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Amended Us Tax Form 1040x

I Had Received Disability Can I File Income Tax Can I How Much Can I Money For Refurn2012 Tax ReturnsHow Do I File My 2011 Taxes NowFile Tax ReturnFree Taxes H&r Block1040 Form FreeFile An Amended ReturnHappens If I Didn't File Taxes Last YearAmend 2011 Federal Return1040 Ez 2010 FormIrs 1040 Ez FormFiling 2009 Taxes In 2013Www Turbotax ComFile 2010 Taxes Free OnlineFreestatetaxesAmended ReturnsE File 2012 ReturnsIrs Extension FormWhen Can You File TaxesFederal Tax Form 941 2012H And R Block Free StateTax For Self EmployedFile Taxes OnlineHow Do I File My 2010 Tax ReturnWhere Can I File 2009 Taxes Online For FreeTax Slayer 20111040 Ez FreeAmending A Tax Return Online2011 Free Tax SoftwareCan I Amend My 2010 Tax ReturnFree Federal Tax E Filing2013 Ez Tax FormsHow Do I Refile My TaxesTurbotax 1040x FormEfile State Income TaxCan I Efile My 2011 TaxesFile Taxes OnlineFree Federal Tax Filing 2011Amended Form 1040x1040x 2011

Amended Us Tax Form 1040x

Amended us tax form 1040x 10. Amended us tax form 1040x   Employees of Foreign Governments and International Organizations Table of Contents Exemption Under Tax Treaty Exemption Under U. Amended us tax form 1040x S. Amended us tax form 1040x Tax LawCertification. Amended us tax form 1040x Employees of foreign governments (including foreign municipalities) have two ways to get exemption of their governmental wages from U. Amended us tax form 1040x S. Amended us tax form 1040x income tax: By a provision in a tax treaty or consular convention between the United States and their country, or By meeting the requirements of U. Amended us tax form 1040x S. Amended us tax form 1040x tax law. Amended us tax form 1040x Employees of international organizations can exempt their wages either by a provision, if one exists, in the international agreement creating the international organization, or by meeting the requirements of U. Amended us tax form 1040x S. Amended us tax form 1040x tax law. Amended us tax form 1040x The exemption discussed in this chapter applies only to pay received for services performed for a foreign government or international organization. Amended us tax form 1040x Other U. Amended us tax form 1040x S. Amended us tax form 1040x income received by persons who qualify for this exemption may be fully taxable or given favorable treatment under an applicable tax treaty provision. Amended us tax form 1040x The proper treatment of this kind of income (interest, dividends, etc. Amended us tax form 1040x ) is discussed earlier in this publication. Amended us tax form 1040x Exemption Under Tax Treaty If you are from a country that has a tax treaty with the United States, you should first look at the treaty to see if there is a provision that exempts your income. Amended us tax form 1040x The income of U. Amended us tax form 1040x S. Amended us tax form 1040x citizens and resident aliens working for foreign governments usually is not exempt. Amended us tax form 1040x However, in a few instances, the income of a U. Amended us tax form 1040x S. Amended us tax form 1040x citizen with dual citizenship may qualify. Amended us tax form 1040x Often the exemption is limited to the income of persons who also are nationals of the foreign country involved. Amended us tax form 1040x Exemption Under U. Amended us tax form 1040x S. Amended us tax form 1040x Tax Law Employees of foreign governments who do not qualify under a tax treaty provision and employees of international organizations may qualify for exemption by meeting the following requirements of U. Amended us tax form 1040x S. Amended us tax form 1040x tax law. Amended us tax form 1040x The exemption under U. Amended us tax form 1040x S. Amended us tax form 1040x tax law applies only to current employees and not to former employees. Amended us tax form 1040x Pensions received by former employees living in the United States do not qualify for the exemption discussed here. Amended us tax form 1040x Employees of foreign governments. Amended us tax form 1040x   If you are not a U. Amended us tax form 1040x S. Amended us tax form 1040x citizen, or if you are a U. Amended us tax form 1040x S. Amended us tax form 1040x citizen but also a citizen of the Philippines, and you work for a foreign government in the United States, your foreign government salary is exempt from U. Amended us tax form 1040x S. Amended us tax form 1040x tax if you perform services similar to those performed by U. Amended us tax form 1040x S. Amended us tax form 1040x government employees in that foreign country and that foreign government grants an equivalent exemption to U. Amended us tax form 1040x S. Amended us tax form 1040x government employees. Amended us tax form 1040x Certification. Amended us tax form 1040x   To qualify for the exemption under U. Amended us tax form 1040x S. Amended us tax form 1040x tax law, either the Department of State must certify that you perform services similar to those performed by employees of the government of the United States in foreign countries and that your foreign government employer grants an equivalent exemption to U. Amended us tax form 1040x S. Amended us tax form 1040x government employees performing similar services