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Amended State Tax Forms

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Amended State Tax Forms

Amended state tax forms Publication 527 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionSale of main home used as rental property. Amended state tax forms Tax-free exchange of rental property occasionally used for personal purposes. Amended state tax forms Ordering forms and publications. Amended state tax forms Tax questions. Amended state tax forms Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 527, such as legislation enacted after it was published, go to www. Amended state tax forms irs. Amended state tax forms gov/pub527. Amended state tax forms What's New Net Investment Income Tax (NIIT). Amended state tax forms  Beginning in 2013, you may be subject to the Net Investment Income Tax (NIIT). Amended state tax forms NIIT is a 3. Amended state tax forms 8% tax on the lesser of net investment income or the excess of modified adjusted gross income (MAGI) over the threshold amount. Amended state tax forms Net investment income may include rental income and other income from passive activities. Amended state tax forms Use Form 8960, Net Investment Income Tax, to figure this tax. Amended state tax forms For more information on NIIT, go to IRS. Amended state tax forms gov and enter “Net Investment Income Tax” in the search box. Amended state tax forms Reminders Photographs of missing children. Amended state tax forms  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Amended state tax forms Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Amended state tax forms You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Amended state tax forms Introduction Do you own a second house that you rent out all the time? Do you own a vacation home that you rent out when you or your family isn't using it? These are two common types of residential rental activities discussed in this publication. Amended state tax forms In most cases, all rental income must be reported on your tax return, but there are differences in the expenses you are allowed to deduct and in the way the rental activity is reported on your return. Amended state tax forms First, this publication will look at the rental-for-profit activity in which there is no personal use of the property. Amended state tax forms We will look at types of income and when each is reported, and at types of expenses and which are deductible. Amended state tax forms Chapter 2 discusses depreciation as it applies to your rental real estate activity—what property can be depreciated and how to figure it. Amended state tax forms Chapter 3 covers the actual reporting of your rental income and deductions, including casualties and thefts, limitations on losses, and claiming the correct amount of depreciation. Amended state tax forms Special rental situations are grouped together in chapter 4. Amended state tax forms These include condominiums, cooperatives, property changed to rental use, renting only part of your property, and a not-for-profit rental activity. Amended state tax forms Finally, in chapter 5, we will look at the rules for rental income and expenses when there is also personal use of the dwelling unit, such as a vacation home. Amended state tax forms Sale or exchange of rental property. Amended state tax forms   For information on how to figure and report any gain or loss from the sale, exchange or other disposition of your rental property, see Publication 544, Sales and Other Dispositions of Assets. Amended state tax forms Sale of main home used as rental property. Amended state tax forms   For information on how to figure and report any gain or loss from the sale or other disposition of your main home that you also used as rental property, see Publication 523, Selling Your Home. Amended state tax forms Tax-free exchange of rental property occasionally used for personal purposes. Amended state tax forms   If you meet certain qualifying use standards, you may qualify for a tax-free exchange (a like-kind or section 1031 exchange) of one piece of rental property you own for a similar piece of rental property, even if you have used the rental property for personal purposes. Amended state tax forms   For information on the qualifying use standards, see Rev. Amended state tax forms Proc. Amended state tax forms 2008–16, 2008 IRB 547, at http://www. Amended state tax forms irs. Amended state tax forms gov/irb/2008-10_IRB/ar12. Amended state tax forms html . Amended state tax forms For more information on like-kind exchanges, see chapter 1 of Publication 544. Amended state tax forms Comments and suggestions. Amended state tax forms   We welcome your comments about this publication and your suggestions for future editions. Amended state tax forms   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Amended state tax forms NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Amended state tax forms Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Amended state tax forms   You can send your comments from www. Amended state tax forms irs. Amended state tax forms gov/formspubs/. Amended state tax forms Click on “More Information” and then on “Comment on Tax Forms and Publications”. Amended state tax forms   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Amended state tax forms Ordering forms and publications. Amended state tax forms   Visit www. Amended state tax forms irs. Amended state tax forms gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Amended state tax forms Internal Revenue Service 1201 N. Amended state tax forms Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Amended state tax forms   If you have a tax question, check the information available on IRS. Amended state tax forms gov or call 1-800-829-1040. Amended state tax forms We cannot answer tax questions sent to either of the above addresses. Amended state tax forms Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 523 Selling Your Home 534 Depreciating Property Placed in Service Before 1987 535 Business Expenses 544 Sales and Other Dispositions of Assets 547 Casualties, Disasters, and Thefts 551 Basis of Assets 925 Passive Activity and At-Risk Rules 946 How To Depreciate Property Form (and Instructions) 4562 Depreciation and Amortization 5213 Election To Postpone Determination as To Whether the Presumption Applies That an Activity Is Engaged in for Profit 8582 Passive Activity Loss Limitations Schedule E (Form 1040) Supplemental Income and Loss   See chapter 6, How To Get Tax Help for information about getting these publications and forms. Amended state tax forms Prev  Up  Next   Home   More Online Publications
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Questions and Answers on the Individual Shared Responsibility Provision


Basic Information

1. What is the individual shared responsibility provision?

Under the Affordable Care Act, the federal government, state governments, insurers, employers and individuals are given shared responsibility to reform and improve the availability, quality and affordability of health insurance coverage in the United States. Starting in 2014, the individual shared responsibility provision calls for each individual to have minimum essential health coverage (known as minimum essential coverage) for each month, qualify for an exemption, or make a payment when filing his or her federal income tax return.

