Modello 730 precompilato

Notary fee deduction in form 730/2024, instructions, limits and documents to be kept

When buying a house, what are the expenses that can be deducted? Can the notary fees for form 730/2024 be downloaded? Here are the benefits available for the additional charges relating to the signing of the mortgage contract for the first home.
The purchase of the first home is particularly supported by the Italian legislator and for this reason there are various tax breaks connected to this choice.
Of particular importance is the possibility of deducting the expenses incurred for the notary in the 730/2024 form (Income Individuals model for those who make use of this).
The tax advantage includes the professional's fee, the costs of signing a contract, registration and cancellation of the mortgage.
By following the instructions of the Revenue Agency you can have an Irpef reimbursement of 19% of the notary expenses incurred in 2023.
Notary expenses deduction in the 730/2024 form: instructions, limits and documents to keep Notary expenses deduction in the 730/2024 form: instructions Notary fee deduction limits for 2024, which are included and which are excluded? Instructions for completing form 730/2024 for notary expenses Deduction of notary expenses in form 730/2024: documents to be kept and list of additional charges Deduction of notary expenses in form 730/2024: instructions When a contract is stipulated for the purchase and sale of a property, the notary's expenses are the responsibility of the buyer and not the seller.
Naturally, those who pay the expenses can also take advantage of the tax breaks connected to these expenses.
Among the deductions available in the next tax declaration campaign, form 730/2024, which is about to open, there are the notary expenses relating to the purchase of the first house which must therefore be located in the municipality of residence or in which one wishes to establish residence.
In order not to lose the benefit, residence must be established within 18 months of the deed.
The offices of the Revenue Agency check the documents for which the application of the "first home" benefits has been requested to verify the presence of all the requirements and compliance with the conditions established by law.
The deadline for the control is 3 years which must however be calculated from the moment in which the 18 months required to establish residence in the Municipality where the property is located have elapsed.
read also Buying a first home: how to do it, how much do the fees and notary costs cost, what to pay attention to Limits on notary fee deductions for 2024, which are included and which are excluded? When purchasing a house, the maximum eligible expense limit, relating to the cost of the notary, is set at 4,000 euros, while the reimbursement percentage is 19% of the expense actually incurred.
This means that you can obtain cost savings, or reimbursement of notary fees, for a maximum amount of 760 euros.
The instructions of the Revenue Agency specify that the notary expenses are the following: the costs incurred for the stipulation of the mortgage contract; additional charges; the notary's fee (a clarification is needed: however, it is not possible to deduct the entire fee, it is possible to deduct only the amount paid for the deed relating to the mortgage); expenses incurred by the notary on behalf of the client, such as registration and cancellation of the mortgage.
However, expenses incurred for the purchase and sale contract, any pre-financing expenses incurred to obtain the loan, registration, mortgage and land registry tax, VAT, are not deductible.
Furthermore, any expenses incurred for insurance coverage cannot be deducted.
Instructions for completing form 730/2024 for notary expenses In order to benefit from the deduction, the applicant must complete form 730/2024 indicating the notary expenses in Table E, Section I, in line E7, called "Mortgage interest mortgages for the purchase of the main residence”.
In this regard, however, it is necessary to make some clarifications, the Revenue Agency has specified that the limit of 4,000 euros does not refer exclusively to the item relating to notary expenses, but to all the amounts to be reported in Table E, Section I, line 7, comprising various items, including: possible penalty for early repayment of the mortgage; commission due to institutions for intermediation activities; higher sums paid due to exchange rate variations for mortgages stipulated in another currency.
read also Deductions 730/2024: the complete list of expenses that can be downloaded Deduction of notary expenses in the 730/2024 form: documents to keep and list of additional charges As with all expenses that you want to deduct, in this case too it is It is necessary that the traceability of the expenses incurred is ensured.
Consequently, in order to benefit from the 19% deduction, it is essential that the taxpayer keeps the notary's invoice and the documents demonstrating the other deductible expenses.
In this way you will be able to demonstrate to the Revenue Agency that the expense was actually incurred and the extent of the same.
In the previous paragraph we anticipated that the so-called ancillary charges necessary for the stipulation of the mortgage contract are part of the deductible notary expenses.
The deductible additional charges are the following: appraisal costs; investigation costs; the commission requested by credit institutions for their intermediation activity; the commission for discount in installments in cash mortgages; the penalty for early repayment of the mortgage; revaluation quotas dependent on indexation clauses; exchange losses, for mortgages contracted in foreign currencies; the tax for the registration or cancellation of a mortgage; the substitute tax on the capital lent.
read also First home bonus 2024: how does the purchase work? Guide to requirements and benefits

Author: A.W.M.

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