in its country or you must establish those facts. Amended us tax form 1040x However, see Aliens who keep immigrant status , later, for a special rule that may affect your qualifying for this exemption. Amended us tax form 1040x Employees of international organizations. Amended us tax form 1040x   If you work for an international organization in the United States and you are not a U. Amended us tax form 1040x S. Amended us tax form 1040x citizen (or you are a U. Amended us tax form 1040x S. Amended us tax form 1040x citizen but are also a citizen of the Philippines), your salary from that organization is exempt from U. Amended us tax form 1040x S. Amended us tax form 1040x tax. Amended us tax form 1040x However, see Aliens who keep immigrant status , later, for a special rule that may affect your qualifying for this exemption. Amended us tax form 1040x   An international organization is an organization designated by the President of the United States through Executive Order to qualify for the privileges, exemptions, and immunities provided in the International Organizations Immunities Act. Amended us tax form 1040x   You should find out if you have been made known to, and have been accepted by, the Secretary of State as an officer or an employee of that organization, or if you have been designated by the Secretary of State, before formal notification and acceptance, as a prospective officer or employee. Amended us tax form 1040x   If you are claiming exemption, you should know the number of the Executive Order covering the international organization and should have some written evidence of your acceptance or designation by the Secretary of State. Amended us tax form 1040x   The exemption is denied when, because the Secretary of State determines your presence in the United States is no longer desirable, you leave the United States (or after a reasonable time allowed for leaving the United States). Amended us tax form 1040x The exemption is also denied when a foreign country does not allow similar exemptions to U. Amended us tax form 1040x S. Amended us tax form 1040x citizens. Amended us tax form 1040x Then the Secretary of State can withdraw the privileges, exemptions, and immunities from the nationals of that foreign country. Amended us tax form 1040x Aliens who keep immigrant status. Amended us tax form 1040x   If you file the waiver provided by section 247(b) of the Immigration and Nationality Act (USCIS Form I-508) to keep your immigrant status (green card), you no longer qualify for the exemption from U. Amended us tax form 1040x S. Amended us tax form 1040x tax under U. Amended us tax form 1040x S. Amended us tax form 1040x tax law from the date of filing the waiver with the Attorney General. Amended us tax form 1040x   However, you do not lose the exemption if you file the waiver, and meet either of the following conditions. Amended us tax form 1040x You are exempt from U. Amended us tax form 1040x S. Amended us tax form 1040x tax under an income tax treaty, consular agreement, or international agreement between the United States and your foreign government employer. Amended us tax form 1040x You work for an international organization and the international organization agreement creating the international organization provides that alien employees are exempt from U. Amended us tax form 1040x S. Amended us tax form 1040x income tax. Amended us tax form 1040x Two international organizations that have such a provision are the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (World Bank). Amended us tax form 1040x . Amended us tax form 1040x   For more information about a specific foreign country or international organization, send an email to embassy@irs. Amended us tax form 1040x gov. Amended us tax form 1040x Prev  Up  Next   Home   More Online Publications
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The Amended Us Tax Form 1040x

Amended us tax form 1040x 5. Amended us tax form 1040x   Personal Use of Dwelling Unit (Including Vacation Home) Table of Contents Dividing Expenses Dwelling Unit Used as a HomeMain home. Amended us tax form 1040x Shared equity financing agreement. Amended us tax form 1040x Donation of use of the property. Amended us tax form 1040x Examples. Amended us tax form 1040x Days used for repairs and maintenance. Amended us tax form 1040x Days used as a main home before or after renting. Amended us tax form 1040x Reporting Income and DeductionsNot used as a home. Amended us tax form 1040x Used as a home but rented less than 15 days. Amended us tax form 1040x Used as a home and rented 15 days or more. Amended us tax form 1040x If you have any personal use of a dwelling unit (including a vacation home) that you rent, you must divide your expenses between rental use and personal use. Amended us tax form 1040x In general, your rental expenses will be no more than your total expenses multiplied by a fraction; the denominator of which is the total number of days the dwelling unit is used and the numerator of which is the total number of days actually rented at a fair rental price. Amended us tax form 1040x Only your rental expenses may deducted on Schedule E (Form 1040). Amended us tax form 1040x Some of your personal expenses may be deductible if you itemize your