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Form 1040x Amended Return

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Form 1040x Amended Return

Form 1040x amended return 30. Form 1040x amended return   Cómo Calcular los Impuestos Table of Contents Introduction Cómo Calcular los Impuestos Impuesto Mínimo Alternativo (AMT) Impuestos Calculados por el IRS Cómo Presentar la Declaración Introduction Una vez que haya calculado los ingresos y deducciones según se explica en las Partes Uno a Cinco, calcule los impuestos. Form 1040x amended return Este capítulo trata sobre los temas siguientes: Los pasos a seguir para calcular los impuestos, Un impuesto adicional que podría verse obligado a pagar, el cual se denomina “impuesto mínimo alternativo” (AMT, por sus siglas en inglés) y Las condiciones que tiene que cumplir si desea que el IRS le calcule los impuestos. Form 1040x amended return Cómo Calcular los Impuestos El impuesto sobre los ingresos se basa en los ingresos tributables. Form 1040x amended return Después de haber calculado el impuesto sobre los ingresos y el impuesto mínimo alternativo, si lo hubiera, reste los créditos tributarios y sume cualquier otro impuesto adeudado. Form 1040x amended return El resultado es el total de los impuestos. Form 1040x amended return Compare el total de los impuestos con el total de los pagos que ha efectuado para saber si tiene derecho a un reembolso o si tiene que efectuar un pago. Form 1040x amended return Esta sección expone los puntos generales para calcular el impuesto. Form 1040x amended return Puede encontrar instrucciones detalladas en las Instrucciones de los Formularios 1040EZ, 1040A y 1040. Form 1040x amended return Si no está seguro de qué formulario tributario debe presentar, vea ¿Qué Formulario Debo Usar? , en el capítulo 1. Form 1040x amended return Impuestos. Form 1040x amended return   La mayor parte de los contribuyentes utiliza la Tabla de Impuestos o la Hoja de Trabajo para el Cálculo del Impuesto para calcular el impuesto sobre el ingreso. Form 1040x amended return No obstante, existen métodos especiales si los ingresos incluyen cualquiera de los siguientes puntos: Una ganancia neta de capital. Form 1040x amended return (Vea el capítulo 16). Form 1040x amended return Dividendos calificados gravados a la misma tasa que una ganancia neta de capital. Form 1040x amended return (Vea los capítulos 8 y 16). Form 1040x amended return Distribuciones de suma global. Form 1040x amended return (Vea el capítulo 10). Form 1040x amended return Ingresos procedentes de la agricultura o pesca. Form 1040x amended return (Vea el Anexo J del Formulario 1040, Income Averaging for Farmers and Fishermen (Cómo calcular el promedio de ingresos para los agricultores y pescadores), en inglés. Form 1040x amended return Ingresos de inversiones de más de $2,000 para determinados hijos. Form 1040x amended return (Vea el capítulo 31). Form 1040x amended return Elección del padre o de la madre de declarar los intereses y dividendos de un hijo. Form 1040x amended return (Vea el capítulo 31). Form 1040x amended return Exclusión de ingresos devengados en el extranjero o exclusión por concepto de vivienda en el extranjero. Form 1040x amended return (Vea el Formulario 2555, Foreign Earned Income (Ingresos devengados en el extranjero) o el Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingresos devengados en el extranjero) y el Foreign Earned Income Tax Worksheet (Hoja de trabajo para los impuestos sobre ingresos devengados en el extranjero) de las Instrucciones del Formulario 1040), todos en inglés. Form 1040x amended return Créditos. Form 1040x amended return   Luego de haber calculado el impuesto sobre los ingresos y todo impuesto mínimo alternativo (explicado más adelante), verifique si tiene derecho a algún crédito tributario. Form 1040x amended return Puede encontrar información para saber si tiene derecho a estos créditos tributarios en los capítulos 32 al 37 y en las instrucciones de los formularios de impuestos. Form 1040x amended return La tabla a continuación muestra los créditos que tal vez pueda restar del impuesto y le indica en dónde puede encontrar más información sobre cada crédito. Form 1040x amended return CRÉDITOS Para información sobre: Vea el   capítulo: Adopción 37 Vehículo motorizado alternativo 37 Propiedad para reabastecimiento de vehículos con combustible alternativo 37 Cuidado de menores y dependientes 32 Crédito tributario por hijos 34 Crédito para titulares de bonos de crédito tributario 37 Estudios 35 Ancianos o personas incapacitadas 33 Crédito por vehículos eléctricos 37 Impuestos del extranjero 37 Intereses hipotecarios 37 Impuesto mínimo de años anteriores 37 