2. Who is subject to the individual shared responsibility provision?

The provision applies to individuals of all ages, including children. The adult or married couple who can claim a child or another individual as a dependent for federal income tax purposes is responsible for making the payment if the dependent does not have coverage or an exemption.

3. When does the individual shared responsibility provision go into effect?

The provision goes into effect on Jan. 1, 2014. It applies to each month in the calendar year. 

4.  Is transition relief available in certain circumstances?

Yes. Notice 2013-42, published on June 26, 2013, provides transition relief from the shared responsibility payment for individuals who are eligible to enroll in eligible employer-sponsored health plans with a plan year other than a calendar year (non-calendar year plans) if the plan year begins in 2013 and ends in 2014 (2013-2014 plan year). The transition relief applies to an employee, or an individual having a relationship to the employee. The transition relief begins in January 2014 and continues through the month in which the 2013-2014 plan year ends.

In addition, Notice 2014-10, published on Jan. 23, 2014, provides transition relief for individuals covered under certain limited-benefit government-sponsored programs. Coverage under these programs is not minimum essential coverage unless it is designated as such by the Department of Health and Human Services. Under Notice 2014-10, individuals who have coverage under these government-sponsored programs will not be held liable for the shared responsibility payment for months in 2014 when they have that coverage. The specific government-sponsored programs are optional family planning coverage of family services under title XIX of the Social Security Act, optional coverage of tuberculosis-related services under title XIX of the Social Security Act, coverage of pregnancy-related services under title XIX of the Social Security Act, coverage limited to treatment of emergency medical conditions (in accordance with section 1611(b)(12)(A) of title 8 of the United States Code) under title XIX of the Social Security Act, coverage for medically needy individuals under title XIX of the Social Security Act, coverage authorized under section 1115(a)(2) of the Social Security Act, limited-benefit TRICARE coverage of space available care provided under chapter 55 of title 10 of the United States Code and limited-benefit TRICARE coverage of line of duty care under chapter 55 of title 10 of the United States Code.  

5. What counts as minimum essential coverage?

Minimum essential coverage includes the following:

  • Employer-sponsored coverage, including self-insured plans, COBRA coverage and retiree coverage
  • Coverage purchased in the individual market, including a qualified health plan offered by the Health Insurance Marketplace 
  • Medicare Part A coverage and Medicare Advantage plans
  • Most Medicaid coverage
  • Children's Health Insurance Program (CHIP) coverage
  • Certain types of veterans health coverage administered by the Veterans Administration
  • Most types of TRICARE coverage under chapter 55 of title 10 of the United States Code
  • Coverage provided to Peace Corps volunteers
  • Coverage under the Nonappropriated Fund Health Benefit Program
  • Refugee Medical Assistance supported by the Administration for Children and Families
  • Self-funded health coverage offered to students by universities for plan or policy years that begin on or before Dec. 31, 2014 (for later plan or policy years, sponsors of these programs may apply to HHS to be recognized as minimum essential coverage)
  • State high risk pools for plan or policy years that begin on or before Dec. 31, 2014 (for later plan or policy years, sponsors of these program may apply to HHS to be recognized as minimum essential coverage)
  • Other coverage recognized by the Secretary of HHS as minimum essential coverage

Minimum essential coverage does not include coverage providing only limited benefits, such as the following:

  • Coverage consisting solely of excepted benefits, such as:
    • Stand-alone vision care or dental care
    • Workers' compensation
    • Accident or disability policies
  • Medicaid providing only family planning services
  • Medicaid providing only tuberculosis-related services
  • Medicaid providing only coverage limited to treatment of emergency medical conditions
  •  Pregnancy-related Medicaid coverage*
  • Medicaid coverage for the medically needy*
  • Section 1115 Medicaid demonstration projects*
  • Space available TRICARE coverage provided under chapter 55 of title 10 of the United States Code for individuals who are not eligible for TRICARE coverage for health care services from private sector providers*
  • Line of duty TRICARE coverage provided under chapter 55 of title 10 of the United States Code*

* These categories of coverage are generally not minimum essential coverage. However, to the extent that certain programs within these categories provide comprehensive coverage, the Secretary of HHS may recognize these programs as minimum essential coverage in the future. The IRS in Notice 2014-10 announced relief from the shared responsibility payment for months in 2014 in which individuals are covered under any of these programs to the extent that they are not minimum essential coverage. Information will be made available later about how the income tax return will take account of coverage under one of these programs. 