deductions on Schedule A (Form 1040). Amended us tax form 1040x You must also determine if the dwelling unit is considered a home. Amended us tax form 1040x The amount of rental expenses that you can deduct may be limited if the dwelling unit is considered a home. Amended us tax form 1040x Whether a dwelling unit is considered a home depends on how many days during the year are considered to be days of personal use. Amended us tax form 1040x There is a special rule if you used the dwelling unit as a home and you rented it for less than 15 days during the year. Amended us tax form 1040x Dwelling unit. Amended us tax form 1040x   A dwelling unit includes a house, apartment, condominium, mobile home, boat, vacation home, or similar property. Amended us tax form 1040x It also includes all structures or other property belonging to the dwelling unit. Amended us tax form 1040x A dwelling unit has basic living accommodations, such as sleeping space, a toilet, and cooking facilities. Amended us tax form 1040x   A dwelling unit does not include property (or part of the property) used solely as a hotel, motel, inn, or similar establishment. Amended us tax form 1040x Property is used solely as a hotel, motel, inn, or similar establishment if it is regularly available for occupancy by paying customers and is not used by an owner as a home during the year. Amended us tax form 1040x Example. Amended us tax form 1040x You rent a room in your home that is always available for short-term occupancy by paying customers. Amended us tax form 1040x You do not use the room yourself and you allow only paying customers to use the room. Amended us tax form 1040x This room is used solely as a hotel, motel, inn, or similar establishment and is not a dwelling unit. Amended us tax form 1040x Dividing Expenses If you use a dwelling unit for both rental and personal purposes, divide your expenses between the rental use and the personal use based on the number of days used for each purpose. Amended us tax form 1040x When dividing your expenses, follow these rules. Amended us tax form 1040x Any day that the unit is rented at a fair rental price is a day of rental use even if you used the unit for personal purposes that day. Amended us tax form 1040x (This rule does not apply when determining whether you used the unit as a home. Amended us tax form 1040x ) Any day that the unit is available for rent but not actually rented is not a day of rental use. Amended us tax form 1040x Fair rental price. Amended us tax form 1040x   A fair rental price for your property generally is the amount of rent that a person who is not related to you would be willing to pay. Amended us tax form 1040x The rent you charge is not a fair rental price if it is substantially less than the rents charged for other properties that are similar to your property in your area. Amended us tax form 1040x   Ask yourself the following questions when comparing another property with yours. Amended us tax form 1040x Is it used for the same purpose? Is it approximately the same size? Is it in approximately the same condition? Does it have similar furnishings? Is it in a similar location? If any of the answers are no, the properties probably are not similar. Amended us tax form 1040x Example. Amended us tax form 1040x Your beach cottage was available for rent from June 1 through August 31 (92 days). Amended us tax form 1040x Except for the first week in August (7 days), when you were unable to find a renter, you rented the cottage at a fair rental price during that time. Amended us tax form 1040x The person who rented the cottage for July allowed you to use it over the weekend (2 days) without any reduction in or refund of rent. Amended us tax form 1040x Your family also used the cottage during the last 2 weeks of May (14 days). Amended us tax form 1040x The cottage was not used at all before May 17 or after August 31. Amended us tax form 1040x You figure the part of the cottage expenses to treat as rental expenses as follows. Amended us tax form 1040x The cottage was used for rental a total of 85 days (92 − 7). Amended us tax form 1040x The days it was available for rent but not rented (7 days) are not days of rental use. Amended us tax form 1040x The July weekend (2 days) you used it is rental use because you received a fair rental price for the weekend. Amended us tax form 1040x You used the cottage for personal purposes for 14 days (the last 2 weeks in May). Amended us tax form 1040x The total use of the cottage was 99 days (14 days personal use + 85 days rental use). Amended us tax form 1040x Your rental expenses are 85/99 (86%) of the cottage expenses. Amended us tax form 1040x Note. Amended us tax form 1040x When determining whether you used the cottage as a home, the July weekend (2 days) you used it is considered personal use even though you received a fair rental price for the weekend. Amended us tax form 1040x Therefore, you had 16 days of personal use and 83 days of rental use for this purpose. Amended us tax form 1040x Because you used the cottage for personal purposes more than 14 days and more than 10% of the days of rental use (8 days), you used it as a home. Amended us tax form 1040x If you have a net loss, you may not be able to deduct all of the rental