Energía residencial 37 Aportaciones a arreglos de ahorros para la jubilación 37   Hay algunos créditos (como el crédito por ingreso del trabajo) que no aparecen en la lista porque se consideran pagos. Form 1040x amended return Vea Pagos , más adelante. Form 1040x amended return   Existen otros créditos no abordados en esta publicación. Form 1040x amended return Éstos abarcan los siguientes créditos: Crédito general para negocios, el cual se compone de distintos créditos relacionados con los negocios. Form 1040x amended return Éstos suelen declararse en el Formulario 3800, General Business Credit (Crédito general para negocios) y se explican en el capítulo 4 de la Publicación 334, Tax Guide for Small Business (Guía tributaria para pequeños negocios), ambos en inglés. Form 1040x amended return Crédito por producción de electricidad renovable, carbón refinado y carbón de yacimientos en tierras pertenecientes a indios para electricidad y carbón refinado producidos en instalaciones puestas en funcionamiento después del 22 de octubre de 2004 (después del 2 de octubre de 2008, para la electricidad producida mediante la energía hidrocinética renovable y la energía marina renovable) y carbón de yacimientos en tierras pertenecientes a indios producido en instalaciones puestas en funcionamiento después del 8 de agosto de 2005. Form 1040x amended return Vea la Parte II del Formulario 8835, Renewable Electricity, Refined Coal, and Indian Coal Production Credit (Crédito por producción de electricidad renovable, carbón refinado y carbón de yacimientos en tierras pertenecientes a indios), en inglés. Form 1040x amended return Crédito de oportunidad laboral. Form 1040x amended return Vea el Formulario 5884, Work Opportunity Credit (Crédito de oportunidad laboral), en inglés. Form 1040x amended return Crédito por impuestos del Seguro Social y Medicare del empleador pagados sobre ciertas propinas del empleado. Form 1040x amended return Vea el Formulario 8846, Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips (Crédito por impuestos del Seguro Social y del Medicare pagados por el empleador sobre ciertas propinas del empleado), en inglés. Form 1040x amended return Otros impuestos. Form 1040x amended return   Después de haber restado los créditos tributarios, determine si tiene que pagar impuestos adicionales. Form 1040x amended return Este capítulo no explica dichos impuestos adicionales. Form 1040x amended return Esa información aparece en otros capítulos de esta publicación y en las instrucciones de los formularios. Form 1040x amended return Consulte la tabla siguiente para ver otros impuestos que tal vez necesite sumar al impuesto sobre los ingresos. Form 1040x amended return OTROS IMPUESTOS Para información sobre: Vea el   capítulo: Impuestos adicionales sobre planes de jubilación y arreglos IRA calificados 10, 17 Impuestos sobre el empleo de empleados domésticos 32 Recuperación de un crédito para estudios 35 Impuesto del Seguro Social y Medicare sobre el salario 5 Impuesto del Seguro Social y Medicare sobre las propinas 6 Impuestos no retenidos del Seguro Social y Medicare sobre propinas 6   Usted quizás podría verse obligado a pagar el impuesto mínimo alternativo (el cual se explica más adelante en este capítulo). Form 1040x amended return   Existen impuestos adicionales que no se explican en esta publicación. Form 1040x amended return Éstos abarcan lo siguiente: Impuesto sobre el trabajo por cuenta propia. Form 1040x amended return Tiene que calcular este impuesto si cualquiera de las dos condiciones siguientes le corresponde (o a su cónyuge, si usted presenta una declaración conjunta). Form 1040x amended return Tiene ganancias netas provenientes del trabajo por cuenta propia de $400 o más, salvo ingresos de un empleado de una iglesia. Form 1040x amended return El término “ganancias netas provenientes del trabajo por cuenta propia” puede incluir determinada remuneración que no recibió como empleado y otras cantidades detalladas en el Formulario 1099-MISC, Miscellaneous Income (Ingresos misceláneos), en inglés. Form 1040x amended return Si recibió el Formulario 1099-MISC, vea las Instructions for Recipient (Instrucciones para el destinatario), al dorso del mismo. Form 1040x amended return Asimismo, vea las instrucciones del Anexo SE del Formulario 1040, Self-Employment Tax (Impuesto sobre el trabajo por cuenta propia) y la Publicación 334, Tax Guide for Small Business (Guía tributaria para pequeños negocios), ambas en inglés. Form 1040x amended return Recibió ingresos de $108. Form 1040x amended return 28 o más como empleado de una iglesia. Form 1040x amended return Impuesto Adicional del Medicare. Form 1040x amended return Comenzando en el año 