6. What are the statutory exemptions from the requirement to obtain minimum essential coverage?

  1. Religious conscience. You are a member of a religious sect that is recognized as conscientiously opposed to accepting any insurance benefits. The Social Security Administration administers the process for recognizing these sects according to the criteria in the law.
  2. Health care sharing ministry. You are a member of a recognized health care sharing ministry.
  3. Indian tribes. You are (1) a member of a federally recognized Indian tribe or (2) an individual eligible for services through an Indian care provider.
  4. Income below the income tax return filing requirement. Your income is below the minimum threshold for filing a tax return. The requirement to file a federal tax return depends on your filing status, age and types and amounts of income. To find out if you are required to file a federal tax return, use the IRS Interactive Tax Assistant (ITA).
  5. Short coverage gap. You went without coverage for less than three consecutive months during the year. For more information, see question 22.
  6. Hardship. You have suffered a hardship that makes you unable to obtain coverage, as defined in final regulations issued by the Department of Health and Human Services. See question 21 for more information on claiming hardship exemptions..
  7. Affordability. You can’t afford coverage because the minimum amount you must pay for the premiums is more than eight percent of your household income.
  8. Incarceration. You are in a jail, prison, or similar penal institution or correctional facility after the disposition of charges against you.
  9. Not lawfully present. You are not a U.S. citizen, a U.S. national or an alien lawfully present in the U.S.

7. What do I need to do if I want to be sure I have minimum essential coverage or an exemption for 2014?

The vast majority of coverage that people have today counts as minimum essential coverage. For those who do not have coverage, who anticipate discontinuing the coverage they have currently, or who want to explore whether more affordable options are available, the Health Insurance Marketplace is open in every state and the District of Columbia. The Marketplace helps individuals compare available coverage options, assess their eligibility for financial assistance and find minimum essential coverage that fits their budget.

For those seeking an exemption from the individual responsibility provision, the Marketplace is able to provide certificates of exemption for many of the exemption categories. HHS has issued final regulations on how the Health Insurance Marketplace grants these exemptions. Individuals will also be able to claim certain exemptions for 2014 when they file their federal income tax returns in 2015. Individuals who are not required to file a federal income tax return because their gross income falls below the return filing threshold do not need to take any further action to secure an exemption. See question 21 for further information on how to claim an exemption.

For more information about the Marketplace, visit the Health Insurance Marketplace website. For more information about financial assistance, see our Questions and Answers on the premium tax credit.

8. Is more detailed information available about the individual shared responsibility provision?

Yes. The Treasury Department and the IRS have issued final regulations on the new individual shared responsibility provision, and the IRS has created an individual shared responsibility page. In addition, the Treasury Department and the IRS have issued proposed regulations, which provide guidance on additional issues that were identified in the preamble to the final regulations. Additional information on exemptions and minimum essential coverage is available in final regulations issued by the Department of Health and Human Services and in a Shared Responsibility Provision Question and Answer issued by the Centers for Medicare & Medicaid Services

Who is Affected?

9. Are children subject to the individual shared responsibility provision?

Yes. Each child must have minimum essential coverage or qualify for an exemption for each month in the calendar year. Otherwise, the adult or married couple who can claim the child as a dependent for federal income tax purposes will generally owe a shared responsibility payment for the child..

10. Are senior citizens subject to the individual shared responsibility provision?

Yes. Senior citizens must have minimum essential coverage or qualify for an exemption for each month in a calendar year. Both Medicare Part A and Medicare Part C (also known as Medicare Advantage) qualify as minimum essential coverage.  

11. Are all individuals living in the United States subject to the individual shared responsibility provision?

All U.S. citizens living in the United States are subject to the individual shared responsibility provision as are all permanent residents and all foreign nationals who are in the United States long enough during a calendar year to qualify as resident aliens for tax purposes. Foreign nationals who live in the United States for a short enough period that they do not become resident aliens for federal income tax purposes are not subject to the individual shared responsibility payment even though they may have to file a U.S. income tax return. The IRS has more information available on when a foreign national becomes a resident alien for federal income tax purposes.

12. Are US citizens living abroad subject to the individual shared responsibility provision?

Yes. However, U.S. citizens who are not physically present in the United States for at least 330 full days within a 12-month period are treated as having minimum essential coverage for that 12-month period. In addition, U.S. citizens who are bona fide residents of a foreign country (or countries) for an entire taxable year are treated as having minimum essential coverage for that year. In general, these are individuals who qualify for a foreign earned income exclusion under section 911 of the Internal Revenue Code. Individuals may qualify for this rule even if they cannot use the exclusion for all of their foreign earned income because, for example, they are employees of the United States. Individuals that qualify for this rule need take no further action to comply with the individual shared responsibility provision during the months when they qualify. See Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad, for further information on the foreign earned income exclusion.  