expenses. Amended us tax form 1040x See Dwelling Unit Used as a Home, next. Amended us tax form 1040x Dwelling Unit Used as a Home If you use a dwelling unit for both rental and personal purposes, the tax treatment of the rental expenses you figured earlier under Dividing Expenses and rental income depends on whether you are considered to be using the dwelling unit as a home. Amended us tax form 1040x You use a dwelling unit as a home during the tax year if you use it for personal purposes more than the greater of: 14 days, or 10% of the total days it is rented to others at a fair rental price. Amended us tax form 1040x See What is a day of personal use , later. Amended us tax form 1040x If a dwelling unit is used for personal purposes on a day it is rented at a fair rental price (discussed earlier), do not count that day as a day of rental use in applying (2) above. Amended us tax form 1040x Instead, count it as a day of personal use in applying both (1) and (2) above. Amended us tax form 1040x What is a day of personal use?   A day of personal use of a dwelling unit is any day that the unit is used by any of the following persons. Amended us tax form 1040x You or any other person who owns an interest in it, unless you rent it to another owner as his or her main home under a shared equity financing agreement (defined later). Amended us tax form 1040x However, see Days used as a main home before or after renting , later. Amended us tax form 1040x A member of your family or a member of the family of any other person who owns an interest in it, unless the family member uses the dwelling unit as his or her main home and pays a fair rental price. Amended us tax form 1040x Family includes only your spouse, brothers and sisters, half-brothers and half-sisters, ancestors (parents, grandparents, etc. Amended us tax form 1040x ), and lineal descendants (children, grandchildren, etc. Amended us tax form 1040x ). Amended us tax form 1040x Anyone under an arrangement that lets you use some other dwelling unit. Amended us tax form 1040x Anyone at less than a fair rental price. Amended us tax form 1040x Main home. Amended us tax form 1040x   If the other person or member of the family in (1) or (2) above has more than one home, his or her main home is ordinarily the one he or she lived in most of the time. Amended us tax form 1040x Shared equity financing agreement. Amended us tax form 1040x   This is an agreement under which two or more persons acquire undivided interests for more than 50 years in an entire dwelling unit, including the land, and one or more of the co-owners is entitled to occupy the unit as his or her main home upon payment of rent to the other co-owner or owners. Amended us tax form 1040x Donation of use of the property. Amended us tax form 1040x   You use a dwelling unit for personal purposes if: You donate the use of the unit to a charitable organization, The organization sells the use of the unit at a fund-raising event, and The “purchaser” uses the unit. Amended us tax form 1040x Examples. Amended us tax form 1040x   The following examples show how to determine if you have days of personal use. Amended us tax form 1040x Example 1. Amended us tax form 1040x You and your neighbor are co-owners of a condominium at the beach. Amended us tax form 1040x Last year, you rented the unit to vacationers whenever possible. Amended us tax form 1040x The unit was not used as a main home by anyone. Amended us tax form 1040x Your neighbor used the unit for 2 weeks last year; you did not use it at all. Amended us tax form 1040x Because your neighbor has an interest in the unit, both of you are considered to have used the unit for personal purposes during those 2 weeks. Amended us tax form 1040x Example 2. Amended us tax form 1040x You and your neighbors are co-owners of a house under a shared equity financing agreement. Amended us tax form 1040x Your neighbors live in the house and pay you a fair rental price. Amended us tax form 1040x Even though your neighbors have an interest in the house, the days your neighbors live there are not counted as days of personal use by you. Amended us tax form 1040x This is because your neighbors rent the house as their main home under a shared equity financing agreement. Amended us tax form 1040x Example 3. Amended us tax form 1040x You own a rental property that you rent to your son. Amended us tax form 1040x Your son does not own any interest in this property. Amended us tax form 1040x He uses it as his main home and pays you a fair rental price. Amended us tax form 1040x Your son's use of the property is not personal use by you because your son is using it as his main home, he owns no interest in the property, and he is paying you a fair rental price. Amended us tax form 1040x Example 4. Amended us tax form 1040x You rent your beach house to Rosa. Amended us tax form 1040x Rosa rents her cabin in the mountains to you. Amended us tax form 1040x You each pay a fair rental price. Amended us tax form 1040x You are using your beach house for personal purposes on the days that Rosa uses it because your house is used by Rosa under an arrangement that allows you to use her cabin. Amended us tax form 1040x Example 5. Amended us tax form 1040x You rent an apartment to your mother