2013, usted quizás podría estar sujeto a un Impuesto Adicional del Medicare de 0. Form 1040x amended return 9%, que se le aplica a los salarios sujetos al impuesto Medicare, la remuneración recibida conforme a la Railroad Retirement Act (Ley de Jubilación Ferroviaria) y el ingreso sobre el trabajo por cuenta propia que esté sobre cierta cantidad según su estado civil para efectos de la declaración. Form 1040x amended return Si desea más información, vea las instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8959, ambas disponibles en inglés. Form 1040x amended return Impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). Form 1040x amended return Comenzando en el año 2013, usted quizás podría estar sujeto al impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). Form 1040x amended return El NIIT es un impuesto de 3. Form 1040x amended return 8% sobre la cantidad menor entre el ingreso neto de inversión o la cantidad en exceso de su ingreso bruto ajustado modificado sobre una cantidad límite. Form 1040x amended return Si desea más información, vea las instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8960, ambas disponibles en inglés. Form 1040x amended return Impuestos sobre recuperaciones. Form 1040x amended return Podría verse obligado a pagar estos impuestos si antes ha reclamado un crédito por inversiones, crédito de vivienda para personas de bajos recursos, crédito por mercados nuevos, crédito por vehículos enchufables con motor de dirección eléctrica que reúnen los requisitos, crédito por vehículo motorizado alternativo, crédito por instalaciones para proveer cuidado de niños provistas por el empleador, crédito por empleo de indios estadounidenses u otros créditos enumerados en las instrucciones para la línea 60 del Formulario 1040. Form 1040x amended return Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Form 1040x amended return Impuesto sobre beneficios en exceso de la sección 72(m)(5). Form 1040x amended return Si usted es (o fue) propietario del 5% de un negocio y recibió una distribución superior a los beneficios que se le ofrecen conforme a la fórmula para planes de pensiones o de anualidades calificados, tal vez tenga que pagar este impuesto adicional. Form 1040x amended return Vea Tax on Excess Benefits (Impuesto sobre beneficios en exceso), en el capítulo 4 de la Publicación 560, Retirement Plans for Small Business (Planes de jubilación para pequeños negocios), en inglés. Form 1040x amended return Impuesto del Seguro Social y Medicare sobre el seguro de vida colectivo a término fijo que no fue recaudado. Form 1040x amended return Si su antiguo empleador proveyó más de $50,000 en cobertura de seguro de vida colectivo a término fijo, usted tiene que pagar la parte correspondiente al empleado de los impuestos del Seguro Social y Medicare sobre esas primas. Form 1040x amended return La cantidad debe aparecer en el recuadro 12 del Formulario W-2 con los códigos M y N. Form 1040x amended return Impuestos sobre pagos de contrato blindado. Form 1040x amended return Este impuesto le corresponde si recibió un “pago de contrato blindado en exceso” ( “excess parachute payment” o EPP, por sus siglas en inglés) debido a un cambio de propietario o administración de la empresa. Form 1040x amended return La cantidad de este impuesto debe estar indicada en el recuadro 12 del Formulario W-2 con el código K. Form 1040x amended return Vea las instrucciones para la línea 60 del Formulario 1040. Form 1040x amended return Impuestos sobre distribuciones acumuladas de fideicomisos. Form 1040x amended return Esto le corresponde si es el beneficiario de un fideicomiso que haya acumulado ingresos, en vez de haberlos distribuido a intervalos regulares. Form 1040x amended return Vea el Formulario 4970, Tax on Accumulation Distribution of Trusts (Impuestos sobre distribuciones acumuladas de fideicomisos), y sus instrucciones, en inglés. Form 1040x amended return Impuestos adicionales sobre las cuentas HSA o MSA. Form 1040x amended return Puede que tenga que pagar impuestos adicionales si las cantidades que se han aportado a su cuenta de ahorros para la salud (HSA, por sus siglas en inglés) o su cuenta de ahorros para gastos médicos (MSA, por sus siglas en inglés) o las cantidades que se han distribuido de éstas no cumplen los requisitos correspondientes a dichas cuentas. Form 1040x amended return Vea la Publicación 969, Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para la salud y otros planes para la salud con beneficios tributarios); el Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Cuentas Archer MSA de ahorros médicos y contratos del seguro de cuidado a largo plazo); Formulario 8889, Health Savings Accounts (HSAs) (Cuentas de ahorros médicos (HSA, por sus siglas en inglés)) y el Formulario 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts (Impuestos adicionales sobre planes calificados (incluidos los arreglos IRA) y otras cuentas con beneficios tributarios), todos en inglés. Form 1040x amended return Impuestos adicionales en cuentas Coverdell ESA para estudios. Form 1040x amended return Esto es aplicable si las cantidades que se han aportado a su cuenta Coverdell ESA para estudios o que se han distribuido de la misma no satisfacen los requisitos correspondientes a dichas cuentas. Form 1040x amended return Vea la Publicación 970, Tax Benefits for Education (Prestaciones tributarias para estudios) y el Formulario 5329, ambos en inglés. Form 1040x amended return Impuestos adicionales sobre programas de matrícula calificada. Form 1040x amended return Esto corresponde a cantidades distribuidas de programas de matrícula calificada generales pero que no cumplan los requisitos de dichas cuentas. Form 1040x amended return Vea la Publicación 970 y el Formulario 5329, ambos en inglés. Form 1040x amended return Impuestos sobre artículos de uso y consumo gravados sobre remuneraciones de acciones internas de una empresa expatriada. Form 1040x amended return Tal vez adeude un impuesto sobre artículos de uso y consumo del 15% sobre el valor de opciones de acciones no estatutarias y sobre otra remuneración determinada procedente de las acciones, de las cuales usted o un miembro de su familia es dueño, que es de una empresa expatriada o su grupo ampliado de filiales en las que usted fue ejecutivo, directivo o propietario de más del 10%. Form 1040x amended return Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Form 1040x amended return Impuestos adicionales sobre ingresos recibidos de un plan de remuneración diferida no calificado que no reúna determinados requisitos adicionales. Form 1040x amended return Estos ingresos tienen que aparecer en el recuadro 12 del Formulario W-2, con el código Z o en el recuadro 15b del Formulario 1099-MISC. Form 1040x amended return Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Form 1040x amended return Intereses sobre los impuestos adeudados sobre ingresos de pagos a plazo procedentes de la venta de ciertos terrenos residenciales y multipropiedades. Form 1040x amended return Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Form 1040x amended return Intereses sobre los impuestos diferidos sobre ganancias de ciertas ventas a plazos con precio de venta superior a $150,000. Form 1040x amended return Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Form 1040x amended return Devolución del crédito tributario para comprador de primera vivienda. Form 1040x amended return Si desea más información, vea el Formulario 5405, Repayment of the First-Time Homebuyer Credit (Devolución del crédito tributario para comprador de primera vivienda) y sus instrucciones, disponibles en inglés. Form 1040x amended return Además, vea las instrucciones para la línea 59b del Formulario 1040, en inglés. Form 1040x amended return Pagos. Form 1040x amended return   Después de calcular el impuesto total, calcule el total de los pagos que ya haya efectuado para el año. Form 1040x amended return Incluya los créditos que se tratan como pagos. Form 1040x amended return Este capítulo no explica dichos pagos ni créditos. Form 1040x amended return Esa información aparece en otros capítulos de esta publicación y en las instrucciones de los formularios. Form 1040x amended return Vea la siguiente tabla para saber qué cantidades se pueden incluir en el total de sus pagos. Form 1040x amended return PAGOS Para información sobre: Vea el   capítulo: Crédito tributario por hijos (adicional) 34 Crédito por ingreso del trabajo 36 Impuestos estimados pagados 4 Impuestos de Seguro Social o impuestos de la jubilación ferroviaria retenidos en exceso 37 Retención del impuesto federal sobre los ingresos 4 Crédito tributario por cobertura del seguro médico 37 Crédito por sociedad inversionista reglamentada 37 Impuesto pagado a través de prórroga 1   Otro crédito que se considera un pago es el crédito por concepto del impuesto federal sobre artículos de uso y consumo pagado sobre combustibles. Form 1040x amended return Este crédito es para personas que hagan uso no tributable de determinados combustibles, tales como diésel y keroseno. Form 1040x amended return Se declara en la línea 70 del Formulario 1040. Form 1040x amended return Vea el Formulario 4136, Credit for Federal Tax Paid on Fuels (Crédito por impuestos federales pagados sobre combustibles), en inglés. Form 1040x amended return Reembolso o saldo adeudado. Form 1040x amended return   Para saber si tiene