U.S. citizens who meet neither the physical presence nor residency requirements will need to maintain minimum essential coverage, qualify for an exemption or make a shared responsibility payment for each month of the year. For this purpose, minimum essential coverage includes a group health plan provided by an overseas employer. One exemption that may be particularly relevant to U.S. citizens living abroad for a small part of a year is the exemption for a short coverage gap. This exemption provides that no shared responsibility payment will be due for a once-per-year gap in coverage that lasts less than three months.  

13. Are residents of the territories subject to the individual shared responsibility provision?

All bona fide residents of the United States territories are treated by law as having minimum essential coverage. They are not required to take any action to comply with the individual shared responsibility provision.

Minimum Essential Coverage

14. If I receive my coverage from my spouse’s employer, will I have minimum essential coverage?

Yes. Employer-sponsored coverage is generally minimum essential coverage. (See question 5 for information on specialized types of coverage that are not minimum essential coverage.) If an employee enrolls in employer-sponsored coverage that provides minimum value for himself and his family, the employee and all of the covered family members have minimum essential coverage.

15. Do my spouse and dependent children have to be covered under the same policy or plan that covers me?

No. You, your spouse and your dependent children do not have to be covered under the same policy or plan. However, you, your spouse and each dependent child for whom you may claim a personal exemption on your federal income tax return must have minimum essential coverage or qualify for an exemption, or you will owe a shared responsibility payment when you file a return.

16. My employer tells me that our company’s health plan is “grandfathered.” Does my employer’s plan provide minimum essential coverage?

Yes. Grandfathered group health plans provide minimum essential coverage.

17. I am a retiree, and I am too young to be eligible for Medicare. I receive my health coverage through a retiree plan made available by my former employer. Is the retiree plan minimum essential coverage?

Yes. Retiree health plans are generally minimum essential coverage.

18. I work for a local government that provides me with health coverage. Is my coverage minimum essential coverage?

Yes. Employer-sponsored coverage is minimum essential coverage regardless of whether the employer is a governmental, nonprofit or for-profit entity.

19. Do I have to be covered for an entire calendar month to avoid the shared responsibility payment liability for not having minimum essential coverage for that month?

No. You will be treated as having minimum essential coverage for a month as long as you have coverage for at least one day during that month.

20. If I change health coverage during the year and end up with a gap when I am not covered, will I owe a payment?

Individuals are treated as having minimum essential coverage for a calendar month if they have coverage for at least one day during that month. Additionally, as long as the gap in coverage is less than three months, you may qualify for an exemption and not owe a payment. See question 22 for more information on the exemption for a short coverage gap.

Exemptions

21. If I think I qualify for an exemption, how do I obtain it?

It depends upon the exemption for which you qualify.

  • The religious conscience exemption and most hardship exemptions are available only by going to the Health Insurance Marketplace and applying for an exemption certificate. Information on obtaining these exemptions is available in final rules issued by the Department of Health and Human Services.
  • The exemptions for members of federally recognized Indian tribes, members of health care sharing ministries and individuals who are incarcerated are available either by going to a Marketplace or Exchange and applying for an exemption certificate or by claiming the exemption as part of filing a federal income tax return.
  • The exemptions for lack of affordable coverage, a short coverage gap, certain hardships, household income below the filing threshold and individuals who are not lawfully present in the United States may be claimed only as part of filing a federal income tax return.

22. What qualifies as a short coverage gap?

In general, a gap in coverage that lasts less than three months qualifies as a short coverage gap. If an individual has more than one short coverage gap during a year, the short coverage gap exemption only applies to the first gap.

23. If my income is so low that I am not required to file a federal income tax return, do I need to do anything special to claim an exemption from the individual shared responsibility provision?

No. If you are not required to file a federal income tax return for a year because your gross income is below your return filing threshold, you are automatically exempt from the shared responsibility provision for that year and do not need to take any further action to secure an exemption. If you are not required to file a tax return for a year but file one anyway, you will be able to claim the exemption on your tax return.

24. If I am exempt from the shared responsibility payment, can I still be eligible for the premium tax credit?

In many cases, yes, but it depends upon the exemption. If you are exempt because you are incarcerated or because you are not lawfully present in the United States, you are not eligible to enroll in a qualified health plan through the Marketplace and therefore cannot claim a premium tax credit. However, individuals with other types of exemptions may obtain coverage through the Marketplace and claim a premium tax credit if they otherwise qualify for the credit.