at less than a fair rental price. Amended us tax form 1040x You are using the apartment for personal purposes on the days that your mother rents it because you rent it for less than a fair rental price. Amended us tax form 1040x Days used for repairs and maintenance. Amended us tax form 1040x   Any day that you spend working substantially full time repairing and maintaining (not improving) your property is not counted as a day of personal use. Amended us tax form 1040x Do not count such a day as a day of personal use even if family members use the property for recreational purposes on the same day. Amended us tax form 1040x Example. Amended us tax form 1040x Corey owns a cabin in the mountains that he rents for most of the year. Amended us tax form 1040x He spends a week at the cabin with family members. Amended us tax form 1040x Corey works on maintenance of the cabin 3 or 4 hours each day during the week and spends the rest of the time fishing, hiking, and relaxing. Amended us tax form 1040x Corey's family members, however, work substantially full time on the cabin each day during the week. Amended us tax form 1040x The main purpose of being at the cabin that week is to do maintenance work. Amended us tax form 1040x Therefore, the use of the cabin during the week by Corey and his family will not be considered personal use by Corey. Amended us tax form 1040x Days used as a main home before or after renting. Amended us tax form 1040x   For purposes of determining whether a dwelling unit was used as a home, you may not have to count days you used the property as your main home before or after renting it or offering it for rent as days of personal use. Amended us tax form 1040x Do not count them as days of personal use if: You rented or tried to rent the property for 12 or more consecutive months. Amended us tax form 1040x You rented or tried to rent the property for a period of less than 12 consecutive months and the period ended because you sold or exchanged the property. Amended us tax form 1040x However, this special rule does not apply when dividing expenses between rental and personal use. Amended us tax form 1040x See Property Changed to Rental Use in chapter 4. Amended us tax form 1040x Example 1. Amended us tax form 1040x On February 29, 2012, you moved out of the house you had lived in for 6 years because you accepted a job in another town. Amended us tax form 1040x You rented your house at a fair rental price from March 15, 2012, to May 14, 2013 (14 months). Amended us tax form 1040x On June 1, 2013, you moved back into your old house. Amended us tax form 1040x The days you used the house as your main home from January 1 to February 29, 2012, and from June 1 to December 31, 2013, are not counted as days of personal use. Amended us tax form 1040x Therefore, you would use the rules in chapter 1 when figuring your rental income and expenses. Amended us tax form 1040x Example 2. Amended us tax form 1040x On January 31, you moved out of the condominium where you had lived for 3 years. Amended us tax form 1040x You offered it for rent at a fair rental price beginning on February 1. Amended us tax form 1040x You were unable to rent it until April. Amended us tax form 1040x On September 15, you sold the condominium. Amended us tax form 1040x The days you used the condominium as your main home from January 1 to January 31 are not counted as days of personal use when determining whether you used it as a home. Amended us tax form 1040x Examples. Amended us tax form 1040x   The following examples show how to determine whether you used your rental property as a home. Amended us tax form 1040x Example 1. Amended us tax form 1040x You converted the basement of your home into an apartment with a bedroom, a bathroom, and a small kitchen. Amended us tax form 1040x You rented the basement apartment at a fair rental price to college students during the regular school year. Amended us tax form 1040x You rented to them on a 9-month lease (273 days). Amended us tax form 1040x You figured 10% of the total days rented to others at a fair rental price is 27 days. Amended us tax form 1040x During June (30 days), your brothers stayed with you and lived in the basement apartment rent free. Amended us tax form 1040x Your basement apartment was used as a home because you used it for personal purposes for 30 days. Amended us tax form 1040x Rent-free use by your brothers is considered personal use. Amended us tax form 1040x Your personal use (30 days) is more than the greater of 14 days or 10% of the total days it was rented (27 days). Amended us tax form 1040x Example 2. Amended us tax form 1040x You rented the guest bedroom in your home at a fair rental price during the local college's homecoming, commencement, and football weekends (a total of 27 days). Amended us tax form 1040x Your sister-in-law stayed in the room, rent free, for the last 3 weeks (21 days) in July. Amended us tax form 1040x You figured 10% of the total days rented to others at a fair rental price is 3 days. Amended us tax form 1040x The room was used as a home because you used it for personal purposes for 21 days. Amended us tax form 1040x That is more than the greater of 14 days or 10% of the 27 days it was rented (3 days). Amended us tax form 