derecho a recibir un reembolso o si tiene que efectuar algún pago, compare el total de los pagos con el total del impuesto. Form 1040x amended return Si tiene derecho a un reembolso, vea las instrucciones del formulario que presentará para saber cómo puede depositar dicho reembolso directamente en una o más de sus cuentas o para comprar bonos de ahorros de los Estados Unidos en vez de recibir un cheque en papel. Form 1040x amended return Impuesto Mínimo Alternativo (AMT) Esta sección explica brevemente el impuesto adicional que podría verse obligado a pagar. Form 1040x amended return La ley tributaria les da un trato especial a determinados tipos de ingresos y permite deducciones y créditos especiales para algunos tipos de gastos. Form 1040x amended return Los contribuyentes que se vean beneficiados por este trato particular podrían estar obligados a pagar al menos una cantidad mínima de impuestos mediante otro impuesto adicional denominado “impuesto mínimo alternativo” (AMT, por sus siglas en inglés). Form 1040x amended return Tal vez tenga que pagar el impuesto mínimo alternativo si sus ingresos tributables para fines tributarios normales, sumados a determinados ajustes y elementos de preferencia tributaria, superan una determinada cantidad. Form 1040x amended return Vea el Formulario 6251, Alternative Minimum Tax — Individuals (Impuesto mínimo alternativo — personas físicas), en inglés. Form 1040x amended return Ajustes y elementos de preferencia tributaria. Form 1040x amended return   Los ajustes más comunes y elementos de preferencia tributaria abarcan los siguientes casos: Inclusión de exenciones personales, Inclusión de la deducción estándar (si ésta se reclamó), Inclusión de deducciones detalladas por concepto de impuestos estatales y locales, determinados intereses, la mayor parte de las deducciones misceláneas y parte de los gastos médicos, Exclusión de todo reembolso de impuestos estatales y locales que se haya incluido en los ingresos brutos, Cambios en la depreciación acelerada de determinados bienes, La diferencia entre ganancias y pérdidas sobre la venta de bienes declarada para fines tributarios normales y del impuesto mínimo alternativo, Inclusión de determinados ingresos procedentes de opciones de compra de acciones con incentivo, Cambio en ciertas deducciones por pérdidas de actividades pasivas, Inclusión de algún valor de agotamiento que sea superior a la base ajustada de los bienes, Inclusión de una parte de la deducción por ciertos gastos de perforación intangibles e Inclusión de intereses exentos de impuestos sobre determinados bonos de una actividad privada. Form 1040x amended return Información adicional. Form 1040x amended return   Para más información acerca del impuesto mínimo alternativo, vea las Instrucciones para el Formulario 6251, en inglés. Form 1040x amended return Impuestos Calculados por el IRS Si presenta la declaración para el 15 de abril de 2014, puede pedir que el IRS le calcule los impuestos en el Formulario 1040EZ, el Formulario 1040A o el Formulario 1040. Form 1040x amended return Si el IRS le calcula los impuestos y usted pagó demasiado, recibirá un reembolso. Form 1040x amended return Si no pagó lo suficiente, recibirá una factura que indique el saldo adeudado. Form 1040x amended return Para no tener que pagar intereses o una multa por pagos morosos, tiene que pagar la factura dentro de 30 días a partir de la fecha de la factura o para la fecha de vencimiento para la presentación de la declaración, la que ocurra más tarde. Form 1040x amended return El IRS también le calcula el crédito para ancianos o personas incapacitadas además del crédito por ingreso del trabajo. Form 1040x amended return Cuándo el IRS no puede calcularle los impuestos. Form 1040x amended return   El IRS no puede calcularle los impuestos si se da alguna de las siguientes condiciones: Desea que el reembolso se deposite directamente en sus cuentas. Form 1040x amended return Desea que alguna parte del reembolso se aplique al impuesto estimado de 2014. Form 1040x amended return Recibió ingresos para el año de fuentes que no sean salarios, sueldos, propinas, intereses, dividendos, beneficios de Seguro Social sujetos a impuestos, compensación por desempleo, distribuciones de un arreglo IRA, pensiones y anualidades. Form 1040x amended return Su ingreso tributable es $100,000 o más. Form 1040x amended return Detalla las deducciones. Form 1040x amended return Presenta cualquiera de los siguientes formularios: Formulario 2555, Foreign Earned Income (Ingresos devengados en el extranjero), en inglés. Form 1040x amended return Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingresos devengados en el extranjero), en inglés. Form 