Reporting Coverage or Exemptions or Making Payments

25. Will I have to do something on my federal income tax return to show that I had coverage or an exemption?

The individual shared responsibility provision goes into effect in 2014. You will not have to account for coverage or exemptions or to make any payments until you file your 2014 federal income tax return in 2015. Information will be made available later about how the income tax return will take account of coverage and exemptions. Insurers will be required to provide everyone that they cover each year with information that will help them demonstrate they had coverage beginning with the 2015 tax year.

26. What happens if I do not have minimum essential coverage or an exemption, and I cannot afford to make the shared responsibility payment when filing my tax return?

The IRS routinely works with taxpayers who owe amounts they cannot afford to pay. The law prohibits the IRS from using liens or levies to collect any individual shared responsibility payment. However, if you owe a shared responsibility payment, the IRS may offset that liability against any tax refund that may be due to you.

Page Last Reviewed or Updated: 25-Mar-2014

The Amended State Tax Forms

Amended state tax forms Index A Accelerated Cost Recovery System (ACRS), MACRS Depreciation (see also Modified Accelerated Cost Recovery System (MACRS)) Effective date, Depreciation Methods Accounting methods Accrual method, Accrual method. Amended state tax forms Cash method, Cash method. Amended state tax forms Change of method, Changing your accounting method. Amended state tax forms Constructive receipt of income, Cash method. Amended state tax forms , More information. Amended state tax forms Accrual method taxpayers, Accrual method. Amended state tax forms ACRS (Accelerated Cost Recovery System) Effective date, Depreciation Methods Active participation, Active participation. Amended state tax forms Activities not for profit, Duplex. Amended state tax forms Additions to property, Additions or improvements to property. Amended state tax forms (see also Improvements) Basis, Increases to basis. Amended state tax forms , Additions or improvements. Amended state tax forms MACRS recovery period, Additions or improvements to property. Amended state tax forms Adjusted basis MACRS depreciation, Adjusted Basis Adjusted gross income (AGI) Modified (see Modified adjusted gross income (MAGI)) Advance rent, Advance rent. Amended state tax forms Security deposits, Security deposits. Amended state tax forms Advertising, Types of Expenses Allocation of expenses Change of property to rental use, Payments added to capital account. Amended state tax forms How to divide expenses, Dividing Expenses Part of property rented, Renting Part of Property, How to divide expenses. Amended state tax forms Personal use of rental property, Personal use of rental property. Amended state tax forms , Personal Use of Dwelling Unit (Including Vacation Home) Alternative Depreciation System (ADS) Election of, Electing ADS MACRS, MACRS Depreciation, Table 2-2d. Amended state tax forms Alternative minimum tax (AMT) Accelerated depreciation methods, Alternative minimum tax (AMT). Amended state tax forms Amended returns, Filing an amended return. Amended state tax forms Apartments Basement apartments, Examples. Amended state tax forms Dwelling units, Dwelling unit. Amended state tax forms Appraisal fees, Settlement fees and other costs. Amended state tax forms Assessments for maintenance, Assessments for local improvements. Amended state tax forms Assessments, local (see Local assessments) Assistance (see Tax help) Assumption of mortgage, Assumption of a mortgage. Amended state tax forms Attorneys' fees, Settlement fees and other costs. Amended state tax forms , Increases to basis. Amended state tax forms Automobiles MACRS recovery periods, Property Classes Under GDS B Basis Adjusted basis, Adjusted Basis Assessments for local improvements, Assessments for local improvements. Amended state tax forms Basis other than cost, Basis Other Than Cost Cost basis, Cost Basis Decreases to, Decreases to basis. Amended state tax forms Deductions Capitalization of costs vs. Amended state tax forms , Deducting vs. Amended state tax forms capitalizing costs. Amended state tax forms Not greater than basis, Cost or Other Basis Fully Recovered Fair market value, Fair market value. Amended state tax forms Increases to, Increases to basis. Amended state tax forms MACRS depreciable basis, Basis of Depreciable Property Property changed to rental use, Basis of Property Changed to Rental Use C Capital expenditures Deductions vs. Amended state tax forms effect on basis, Deducting vs. Amended state tax forms capitalizing costs. Amended state tax forms Local benefit taxes, Local benefit taxes. Amended state tax forms Mortgages, payments to obtain, Expenses paid to obtain a mortgage. Amended state tax forms Cars MACRS recovery periods, Property Classes Under GDS Cash method taxpayers, Cash method. Amended state tax forms Casualty losses, Exception for Rental Real Estate With Active Participation Change of accounting method, Changing your accounting method. Amended state tax forms Charitable contributions Use of property, Donation of use of the property. Amended state tax forms Cleaning and maintenance, Types of Expenses Closing costs, Settlement fees and other costs. Amended state tax forms Commissions, Types