1040x Example 3. Amended us tax form 1040x You own a condominium apartment in a resort area. Amended us tax form 1040x You rented it at a fair rental price for a total of 170 days during the year. Amended us tax form 1040x For 12 of these days, the tenant was not able to use the apartment and allowed you to use it even though you did not refund any of the rent. Amended us tax form 1040x Your family actually used the apartment for 10 of those days. Amended us tax form 1040x Therefore, the apartment is treated as having been rented for 160 (170 – 10) days. Amended us tax form 1040x You figured 10% of the total days rented to others at a fair rental price is 16 days. Amended us tax form 1040x Your family also used the apartment for 7 other days during the year. Amended us tax form 1040x You used the apartment as a home because you used it for personal purposes for 17 days. Amended us tax form 1040x That is more than the greater of 14 days or 10% of the 160 days it was rented (16 days). Amended us tax form 1040x Minimal rental use. Amended us tax form 1040x   If you use the dwelling unit as a home and you rent it less than 15 days during the year, that period is not treated as rental activity. Amended us tax form 1040x See Used as a home but rented less than 15 days, later, for more information. Amended us tax form 1040x Limit on deductions. Amended us tax form 1040x   Renting a dwelling unit that is considered a home is not a passive activity. Amended us tax form 1040x Instead, if your rental expenses are more than your rental income, some or all of the excess expenses cannot be used to offset income from other sources. Amended us tax form 1040x The excess expenses that cannot be used to offset income from other sources are carried forward to the next year and treated as rental expenses for the same property. Amended us tax form 1040x Any expenses carried forward to the next year will be subject to any limits that apply for that year. Amended us tax form 1040x This limitation will apply to expenses carried forward to another year even if you do not use the property as your home for that subsequent year. Amended us tax form 1040x   To figure your deductible rental expenses for this year and any carryover to next year, use Worksheet 5–1. Amended us tax form 1040x Reporting Income and Deductions Property not used for personal purposes. Amended us tax form 1040x   If you do not use a dwelling unit for personal purposes, see chapter 3 for how to report your rental income and expenses. Amended us tax form 1040x Property used for personal purposes. Amended us tax form 1040x   If you do use a dwelling unit for personal purposes, then how you report your rental income and expenses depends on whether you used the dwelling unit as a home. Amended us tax form 1040x Not used as a home. Amended us tax form 1040x   If you use a dwelling unit for personal purposes, but not as a home, report all the rental income in your income. Amended us tax form 1040x Since you used the dwelling unit for personal purposes, you must divide your expenses between the rental use and the personal use as described earlier in this chapter under Dividing Expenses . Amended us tax form 1040x The expenses for personal use are not deductible as rental expenses. Amended us tax form 1040x   Your deductible rental expenses can be more than your gross rental income; however, see Limits on Rental Losses in chapter 3. Amended us tax form 1040x Used as a home but rented less than 15 days. Amended us tax form 1040x   If you use a dwelling unit as a home and you rent it less than 15 days during the year, its primary function is not considered to be rental and it should not be reported on Schedule E (Form 1040). Amended us tax form 1040x You are not required to report the rental income and rental expenses from this activity. Amended us tax form 1040x The expenses, including qualified mortgage interest, property taxes, and any qualified casualty loss will be reported as normally allowed on Schedule A (Form 1040). Amended us tax form 1040x See the Instructions for Schedule A (Form 1040) for more information on deducting these expenses. Amended us tax form 1040x Used as a home and rented 15 days or more. Amended us tax form 1040x   If you use a dwelling unit as a home and rent it 15 days or more during the year, include all your rental income in your income. Amended us tax form 1040x Since you used the dwelling unit for personal purposes, you must divide your expenses between the rental use and the personal use as described earlier in this chapter under Dividing Expenses . Amended us tax form 1040x The expenses for personal use are not deductible as rental expenses. Amended us tax form 1040x   If you had a net profit from renting the dwelling unit for the year (that is, if your rental income is more than the total of your rental expenses, including depreciation), deduct all of your rental expenses. Amended us tax form 1040x You do not need to use Worksheet 5-1. Amended us tax form 1040x   However, if you had a net loss from renting the dwelling unit for the year, your deduction for certain rental expenses is limited. Amended us tax form 1040x To figure your deductible rental expenses and any carryover to next year, use Worksheet 5–1. Amended us tax