1040x amended return Formulario 4137, Social Security and Medicare Tax on Unreported Tip Income (Impuestos del Seguro Social y Medicare sobre el ingreso de propinas no declaradas), en inglés. Form 1040x amended return Formulario 4970, Tax on Accumulation Distribution of Trusts (Impuesto sobre distribuciones acumuladas de un fideicomiso), en inglés. Form 1040x amended return Formulario 4972, Tax on Lump-Sum Distributions (Impuesto sobre distribuciones de sumas globales), en inglés. Form 1040x amended return Formulario 6198, At-Risk Limitations (Límites sobre el monto en riesgo), en inglés. Form 1040x amended return Formulario 6251, Alternative Minimum Tax—Individuals (Impuesto mínimo alternativo—personas físicas), en inglés. Form 1040x amended return Formulario 8606, Nondeductible IRAs (Arreglos IRA no deducibles), en inglés. Form 1040x amended return Formulario 8615, Tax for Certain Children Who Have Unearned Income (Impuesto para determinados hijos con ingresos no derivados del trabajo), en inglés. Form 1040x amended return Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Decisión de los padres de declarar los intereses y dividendos del hijo), en inglés. Form 1040x amended return Formulario 8839, Qualified Adoption Expenses (Gastos de adopción calificados), en inglés. Form 1040x amended return Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Planes de ahorros para gastos médicos Archer y contratos de seguro para cuidados a largo plazo), en inglés. Form 1040x amended return Formulario 8889, Health Savings Accounts (HSAs) (Cuentas de ahorro para gastos médicos (HSA)), en inglés. Form 1040x amended return Formulario 8919, Uncollected Social Security and Medicare Tax on Wages (Impuestos sobre salarios sujetos al Seguro Social y al Medicare no recaudados), en inglés. Form 1040x amended return Cómo Presentar la Declaración Después de haber completado las líneas del formulario de impuestos que va a presentar, escriba su nombre y dirección. Form 1040x amended return En el espacio provisto, anote su número de Seguro Social. Form 1040x amended return Si es casado, escriba los números de Seguro Social de usted y su cónyuge aun si presenta una declaración por separado. Form 1040x amended return Firme y feche la declaración y escriba su(s) oficio(s). Form 1040x amended return Si presenta una declaración conjunta, usted y su cónyuge tienen que firmarla. Form 1040x amended return En el espacio provisto, anote un número telefónico con su código de área donde ubicarlo durante el día. Form 1040x amended return Esto agilizará la tramitación de su declaración si el IRS tiene una pregunta que puede ser resuelta por teléfono. Form 1040x amended return Si presenta una declaración conjunta de impuestos, anote el número de teléfono donde usted o su cónyuge pueden ser localizados durante el día. Form 1040x amended return Si desea autorizar al IRS para que hable sobre su declaración de impuestos del año 2013 con su amigo, con un miembro de su familia o con cualquier persona que usted elija, marque el recuadro “ Yes ” (Sí) en el área titulada “ Third Party Designee ” (Designación de un tercero) de su declaración de impuestos. Form 1040x amended return También, escriba el nombre del designado, número de teléfono y cualesquier 5 dígitos que el designado elija como su número de identificación personal (PIN, por sus siglas en inglés). Form 1040x amended return Si marca el recuadro “ Yes ” (Sí), usted y su cónyuge, si presentan una declaración conjunta, autoriza(n) a los empleados del IRS a llamar al designado para que éste conteste toda pregunta que surja durante el trámite de su declaración de impuestos. Form 1040x amended return Complete y adjunte a su declaración en papel cualesquier anexo y formulario solicitado en las líneas que usted completó. Form 1040x amended return Adjunte una copia de cada uno de los Formularios W-2 a la declaración en papel. Form 1040x amended return Además, adjunte a su declaración en papel todo Formulario 1099-R recibido que indique retención de impuestos en el recuadro 4. Form 1040x amended return Envíe la declaración al Internal Revenue Service Center (Centro de Servicio del IRS) que corresponda al área donde vive. Form 1040x amended return Una lista de direcciones de Centros de Servicio se halla al final de la publicación y en las instrucciones de su declaración de impuestos. Form 1040x amended return Datos a Incluir en el Formulario 1040EZ Lea las líneas 1 a 8b y llene las líneas que le correspondan. Form 1040x amended return No llene las líneas 9 a 12. Form 1040x amended return Si presenta una declaración conjunta, utilice el espacio a la izquierda de la línea 6 para indicar por separado los ingresos tributables suyos y los