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What If I Did Not File 2011 Taxes

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What If I Did Not File 2011 Taxes

What if i did not file 2011 taxes 5. What if i did not file 2011 taxes   Personal Use of Dwelling Unit (Including Vacation Home) Table of Contents Dividing Expenses Dwelling Unit Used as a HomeMain home. What if i did not file 2011 taxes Shared equity financing agreement. What if i did not file 2011 taxes Donation of use of the property. What if i did not file 2011 taxes Examples. What if i did not file 2011 taxes Days used for repairs and maintenance. What if i did not file 2011 taxes Days used as a main home before or after renting. What if i did not file 2011 taxes Reporting Income and DeductionsNot used as a home. What if i did not file 2011 taxes Used as a home but rented less than 15 days. What if i did not file 2011 taxes Used as a home and rented 15 days or more. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Only your rental expenses may deducted on Schedule E (Form 1040). What if i did not file 2011 taxes Some of your personal expenses may be deductible if you itemize your deductions on Schedule A (Form 1040). What if i did not file 2011 taxes You must also determine if the dwelling unit is considered a home. What if i did not file 2011 taxes The amount of rental expenses that you can deduct may be limited if the dwelling unit is considered a home. What if i did not file 2011 taxes Whether a dwelling unit is considered a home depends on how many days during the year are considered to be days of personal use. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Dwelling unit. What if i did not file 2011 taxes   A dwelling unit includes a house, apartment, condominium, mobile home, boat, vacation home, or similar property. What if i did not file 2011 taxes It also includes all structures or other property belonging to the dwelling unit. What if i did not file 2011 taxes A dwelling unit has basic living accommodations, such as sleeping space, a toilet, and cooking facilities. What if i did not file 2011 taxes   A dwelling unit does not include property (or part of the property) used solely as a hotel, motel, inn, or similar establishment. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Example. What if i did not file 2011 taxes You rent a room in your home that is always available for short-term occupancy by paying customers. What if i did not file 2011 taxes You do not use the room yourself and you allow only paying customers to use the room. What if i did not file 2011 taxes This room is used solely as a hotel, motel, inn, or similar establishment and is not a dwelling unit. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes When dividing your expenses, follow these rules. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes (This rule does not apply when determining whether you used the unit as a home. What if i did not file 2011 taxes ) Any day that the unit is available for rent but not actually rented is not a day of rental use. What if i did not file 2011 taxes Fair rental price. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes   Ask yourself the following questions when comparing another property with yours. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Example. What if i did not file 2011 taxes Your beach cottage was available for rent from June 1 through August 31 (92 days). What if i did not file 2011 taxes 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. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Your family also used the cottage during the last 2 weeks of May (14 days). What if i did not file 2011 taxes The cottage was not used at all before May 17 or after August 31. What if i did not file 2011 taxes You figure the part of the cottage expenses to treat as rental expenses as follows. What if i did not file 2011 taxes The cottage was used for rental a total of 85 days (92 − 7). What if i did not file 2011 taxes The days it was available for rent but not rented (7 days) are not days of rental use. What if i did not file 2011 taxes The July weekend (2 days) you used it is rental use because you received a fair rental price for the weekend. What if i did not file 2011 taxes You used the cottage for personal purposes for 14 days (the last 2 weeks in May). What if i did not file 2011 taxes The total use of the cottage was 99 days (14 days personal use + 85 days rental use). What if i did not file 2011 taxes Your rental expenses are 85/99 (86%) of the cottage expenses. What if i did not file 2011 taxes Note. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Therefore, you had 16 days of personal use and 83 days of rental use for this purpose. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes If you have a net loss, you may not be able to deduct all of the rental expenses. What if i did not file 2011 taxes See Dwelling Unit Used as a Home, next. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes See What is a day of personal use , later. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Instead, count it as a day of personal use in applying both (1) and (2) above. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes 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). What if i did not file 2011 taxes However, see Days used as a main home before or after renting , later. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Family includes only your spouse, brothers and sisters, half-brothers and half-sisters, ancestors (parents, grandparents, etc. What if i did not file 2011 taxes ), and lineal descendants (children, grandchildren, etc. What if i did not file 2011 taxes ). What if i did not file 2011 taxes Anyone under an arrangement that lets you use some other dwelling unit. What if i did not file 2011 taxes Anyone at less than a fair rental price. What if i did not file 2011 taxes Main home. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes Shared equity financing agreement. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes Donation of use of the property. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes Examples. What if i did not file 2011 taxes   The following examples show how to determine if you have days of personal use. What if i did not file 2011 taxes Example 1. What if i did not file 2011 taxes You and your neighbor are co-owners of a condominium at the beach. What if i did not file 2011 taxes Last year, you rented the unit to vacationers whenever possible. What if i did not file 2011 taxes The unit was not used as a main home by anyone. What if i did not file 2011 taxes Your neighbor used the unit for 2 weeks last year; you did not use it at all. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Example 2. What if i did not file 2011 taxes You and your neighbors are co-owners of a house under a shared equity financing agreement. What if i did not file 2011 taxes Your neighbors live in the house and pay you a fair rental price. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes This is because your neighbors rent the house as their main home under a shared equity financing agreement. What if i did not file 2011 taxes Example 3. What if i did not file 2011 taxes You own a rental property that you rent to your son. What if i did not file 2011 taxes Your son does not own any interest in this property. What if i did not file 2011 taxes He uses it as his main home and pays you a fair rental price. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Example 4. What if i did not file 2011 taxes You rent your beach house to Rosa. What if i did not file 2011 taxes Rosa rents her cabin in the mountains to you. What if i did not file 2011 taxes You each pay a fair rental price. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Example 5. What if i did not file 2011 taxes You rent an apartment to your mother at less than a fair rental price. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Days used for repairs and maintenance. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Example. What if i did not file 2011 taxes Corey owns a cabin in the mountains that he rents for most of the year. What if i did not file 2011 taxes He spends a week at the cabin with family members. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Corey's family members, however, work substantially full time on the cabin each day during the week. What if i did not file 2011 taxes The main purpose of being at the cabin that week is to do maintenance work. What if i did not file 2011 taxes Therefore, the use of the cabin during the week by Corey and his family will not be considered personal use by Corey. What if i did not file 2011 taxes Days used as a main home before or after renting. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes Do not count them as days of personal use if: You rented or tried to rent the property for 12 or more consecutive months. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes However, this special rule does not apply when dividing expenses between rental and personal use. What if i did not file 2011 taxes See Property Changed to Rental Use in chapter 4. What if i did not file 2011 taxes Example 1. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes You rented your house at a fair rental price from March 15, 2012, to May 14, 2013 (14 months). What if i did not file 2011 taxes On June 1, 2013, you moved back into your old house. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Therefore, you would use the rules in chapter 1 when figuring your rental income and expenses. What if i did not file 2011 taxes Example 2. What if i did not file 2011 taxes On January 31, you moved out of the condominium where you had lived for 3 years. What if i did not file 2011 taxes You offered it for rent at a fair rental price beginning on February 1. What if i did not file 2011 taxes You were unable to rent it until April. What if i did not file 2011 taxes On September 15, you sold the condominium. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Examples. What if i did not file 2011 taxes   The following examples show how to determine whether you used your rental property as a home. What if i did not file 2011 taxes Example 1. What if i did not file 2011 taxes You converted the basement of your home into an apartment with a bedroom, a bathroom, and a small kitchen. What if i did not file 2011 taxes You rented the basement apartment at a fair rental price to college students during the regular school year. What if i did not file 2011 taxes You rented to them on a 9-month lease (273 days). What if i did not file 2011 taxes You figured 10% of the total days rented to others at a fair rental price is 27 days. What if i did not file 2011 taxes During June (30 days), your brothers stayed with you and lived in the basement apartment rent free. What if i did not file 2011 taxes Your basement apartment was used as a home because you used it for personal purposes for 30 days. What if i did not file 2011 taxes Rent-free use by your brothers is considered personal use. What if i did not file 2011 taxes Your personal use (30 days) is more than the greater of 14 days or 10% of the total days it was rented (27 days). What if i did not file 2011 taxes Example 2. What if i did not file 2011 taxes 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). What if i did not file 2011 taxes Your sister-in-law stayed in the room, rent free, for the last 3 weeks (21 days) in July. What if i did not file 2011 taxes You figured 10% of the total days rented to others at a fair rental price is 3 days. What if i did not file 2011 taxes The room was used as a home because you used it for personal purposes for 21 days. What if i did not file 2011 taxes That is more than the greater of 14 days or 10% of the 27 days it was rented (3 days). What if i did not file 2011 taxes Example 3. What if i did not file 2011 taxes You own a condominium apartment in a resort area. What if i did not file 2011 taxes You rented it at a fair rental price for a total of 170 days during the year. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Your family actually used the apartment for 10 of those days. What if i did not file 2011 taxes Therefore, the apartment is treated as having been rented for 160 (170 – 10) days. What if i did not file 2011 taxes You figured 10% of the total days rented to others at a fair rental price is 16 days. What if i did not file 2011 taxes Your family also used the apartment for 7 other days during the year. What if i did not file 2011 taxes You used the apartment as a home because you used it for personal purposes for 17 days. What if i did not file 2011 taxes That is more than the greater of 14 days or 10% of the 160 days it was rented (16 days). What if i did not file 2011 taxes Minimal rental use. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes See Used as a home but rented less than 15 days, later, for more information. What if i did not file 2011 taxes Limit on deductions. What if i did not file 2011 taxes   Renting a dwelling unit that is considered a home is not a passive activity. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Any expenses carried forward to the next year will be subject to any limits that apply for that year. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes   To figure your deductible rental expenses for this year and any carryover to next year, use Worksheet 5–1. What if i did not file 2011 taxes Reporting Income and Deductions Property not used for personal purposes. What if i did not file 2011 taxes   If you do not use a dwelling unit for personal purposes, see chapter 3 for how to report your rental income and expenses. What if i did not file 2011 taxes Property used for personal purposes. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes Not used as a home. What if i did not file 2011 taxes   If you use a dwelling unit for personal purposes, but not as a home, report all the rental income in your income. What if i did not file 2011 taxes 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 . What if i did not file 2011 taxes The expenses for personal use are not deductible as rental expenses. What if i did not file 2011 taxes   Your deductible rental expenses can be more than your gross rental income; however, see Limits on Rental Losses in chapter 3. What if i did not file 2011 taxes Used as a home but rented less than 15 days. What if i did not file 2011 taxes   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). What if i did not file 2011 taxes You are not required to report the rental income and rental expenses from this activity. What if i did not file 2011 taxes The expenses, including qualified mortgage interest, property taxes, and any qualified casualty loss will be reported as normally allowed on Schedule A (Form 1040). What if i did not file 2011 taxes See the Instructions for Schedule A (Form 1040) for more information on deducting these expenses. What if i did not file 2011 taxes Used as a home and rented 15 days or more. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes 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 . What if i did not file 2011 taxes The expenses for personal use are not deductible as rental expenses. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes You do not need to use Worksheet 5-1. What if i did not file 2011 taxes   However, if you had a net loss from renting the dwelling unit for the year, your deduction for certain rental expenses is limited. What if i did not file 2011 taxes To figure your deductible rental expenses and any carryover to next year, use Worksheet 5–1. What if i did not file 2011 taxes Worksheet 5-1. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Did you use the dwelling unit as a home this year? (See Dwelling Unit Used as a Home . What if i did not file 2011 taxes ) 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. What if i did not file 2011 taxes Rental Use Percentage A. What if i did not file 2011 taxes Total days available for rent at fair rental price A. What if i did not file 2011 taxes       B. What if i did not file 2011 taxes Total days available for rent (line A) but not rented B. What if i did not file 2011 taxes       C. What if i did not file 2011 taxes Total days of rental use. What if i did not file 2011 taxes Subtract line B from line A C. What if i did not file 2011 taxes       D. What if i did not file 2011 taxes Total days of personal use (including days rented at less than fair rental price) D. What if i did not file 2011 taxes       E. What if i did not file 2011 taxes Total days of rental and personal use. What if i did not file 2011 taxes Add lines C and D E. What if i did not file 2011 taxes       F. What if i did not file 2011 taxes Percentage of expenses allowed for rental. What if i did not file 2011 taxes Divide line C by line E     F. What if i did not file 2011 taxes . What if i did not file 2011 taxes PART II. What if i did not file 2011 taxes Allowable Rental Expenses 1. What if i did not file 2011 taxes Enter rents received 1. What if i did not file 2011 taxes   2a. What if i did not file 2011 taxes Enter the rental portion of deductible home mortgage interest and qualified mortgage insurance premiums (see instructions) 2a. What if i did not file 2011 taxes       b. What if i did not file 2011 taxes Enter the rental portion of real estate taxes b. What if i did not file 2011 taxes       c. What if i did not file 2011 taxes Enter the rental portion of deductible casualty and theft losses (see instructions) c. What if i did not file 2011 taxes       d. What if i did not file 2011 taxes Enter direct rental expenses (see instructions) d. What if i did not file 2011 taxes       e. What if i did not file 2011 taxes Fully deductible rental expenses. What if i did not file 2011 taxes Add lines 2a–2d. What if i did not file 2011 taxes Enter here and  on the appropriate lines on Schedule E (see instructions) 2e. What if i did not file 2011 taxes   3. What if i did not file 2011 taxes Subtract line 2e from line 1. What if i did not file 2011 taxes If zero or less, enter -0- 3. What if i did not file 2011 taxes   4a. What if i did not file 2011 taxes Enter the rental portion of expenses directly related to operating or maintaining  the dwelling unit (such as repairs, insurance, and utilities) 4a. What if i did not file 2011 taxes       b. What if i did not file 2011 taxes Enter the rental portion of excess mortgage interest and qualified mortgage insurance premiums (see instructions) b. What if i did not file 2011 taxes       c. What if i did not file 2011 taxes Carryover of operating expenses from 2012 worksheet c. What if i did not file 2011 taxes       d. What if i did not file 2011 taxes Add lines 4a–4c d. What if i did not file 2011 taxes       e. What if i did not file 2011 taxes Allowable expenses. What if i did not file 