form 1040x Worksheet 5-1. Amended us tax form 1040x Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Use this worksheet only if you answer “yes” to all of the following questions. Amended us tax form 1040x Did you use the dwelling unit as a home this year? (See Dwelling Unit Used as a Home . Amended us tax form 1040x ) Did you rent the dwelling unit at a fair rental price 15 days or more this year? Is the total of your rental expenses and depreciation more than your rental income? PART I. Amended us tax form 1040x Rental Use Percentage A. Amended us tax form 1040x Total days available for rent at fair rental price A. Amended us tax form 1040x       B. Amended us tax form 1040x Total days available for rent (line A) but not rented B. Amended us tax form 1040x       C. Amended us tax form 1040x Total days of rental use. Amended us tax form 1040x Subtract line B from line A C. Amended us tax form 1040x       D. Amended us tax form 1040x Total days of personal use (including days rented at less than fair rental price) D. Amended us tax form 1040x       E. Amended us tax form 1040x Total days of rental and personal use. Amended us tax form 1040x Add lines C and D E. Amended us tax form 1040x       F. Amended us tax form 1040x Percentage of expenses allowed for rental. Amended us tax form 1040x Divide line C by line E     F. Amended us tax form 1040x . Amended us tax form 1040x PART II. Amended us tax form 1040x Allowable Rental Expenses 1. Amended us tax form 1040x Enter rents received 1. Amended us tax form 1040x   2a. Amended us tax form 1040x Enter the rental portion of deductible home mortgage interest and qualified mortgage insurance premiums (see instructions) 2a. Amended us tax form 1040x       b. Amended us tax form 1040x Enter the rental portion of real estate taxes b. Amended us tax form 1040x       c. Amended us tax form 1040x Enter the rental portion of deductible casualty and theft losses (see instructions) c. Amended us tax form 1040x       d. Amended us tax form 1040x Enter direct rental expenses (see instructions) d. Amended us tax form 1040x       e. Amended us tax form 1040x Fully deductible rental expenses. Amended us tax form 1040x Add lines 2a–2d. Amended us tax form 1040x Enter here and  on the appropriate lines on Schedule E (see instructions) 2e. Amended us tax form 1040x   3. Amended us tax form 1040x Subtract line 2e from line 1. Amended us tax form 1040x If zero or less, enter -0- 3. Amended us tax form 1040x   4a. Amended us tax form 1040x Enter the rental portion of expenses directly related to operating or maintaining  the dwelling unit (such as repairs, insurance, and utilities) 4a. Amended us tax form 1040x       b. Amended us tax form 1040x Enter the rental portion of excess mortgage interest and qualified mortgage insurance premiums (see instructions) b. Amended us tax form 1040x       c. Amended us tax form 1040x Carryover of operating expenses from 2012 worksheet c. Amended us tax form 1040x       d. Amended us tax form 1040x Add lines 4a–4c d. Amended us tax form 1040x       e. Amended us tax form 1040x Allowable expenses. Amended us tax form 1040x Enter the smaller of line 3 or line 4d (see instructions) 4e. Amended us tax form 1040x   5. Amended us tax form 1040x Subtract line 4e from line 3. Amended us tax form 1040x If zero or less, enter -0- 5. Amended us tax form 1040x   6a. Amended us tax form 1040x Enter the rental portion of excess casualty and theft losses (see instructions) 6a. Amended us tax form 1040x       b. Amended us tax form 1040x Enter the rental portion of depreciation of the dwelling unit b. Amended us tax form 1040x       c. Amended us tax form 1040x Carryover of excess casualty losses and depreciation from 2012 worksheet c. Amended us tax form 1040x       d. Amended us tax form 1040x Add lines 6a–6c d. Amended us tax form 1040x       e. Amended us tax form 1040x Allowable excess casualty and theft losses and depreciation. Amended us tax form 1040x Enter the smaller of  line 5 or line 6d (see instructions) 6e. Amended us tax form 1040x   PART III. Amended us tax form 1040x Carryover of Unallowed Expenses to Next Year 7a. Amended us tax form 1040x Operating expenses to be carried over to next year. Amended us tax form 1040x Subtract line 4e from line 4d 7a. Amended us tax form 1040x   b. Amended us tax form 1040x Excess casualty and theft losses and depreciation to be carried over to next year. Amended us tax form 1040x  Subtract line 6e from line 6d b. Amended us tax form 1040x   Worksheet 5-1 Instructions. Amended us tax form 1040x Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Caution. Amended us tax form 1040x Use the percentage determined in Part I, line F, to figure the rental portions to enter on lines 2a–2c, 4a–4b, and 6a–6b of  Part II. Amended us tax form 1040x Line 2a. Amended us tax form 1040x Figure the mortgage interest on the dwelling unit that you could deduct on Schedule A as if you had not rented the unit. Amended us tax form 1040x Do not include interest on a loan that did not benefit the dwelling unit. Amended us tax form 1040x For example, do not include interest on a home equity loan used to pay off credit cards or other personal loans, buy a car, or pay college tuition. Amended us tax form 1040x Include interest