de su cónyuge. Form 1040x amended return Pagos. Form 1040x amended return   Anote en la línea 7 todo impuesto federal sobre los ingresos que se le haya retenido. Form 1040x amended return El impuesto federal sobre los ingresos retenido aparece en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099. Form 1040x amended return Crédito por ingreso del trabajo. Form 1040x amended return   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo puede calcular. Form 1040x amended return Escriba “EIC” en el espacio a la izquierda de la línea 8a. Form 1040x amended return Anote en la línea 8b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. Form 1040x amended return   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, quizás tenga que presentar junto con la declaración el Formulario 8862(SP), Información Para Reclamar el Crédito Por Ingreso del Trabajo Después de Haber Sido Denegado (o el Formulario 8862, Information To Claim Earned Income Credit After Disallowance, en inglés). Form 1040x amended return Para detalles adicionales, vea las Instrucciones para el Formulario 1040EZ, en inglés. Form 1040x amended return Datos a Incluir en el Formulario 1040A Lea las líneas 1 a 27 y llene las líneas que le correspondan. Form 1040x amended return Si presenta una declaración conjunta, utilice el espacio a la izquierda de la línea 27 para indicar por separado los ingresos tributables suyos y los de su cónyuge. Form 1040x amended return No llene la línea 28. Form 1040x amended return Llene las líneas 29 a 33 y 36 a 40 si le corresponden. Form 1040x amended return Sin embargo, no llene las líneas 30 ni 38a si desea que el IRS le calcule los créditos indicados en dichas líneas. Form 1040x amended return Además, escriba toda información adicional que le corresponda en el espacio a la izquierda de la línea 41. Form 1040x amended return No llene las líneas 34, 35 ni 42 a la 46. Form 1040x amended return Pagos. Form 1040x amended return   Anote todo impuesto federal retenido sobre los ingresos que se indique en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099, en la línea 36. Form 1040x amended return Anote en la línea 37 todo pago de impuesto estimado que haya efectuado. Form 1040x amended return Crédito por gastos del cuidado de menores y dependientes. Form 1040x amended return   Si puede reclamar este crédito, según se explica en el capítulo 32 , complete el Formulario 2441, Child and Dependent Care Expenses (Gastos del cuidado de menores y dependientes), en inglés, y adjúntelo a su declaración. Form 1040x amended return Anote la cantidad del crédito en la línea 29. Form 1040x amended return El IRS no le calculará este crédito. Form 1040x amended return Crédito para ancianos o personas incapacitadas. Form 1040x amended return   Si puede reclamar este crédito, según se explica en el capítulo 33 , el IRS le calculará este crédito. Form 1040x amended return Escriba “ CFE ” en el espacio a la izquierda de la línea 30 y adjunte el Anexo R del Formulario 1040, Credit for the Elderly or the Disabled (Crédito para ancianos o personas incapacitadas), en inglés, a su declaración de impuestos en papel. Form 1040x amended return En el Anexo R, marque el recuadro de la Parte I correspondiente a su estado civil para efectos de la declaración y edad. Form 1040x amended return Complete la Parte II y las líneas 11 y 13 de la Parte III, si le corresponden. Form 1040x amended return Crédito por ingreso del trabajo. Form 1040x amended return   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo calculará. Form 1040x amended return Anote “EIC” a la izquierda del espacio de la línea 38a. Form 1040x amended return Anote en la línea 38b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. Form 1040x amended return   Si tiene un hijo que le da derecho a este crédito, tiene que llenar el Anexo EIC (Formulario 1040 ó 1040A), Earned Income Credit (Crédito por ingreso del trabajo), en inglés, y adjuntarlo a su declaración en papel. Form 1040x amended return Si no provee el número de Seguro Social de su hijo en la línea 2 del Anexo EIC, el crédito será reducido o denegado a menos que el hijo haya nacido y fallecido en el año 2013. Form 1040x amended return   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, tal vez tenga que presentar junto con la declaración el Formulario 8862(SP) (o el Formulario 8862, en inglés). Form 1040x amended return Para detalles adicionales, vea las Instrucciones para el Formulario 1040A. Form 1040x amended return Datos a Incluir en el Formulario 1040 Lea las líneas 1 a 43 y llene las líneas que le correspondan. Form 1040x amended return No llene la línea 44. Form 1040x amended return Si presenta una declaración conjunta, utilice