of Expenses Computers MACRS recovery periods, Property Classes Under GDS Condominiums, Condominiums, Dwelling unit. Amended state tax forms Constructive receipt of income, Cash method. Amended state tax forms , More information. Amended state tax forms Cooperative housing, Cooperative apartments. Amended state tax forms , Cooperatives, Dwelling unit. Amended state tax forms Cost basis, Cost Basis Credit reports, Settlement fees and other costs. Amended state tax forms Credits Residential energy credits, Decreases to basis. Amended state tax forms D Days of personal use, What is a day of personal use? Days used for repairs and maintenance, Days used for repairs and maintenance. Amended state tax forms Deductions Capitalizing costs vs. Amended state tax forms effect on basis, Deducting vs. Amended state tax forms capitalizing costs. Amended state tax forms Depreciation (see Depreciation) Limitations on, Form 4562. Amended state tax forms Passive activity losses (see Passive activity) Depreciation, Depreciation of Rental Property, Changing your accounting method. Amended state tax forms Alternative Depreciation System (ADS) (see Modified Accelerated Cost Recovery System (MACRS)) Basis (see Basis) Change of accounting method, Changing your accounting method. Amended state tax forms Change of property to rental use, Property Changed to Rental Use Claiming correct amount of, Claiming the Correct Amount of Depreciation Declining balance method, Depreciation Methods Duration of property expected to last more than one year, What Rental Property Can Be Depreciated? Eligible property, What Rental Property Can Be Depreciated? First-year expensing, Section 179 deduction. Amended state tax forms MACRS (see Modified Accelerated Cost Recovery System (MACRS)) Methods, Depreciation Methods, Figuring Your Depreciation Deduction Ownership of property, What Rental Property Can Be Depreciated?, Property you own. Amended state tax forms Rental expense, Depreciation. Amended state tax forms Rented property, Rented property. Amended state tax forms Section 179 deduction, Section 179 deduction. Amended state tax forms Special depreciation allowances, Claiming the Special Depreciation Allowance Straight line method, Depreciation Methods Useful life, What Rental Property Can Be Depreciated?, Property having a determinable useful life. Amended state tax forms Vacant rental property, Vacant rental property. Amended state tax forms Discount, bonds and notes issued at (see Original issue discount (OID)) Dividing of expenses (see Allocation of expenses) Dwelling units Definition, Dwelling unit. Amended state tax forms Fair rental price, Fair rental price. Amended state tax forms Personal use of, Personal Use of Dwelling Unit (Including Vacation Home), What is a day of personal use? E Easements, Decreases to basis. Amended state tax forms Equipment rental expense, Rental of equipment. Amended state tax forms F Fair market value (FMV), Fair market value. Amended state tax forms Fair rental price, Dividing Expenses, Fair rental price. Amended state tax forms Fees Loan origination fees, Points, Settlement fees and other costs. Amended state tax forms Points (see Points) Settlement fees and other costs, Settlement fees and other costs. Amended state tax forms Tax return preparation fees, Legal and other professional fees. Amended state tax forms First-year expensing, Section 179 deduction. Amended state tax forms Form 1040 Not rented for profit income, Where to report. Amended state tax forms Part of property rented, Renting Part of Property Rental income and expenses, Reporting Rental Income, Expenses, and Losses Schedule E, Schedule E (Form 1040) Form 1098 Mortgage interest, Form 1098, Mortgage Interest Statement. Amended state tax forms Form 4684 Casualties and thefts, How to report. Amended state tax forms Form 4797 Sales of business property, How to report. Amended state tax forms Form 8582 Passive activity losses, Form 8582. Amended state tax forms , Form 8582 not required. Amended state tax forms Free tax services, Free help with your tax return. Amended state tax forms G Gains and losses At-risk rules, At-Risk Rules Casualty and theft losses, Exception for Rental Real Estate With Active Participation Limits on rental losses, Form 4562. Amended state tax forms Passive activity losses, Passive Activity Limits Rental real estate activities, Exception for Rental Real Estate With Active Participation Sale of rental property, Sale or exchange of rental property. Amended state tax forms , How to report. Amended state tax forms General depreciation system (GDS) (see Modified Accelerated Cost Recovery System (MACRS)) H Help (see Tax help) Home Main home, Main home. Amended state tax forms Use as rental property (see Use of home) I Improvements, Table 1-1. Amended state tax forms Examples of Improvements (see also Repairs) Assessments for local improvements, Assessments for local improvements. Amended state tax forms Basis, Increases to basis. Amended state tax forms , Additions or improvements. Amended state tax forms Depreciation of rented property, Rented property. Amended state tax forms MACRS recovery period, Additions or improvements to property. Amended state tax forms Insurance, Types of Expenses Casualty or theft loss payments, Decreases to basis. Amended state tax forms Change of property to rental use, Property Changed to Rental Use Fire insurance premiums, cost