on a loan used to buy, build, or improve the dwelling unit, or to refinance such a loan. Amended us tax form 1040x Include the rental portion of this interest in the total you enter on line 2a of the worksheet. Amended us tax form 1040x   Figure the qualified mortgage insurance premiums on the dwelling unit that you could deduct on line 13 of Schedule A as if you had not rented the unit. Amended us tax form 1040x See the Schedule A instructions. Amended us tax form 1040x However, figure your adjusted gross income (Form 1040, line 38) without your rental income and expenses from the dwelling unit. Amended us tax form 1040x See Line 4b to deduct the part of the qualified mortgage insurance premiums not allowed because of the adjusted gross income limit. Amended us tax form 1040x Include the rental portion of the amount from Schedule A, line 13, in the total you enter on line 2a of the worksheet. Amended us tax form 1040x   Note. Amended us tax form 1040x Do not file this Schedule A or use it to figure the amount to deduct on line 13 of that schedule. Amended us tax form 1040x Instead, figure the personal portion on a separate Schedule A. Amended us tax form 1040x If you have deducted mortgage interest or qualified mortgage insurance premiums on the dwelling unit on other forms, such as Schedule C or F, remember to reduce your Schedule A deduction by that amount. Amended us tax form 1040x           Line 2c. Amended us tax form 1040x Figure the casualty and theft losses related to the dwelling unit that you could deduct on Schedule A as if you had not rented the dwelling unit. Amended us tax form 1040x To do this, complete Section A of Form 4684, Casualties and Thefts, treating the losses as personal losses. Amended us tax form 1040x If any of the loss is due to a federally declared disaster, see the Instructions for Form 4684. Amended us tax form 1040x On Form 4684, line 17, enter 10% of your adjusted gross income figured without your rental income and expenses from the dwelling unit. Amended us tax form 1040x Enter the rental portion of the result from Form 4684, line 18, on line 2c of this worksheet. Amended us tax form 1040x   Note. Amended us tax form 1040x Do not file this Form 4684 or use it to figure your personal losses on Schedule A. Amended us tax form 1040x Instead, figure the personal portion on a separate Form 4684. Amended us tax form 1040x           Line 2d. Amended us tax form 1040x Enter the total of your rental expenses that are directly related only to the rental activity. Amended us tax form 1040x These include interest on loans used for rental activities other than to buy, build, or improve the dwelling unit. Amended us tax form 1040x Also include rental agency fees, advertising, office supplies, and depreciation on office equipment used in your rental activity. Amended us tax form 1040x           Line 2e. Amended us tax form 1040x You can deduct the amounts on lines 2a, 2b, 2c, and 2d as rental expenses on Schedule E even if your rental expenses are more than your rental income. Amended us tax form 1040x Enter the amounts on lines 2a, 2b, 2c, and 2d on the appropriate lines of Schedule E. Amended us tax form 1040x           Line 4b. Amended us tax form 1040x On line 2a, you entered the rental portion of the mortgage interest or qualified mortgage insurance premiums you could deduct on Schedule A if you had not rented the dwelling unit. Amended us tax form 1040x If you had additional mortgage interest and qualified mortgage insurance premiums that would not be deductible on Schedule A because of limits imposed on them, enter on line 4b of this worksheet the rental portion of those excess amounts. Amended us tax form 1040x Do not include interest on a loan that did not benefit the dwelling unit  (as explained in the line 2a instructions). Amended us tax form 1040x           Line 4e. Amended us tax form 1040x You can deduct the amounts on lines 4a, 4b, and 4c as rental expenses on Schedule E only to the extent they are not more than the amount on line 4e. Amended us tax form 1040x *           Line 6a. Amended us tax form 1040x To find the rental portion of excess casualty and theft losses, use the Form 4684 you prepared for line 2c of this worksheet. Amended us tax form 1040x   A. Amended us tax form 1040x Enter the amount from Form 4684, line 10       B. Amended us tax form 1040x Enter the rental portion of line A       C. Amended us tax form 1040x Enter the amount from line 2c of this worksheet       D. Amended us tax form 1040x Subtract line C from line B. Amended us tax form 1040x Enter the result here and on line 6a of this worksheet               Line 6e. Amended us tax form 1040x You can deduct the amounts on lines 6a, 6b, and 6c as rental expenses on Schedule E only to the extent they are not more than the amount on line 6e. Amended us tax form 1040x * *Allocating the limited deduction. Amended us tax form 1040x If you cannot deduct all of the amount on line 4d or 6d this year, you can allocate the allowable deduction in any way you wish among the expenses included on line 4d or 6d. Amended us tax form 1040x Enter the amount you allocate to each expense on the appropriate line of Schedule E, Part I. Amended us tax form 1040x Prev  Up  Next   Home   More Online Publications