2011 taxes Enter the smaller of line 3 or line 4d (see instructions) 4e. What if i did not file 2011 taxes   5. What if i did not file 2011 taxes Subtract line 4e from line 3. What if i did not file 2011 taxes If zero or less, enter -0- 5. What if i did not file 2011 taxes   6a. What if i did not file 2011 taxes Enter the rental portion of excess casualty and theft losses (see instructions) 6a. What if i did not file 2011 taxes       b. What if i did not file 2011 taxes Enter the rental portion of depreciation of the dwelling unit b. What if i did not file 2011 taxes       c. What if i did not file 2011 taxes Carryover of excess casualty losses and depreciation from 2012 worksheet c. What if i did not file 2011 taxes       d. What if i did not file 2011 taxes Add lines 6a–6c d. What if i did not file 2011 taxes       e. What if i did not file 2011 taxes Allowable excess casualty and theft losses and depreciation. What if i did not file 2011 taxes Enter the smaller of  line 5 or line 6d (see instructions) 6e. What if i did not file 2011 taxes   PART III. What if i did not file 2011 taxes Carryover of Unallowed Expenses to Next Year 7a. What if i did not file 2011 taxes Operating expenses to be carried over to next year. What if i did not file 2011 taxes Subtract line 4e from line 4d 7a. What if i did not file 2011 taxes   b. What if i did not file 2011 taxes Excess casualty and theft losses and depreciation to be carried over to next year. What if i did not file 2011 taxes  Subtract line 6e from line 6d b. What if i did not file 2011 taxes   Worksheet 5-1 Instructions. What if i did not file 2011 taxes Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Caution. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Line 2a. What if i did not file 2011 taxes Figure the mortgage interest on the dwelling unit that you could deduct on Schedule A as if you had not rented the unit. What if i did not file 2011 taxes Do not include interest on a loan that did not benefit the dwelling unit. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Include interest on a loan used to buy, build, or improve the dwelling unit, or to refinance such a loan. What if i did not file 2011 taxes Include the rental portion of this interest in the total you enter on line 2a of the worksheet. What if i did not file 2011 taxes   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. What if i did not file 2011 taxes See the Schedule A instructions. What if i did not file 2011 taxes However, figure your adjusted gross income (Form 1040, line 38) without your rental income and expenses from the dwelling unit. What if i did not file 2011 taxes See Line 4b to deduct the part of the qualified mortgage insurance premiums not allowed because of the adjusted gross income limit. What if i did not file 2011 taxes Include the rental portion of the amount from Schedule A, line 13, in the total you enter on line 2a of the worksheet. What if i did not file 2011 taxes   Note. What if i did not file 2011 taxes Do not file this Schedule A or use it to figure the amount to deduct on line 13 of that schedule. What if i did not file 2011 taxes Instead, figure the personal portion on a separate Schedule A. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes           Line 2c. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes To do this, complete Section A of Form 4684, Casualties and Thefts, treating the losses as personal losses. What if i did not file 2011 taxes If any of the loss is due to a federally declared disaster, see the Instructions for Form 4684. What if i did not file 2011 taxes On Form 4684, line 17, enter 10% of your adjusted gross income figured without your rental income and expenses from the dwelling unit. What if i did not file 2011 taxes Enter the rental portion of the result from Form 4684, line 18, on line 2c of this worksheet. What if i did not file 2011 taxes   Note. What if i did not file 2011 taxes Do not file this Form 4684 or use it to figure your personal losses on Schedule A. What if i did not file 2011 taxes Instead, figure the personal portion on a separate Form 4684. What if i did not file 2011 taxes           Line 2d. What if i did not file 2011 taxes Enter the total of your rental expenses that are directly related only to the rental activity. What if i did not file 2011 taxes These include interest on loans used for rental activities other than to buy, build, or improve the dwelling unit. What if i did not file 2011 taxes Also include rental agency fees, advertising, office supplies, and depreciation on office equipment used in your rental activity. What if i did not file 2011 taxes           Line 2e. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Enter the amounts on lines 2a, 2b, 2c, and 2d on the appropriate lines of Schedule E. What if i did not file 2011 taxes           Line 4b. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Do not include interest on a loan that did not benefit the dwelling unit  (as explained in the line 2a instructions). What if i did not file 2011 taxes           Line 4e. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes *           Line 6a. What if i did not file 2011 taxes To find the rental portion of excess casualty and theft losses, use the Form 4684 you prepared for line 2c of this worksheet. What if i did not file 2011 taxes   A. What if i did not file 2011 taxes Enter the amount from Form 4684, line 10       B. What if i did not file 2011 taxes Enter the rental portion of line A       C. What if i did not file 2011 taxes Enter the amount from line 2c of this worksheet       D. What if i did not file 2011 taxes Subtract line C from line B. What if i did not file 2011 taxes Enter the result here and on line 6a of this worksheet               Line 6e. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes * *Allocating the limited deduction. What if i did not file 2011 taxes 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. What if i did not file 2011 taxes Enter the amount you allocate to each expense on the appropriate line of Schedule E, Part I. 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The What If I Did Not File 2011 Taxes

What if i did not file 2011 taxes Part Five -   Standard Deduction and Itemized Deductions After you have figured your adjusted gross income, you are ready to subtract the deductions used to figure taxable income. What if i did not file 2011 taxes You can subtract either the standard deduction or itemized deductions. What if i did not file 2011 taxes Itemized deductions are deductions for certain expenses that are listed on Schedule A (Form 1040). What if i did not file 2011 taxes The ten chapters in this part discuss the standard deduction, each itemized deduction, and a limit on some of your itemized deductions if your adjusted gross income is more than certain amounts. What if i did not file 2011 taxes See chapter 20 for the factors to consider when deciding whether to subtract the standard deduction or itemized deductions. What if i did not file 2011 taxes Table of Contents 20. What if i did not file 2011 taxes   Standard DeductionWhat's New Introduction Standard Deduction Amount Standard Deduction for Dependents Who Should ItemizeWhen to itemize. What if i did not file 2011 taxes Married persons who filed separate returns. What if i did not file 2011 taxes 21. What if i did not file 2011 taxes   Medical and Dental ExpensesWhat's New Introduction Useful Items - You may want to see: What Are Medical Expenses? What Expenses Can You Include This Year?Community property states. What if i did not file 2011 taxes How Much of the Expenses Can You Deduct? Whose Medical Expenses Can You Include?Yourself Spouse Dependent Decedent What Medical Expenses Are Includible?Insurance Premiums Meals and Lodging Transportation Disabled Dependent Care Expenses How Do You Treat Reimbursements?Insurance Reimbursement Damages for Personal Injuries How Do You Figure and Report the Deduction on Your Tax Return?What Tax Form Do You Use? Impairment-Related Work Expenses Health Insurance Costs for Self-Employed Persons 22. What if i did not file 2011 taxes   TaxesIntroductionIndian tribal government. What if i did not file 2011 taxes Useful Items - You may want to see: Tests To Deduct Any Tax Income TaxesState and Local Income Taxes Foreign Income Taxes General Sales TaxesMotor vehicles. What if i did not file 2011 taxes Real Estate TaxesReal estate taxes for prior years. What if i did not file 2011 taxes Examples. What if i did not file 2011 taxes Form 1099-S. What if i did not file 2011 taxes Real Estate-Related Items You Cannot Deduct Personal Property Taxes Taxes and Fees You Cannot Deduct Where To Deduct 23. What if i did not file 2011 taxes   Interest ExpenseIntroduction Useful Items - You may want to see: Home Mortgage InterestAmount Deductible Points Mortgage Insurance Premiums Form 1098, Mortgage Interest Statement Investment InterestInvestment Property Allocation of Interest Expense Limit on Deduction Items You Cannot DeductPersonal Interest Allocation of Interest How To ReportMore than one borrower. What if i did not file 2011 taxes Mortgage proceeds used for business or investment. What if i did not file 2011 taxes 24. What if i did not file 2011 taxes   ContributionsIntroduction Useful Items - You may want to see: Organizations That Qualify To Receive Deductible ContributionsTypes of Qualified Organizations Contributions You Can DeductContributions From Which