basis, Settlement fees and other costs. Amended state tax forms Part of property rented, Renting Part of Property Premiums paid in advance, Insurance premiums paid in advance. Amended state tax forms Title insurance, cost basis, Settlement fees and other costs. Amended state tax forms Interest payments, Interest expense. Amended state tax forms (see also Mortgages) Loan origination fees, Points Rental expenses, Types of Expenses L Land Cost basis, Separating cost of land and buildings. Amended state tax forms Depreciation, Land. Amended state tax forms Leases Cancellation payments, Canceling a lease. Amended state tax forms Equipment leasing, Rental of equipment. Amended state tax forms Limits Passive activity losses and credits, Passive Activity Limits Rental losses, Limits on Rental Losses Loans Assumption fees, Settlement fees and other costs. Amended state tax forms Charges connected with getting or refinancing, cost basis, Settlement fees and other costs. Amended state tax forms Low or no interest, Loans with low or no interest. Amended state tax forms Origination fees, Points Local assessments, Assessments for local improvements. Amended state tax forms Losses (see Gains and losses) M Missing children, photographs of, Reminders Modified Accelerated Cost Recovery System (MACRS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Additions or improvements to property, Additions or improvements to property. Amended state tax forms Adjusted basis, Adjusted Basis Alternative Depreciation System (ADS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Basis other than cost, Basis Other Than Cost Conventions, Conventions Cost basis, Cost Basis Depreciable basis, Basis of Depreciable Property Effective date, Depreciation Methods Excluded property, Excluded Property General Depreciation System (GDS), MACRS Depreciation, Property Classes Under GDS, Figuring Your Depreciation Deduction Nonresidential rental property, Property Classes Under GDS Property used in rental activities (Table 2-1), Table 2-1. Amended state tax forms MACRS Recovery Periods for Property Used in Rental Activities Recovery periods, Table 2-1. Amended state tax forms MACRS Recovery Periods for Property Used in Rental Activities, 5-, 7-, or 15-year property. Amended state tax forms Residential rental property, Property Classes Under GDS, Residential rental property. Amended state tax forms Special depreciation allowances, Claiming the Special Depreciation Allowance Modified adjusted gross income (MAGI), Modified adjusted gross income (MAGI). Amended state tax forms Mortgages, Expenses paid to obtain a mortgage. Amended state tax forms Assumption of, cost basis, Assumption of a mortgage. Amended state tax forms Change of property to rental use, Property Changed to Rental Use End of, OID, Loan or mortgage ends. Amended state tax forms Interest, Interest expense. Amended state tax forms , Property Changed to Rental Use, Renting Part of Property Mortgage insurance premiums, Settlement fees and other costs. Amended state tax forms Part of property rented, Renting Part of Property N Nonresidential real property, Property Classes Under GDS Not-for-profit activities, Duplex. Amended state tax forms O Original issue discount (OID), Points, Loan or mortgage ends. Amended state tax forms P Part interest Expenses, Part interest. Amended state tax forms Income, Part interest. Amended state tax forms Passive activity Maximum special allowance, Maximum special allowance. Amended state tax forms Personal property Rental income from, Property or services. Amended state tax forms Personal use of rental property, Payments added to capital account. Amended state tax forms , Personal Use of Dwelling Unit (Including Vacation Home) (see also Property changed to rental use) Placed-in-service date, Placed in Service Points, Types of Expenses, Points, Settlement fees and other costs. Amended state tax forms Pre-rental expenses, Pre-rental expenses. Amended state tax forms Principal residence (see Home) Profit, property not rented for, Duplex. Amended state tax forms Property changed to rental use, Payments added to capital account. Amended state tax forms Basis, Basis of Property Changed to Rental Use Publications (see Tax help) R Real estate professionals, Real estate professionals. Amended state tax forms Real estate taxes, Real estate taxes. Amended state tax forms Real property trades or businesses, Real property trades or businesses. Amended state tax forms Recordkeeping requirements Travel and transportation expenses, Local transportation expenses. Amended state tax forms , Travel expenses. Amended state tax forms Recovery periods, Property Classes Under GDS Rent, Settlement fees and other costs. Amended state tax forms Advance rent, Advance rent. Amended state tax forms Fair price, Fair rental price. Amended state tax forms Rental expenses, Rental Expenses Advertising, Types of Expenses Allocation between rental and personal uses, Dividing Expenses Change of property to rental use, Property Changed to Rental Use Cleaning and maintenance, Types of Expenses Commissions, Types of Expenses Depreciation, Depreciation. Amended state tax forms Dwelling unit used as home, Dwelling Unit Used as a Home Equipment rental, Rental of equipment. Amended state tax forms Home, property also used as, Rental of property also used as your home. Amended state tax forms Improvements, Table 1-1. Amended state tax forms Examples