale, because what is required by law is due and the contractual terms must be respected. To overcome the problem, before accepting an inheritance or in any case purchasing a property or selling it, check all the documents, any contractual limits or limits linked to the property to avoid unpleasant surprises later.