You Benefit Expenses Paid for Student Living With You Out-of-Pocket Expenses in Giving Services Contributions You Cannot DeductContributions to Individuals Contributions to Nonqualified Organizations Contributions From Which You Benefit Value of Time or Services Personal Expenses Appraisal Fees Contributions of PropertyException. What if i did not file 2011 taxes Household items. What if i did not file 2011 taxes Deduction more than $500. What if i did not file 2011 taxes Form 1098-C. What if i did not file 2011 taxes Filing deadline approaching and still no Form 1098-C. What if i did not file 2011 taxes Exception 1—vehicle used or improved by organization. What if i did not file 2011 taxes Exception 2—vehicle given or sold to needy individual. What if i did not file 2011 taxes Deduction $500 or less. What if i did not file 2011 taxes Right to use property. What if i did not file 2011 taxes Tangible personal property. What if i did not file 2011 taxes Future interest. What if i did not file 2011 taxes Determining Fair Market Value Giving Property That Has Decreased in Value Giving Property That Has Increased in Value When To DeductChecks. What if i did not file 2011 taxes Text message. What if i did not file 2011 taxes Credit card. What if i did not file 2011 taxes Pay-by-phone account. What if i did not file 2011 taxes Stock certificate. What if i did not file 2011 taxes Promissory note. What if i did not file 2011 taxes Option. What if i did not file 2011 taxes Borrowed funds. What if i did not file 2011 taxes Limits on DeductionsCarryovers Records To KeepCash Contributions Noncash Contributions Out-of-Pocket Expenses How To Report 25. What if i did not file 2011 taxes   Nonbusiness Casualty and Theft LossesWhat's New Introduction Useful Items - You may want to see: CasualtyFamily pet. What if i did not file 2011 taxes Progressive deterioration. What if i did not file 2011 taxes Damage from corrosive drywall. What if i did not file 2011 taxes Theft Loss on Deposits Proof of Loss Figuring a LossDecrease in Fair Market Value Adjusted Basis Insurance and Other Reimbursements Single Casualty on Multiple Properties Deduction Limits$100 Rule 10% Rule When To Report Gains and LossesDisaster Area Loss How To Report Gains and Losses 26. What if i did not file 2011 taxes   Car Expenses and Other Employee Business ExpensesWhat's New Introduction Useful Items - You may want to see: Travel ExpensesTraveling Away From Home Tax Home Temporary Assignment or Job What Travel Expenses Are Deductible? Travel in the United States Travel Outside the United States Conventions Entertainment Expenses50% Limit What Entertainment Expenses Are Deductible? What Entertainment Expenses Are Not Deductible? Gift Expenses Transportation ExpensesArmed Forces reservists. What if i did not file 2011 taxes Parking fees. What if i did not file 2011 taxes Advertising display on car. What if i did not file 2011 taxes Car pools. What if i did not file 2011 taxes Hauling tools or instruments. What if i did not file 2011 taxes Union members' trips from a union hall. What if i did not file 2011 taxes Car Expenses RecordkeepingHow To Prove Expenses How Long To Keep Records and Receipts How To ReportGifts. What if i did not file 2011 taxes Statutory employees. What if i did not file 2011 taxes Reimbursements Completing Forms 2106 and 2106-EZ Special Rules 27. What if i did not file 2011 taxes   Tax Benefits for Work-Related EducationWhat's New Introduction Useful Items - You may want to see: Qualifying Work-Related EducationEducation Required by Employer or by Law Education To Maintain or Improve Skills Education To Meet Minimum Requirements Education That Qualifies You for a New Trade or Business What Expenses Can Be DeductedUnclaimed reimbursement. What if i did not file 2011 taxes Transportation Expenses Travel Expenses No Double Benefit Allowed Reimbursements Deducting Business ExpensesSelf-Employed Persons Employees Performing Artists and Fee-Basis Officials Impairment-Related Work Expenses Recordkeeping 28. What if i did not file 2011 taxes   Miscellaneous DeductionsWhat's New Introduction Useful Items - You may want to see: Deductions Subject to the 2% LimitUnreimbursed Employee Expenses (Line 21) Tax Preparation Fees (Line 22) Other Expenses (Line 23) Deductions Not Subject to the 2% LimitList of Deductions Nondeductible ExpensesList of Nondeductible Expenses 29. What if i did not file 2011 taxes   Limit on Itemized DeductionsIntroduction Useful Items - You may want to see: Are You Subject to the Limit? Which Itemized Deductions Are Limited? Which Itemized Deductions Are Not Limited? How Do You Figure the Limit?Example. What if i did not file 2011 taxes Prev  Up  Next   Home   More Online Publications