of Improvements Insurance, Types of Expenses, Insurance premiums paid in advance. Amended state tax forms Interest payments, Types of Expenses, Interest expense. Amended state tax forms Local transportation expenses, Types of Expenses, Local transportation expenses. Amended state tax forms Part of property rented, Renting Part of Property Points, Types of Expenses, Points Pre-rental expenses, Pre-rental expenses. Amended state tax forms Rental payments, Types of Expenses Repairs, Types of Expenses, Repairs and Improvements Sale of property, Vacant while listed for sale. Amended state tax forms Tax return preparation fees, Legal and other professional fees. Amended state tax forms Taxes, Types of Expenses Tenant, paid by, Expenses paid by tenant. Amended state tax forms Travel expenses, Types of Expenses Utilities, Types of Expenses Vacant rental property, Vacant rental property. Amended state tax forms Rental income Advance rent, Advance rent. Amended state tax forms Cancellation of lease payments, Canceling a lease. Amended state tax forms Dwelling unit used as home, Dwelling Unit Used as a Home Lease with option to buy, Lease with option to buy. Amended state tax forms Not rented for profit, Not Rented for Profit Part interest, Part interest. Amended state tax forms Property received from tenant, Property or services. Amended state tax forms Reporting, Accrual method. Amended state tax forms , Which Forms To Use Security deposit, Security deposits. Amended state tax forms Services received from tenant, Property or services. Amended state tax forms Uncollected rent, Uncollected rent. Amended state tax forms Used as home, Rental of property also used as your home. Amended state tax forms Rental losses, Exception for Rental Real Estate With Active Participation (see also Gains and losses) (see also Passive activity) Repairs, Types of Expenses, Repairs and Improvements (see also Improvements) Assessments for maintenance, Assessments for local improvements. Amended state tax forms Personal use of rental property exception for days used for repairs and maintenance, Days used for repairs and maintenance. Amended state tax forms S Sale of property Expenses, Vacant while listed for sale. Amended state tax forms Gain or loss, Sale or exchange of rental property. Amended state tax forms , How to report. Amended state tax forms Main home, Sale of main home used as rental property. Amended state tax forms Section 179 deductions, Section 179 deduction. Amended state tax forms Security deposits, Security deposits. Amended state tax forms Settlement fees, Settlement fees and other costs. Amended state tax forms Shared equity financing agreements, Shared equity financing agreement. Amended state tax forms Special depreciation allowances, Claiming the Special Depreciation Allowance Spouse Material participation, Participating spouse. Amended state tax forms Standard mileage rates, Local transportation expenses. Amended state tax forms Surveys, Settlement fees and other costs. Amended state tax forms T Tables and figures Improvements, examples of (Table 1-1), Table 1-1. Amended state tax forms Examples of Improvements MACRS optional tables (Table 2-2d), Table 2-2d. Amended state tax forms MACRS optional tables (Tables 2-2a, 2-2b, and 2-2c), Tables 2-2a, 2-2b, and 2-2c. Amended state tax forms MACRS recovery periods for property used in rental activities (Table 2-1), Table 2-1. Amended state tax forms MACRS Recovery Periods for Property Used in Rental Activities Tax credits Residential energy credits, effect on basis, Decreases to basis. Amended state tax forms Tax help, How To Get Tax Help Tax return preparation fees, Legal and other professional fees. Amended state tax forms Taxes Deduction of, Types of Expenses Local benefit taxes, Local benefit taxes. Amended state tax forms Real estate taxes, Real estate taxes. Amended state tax forms Transfer taxes, Settlement fees and other costs. Amended state tax forms Theft losses, Theft. Amended state tax forms Title insurance, Settlement fees and other costs. Amended state tax forms Transfer taxes, Settlement fees and other costs. Amended state tax forms Travel and transportation expenses Local transportation expenses, Types of Expenses, Local transportation expenses. Amended state tax forms Recordkeeping, Travel expenses. Amended state tax forms Rental expenses, Types of Expenses Standard mileage rate, Local transportation expenses. Amended state tax forms U Uncollected rent Income, Uncollected rent. Amended state tax forms Use of home Before or after renting, Days used as a main home before or after renting. Amended state tax forms Change to rental use, Property Changed to Rental Use Days of personal use, What is a day of personal use? Fair rental price, Fair rental price. Amended state tax forms Passive activity rules exception, Exception for Personal Use of Dwelling Unit Personal use as dwelling unit, Personal Use of Dwelling Unit (Including Vacation Home) Utilities, Types of Expenses, Increases to basis. Amended state tax forms V Vacant rental property, Vacant rental property. Amended state tax forms Vacation homes Dwelling unit, Dwelling unit. Amended state tax forms Fair rental price, Fair rental price. Amended state tax forms Personal use of, Personal Use of Dwelling Unit (Including Vacation Home) Valuation Fair market value, Fair market value. Amended state tax forms Prev  Up     Home   More Online Publications