el espacio bajo las palabras “ Adjusted Gross Income ” (Ingresos brutos ajustados), en la primera página de la declaración para indicar por separado los ingresos tributables suyos y los de su cónyuge. Form 1040x amended return Lea las líneas 45 a la 71. Form 1040x amended return Llene las líneas que le correspondan, pero no llene las líneas 54, 61 ni 72. Form 1040x amended return Además, no complete la línea 55 ni las líneas 73 a 77. Form 1040x amended return No llene el recuadro “ c ” de la línea 53 si completa el Anexo R del Formulario 1040A o 1040, ni la línea 64a si desea que el IRS le calcule los créditos indicados en dichas líneas. Form 1040x amended return Pagos. Form 1040x amended return   Anote todo impuesto federal retenido sobre los ingresos que se indique en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099, en la línea 62. Form 1040x amended return Anote en la línea 63 todo pago de impuesto estimado que haya efectuado. Form 1040x amended return Crédito por gastos del cuidado de menores y dependientes. Form 1040x amended return   Si puede reclamar este crédito, según se explica en el capítulo 32 , complete el Formulario 2441, en inglés, y adjúntelo a su declaración en papel. Form 1040x amended return Anote la cantidad del crédito en la línea 48. Form 1040x amended return El IRS no le calculará este crédito. Form 1040x amended return Crédito para ancianos o personas incapacitadas. Form 1040x amended return   Si puede reclamar este crédito, según se explica en el capítulo 33 , el IRS puede calcularle este crédito. Form 1040x amended return Escriba “CFE” al lado de la línea 53 y marque el recuadro “ c ” y adjunte el Anexo R del Formulario 1040A o 1040 a su declaración en papel. Form 1040x amended return En el Anexo R del Formulario 1040A o 1040, marque el recuadro de la Parte I correspondiente a su estado civil para efectos de la declaración y edad. Form 1040x amended return Complete la Parte II y las líneas 11 y 13 de la Parte III, si le corresponden. Form 1040x amended return Crédito por ingreso del trabajo. Form 1040x amended return   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo calculará. Form 1040x amended return Anote “EIC” en la línea de puntos al lado de la línea 64a del Formulario 1040. Form 1040x amended return Anote en la línea 64b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. Form 1040x amended return   Si tiene un hijo que le dé derecho a este crédito, tiene que llenar el Anexo EIC, Earned Income Credit (Crédito por ingreso del trabajo), en inglés, y adjuntarlo a su declaración en papel. Form 1040x amended return Si no provee el número de Seguro Social de su hijo en la línea 2 del Anexo EIC (Formulario 1040 ó 1040A), el crédito será reducido o denegado a menos que su hijo haya nacido y fallecido en el año 2013. Form 1040x amended return   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, tal vez tenga que presentar junto con la declaración el Formulario 8862(SP), (o el Formulario 8862, en inglés). Form 1040x amended return Para detalles adicionales, vea las Instrucciones para el Formulario 1040, en inglés. Form 1040x amended return Prev  Up  Next   Home   More Online Publications
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The Form 1040x Amended Return

Form 1040x amended return 9. Form 1040x amended return   Rental Income and Expenses Table of Contents Introduction Useful Items - You may want to see: Rental Income Rental ExpensesVacant while listed for sale. Form 1040x amended return Repairs and Improvements Other Expenses Property Changed to Rental Use Renting Part of Property Not Rented for Profit Personal Use of Dwelling Unit (Including Vacation Home)Example. Form 1040x amended return Dividing Expenses Dwelling Unit Used as a Home Reporting Income and Deductions DepreciationChanging your accounting method to deduct unclaimed depreciation. Form 1040x amended return Limits on Rental LossesAt-Risk Rules Passive Activity Limits How To Report Rental Income and ExpensesSchedule E (Form 1040) Introduction This chapter discusses rental income and expenses. Form 1040x amended return It also covers the following topics. Form 1040x amended return Personal use of dwelling unit (including vacation home). Form 1040x amended return Depreciation. Form 1040x amended return Limits on rental losses. Form 1040x amended return How to report your rental income and expenses. Form 1040x amended return If you sell or otherwise dispose of your rental property, see Publication 544, Sales and Other Dispositions of Assets. Form 1040x amended return If you have a loss from damage to, or theft of, rental property, see Publication 547, Casualties, Disasters, and Thefts. Form 1040x amended return If you rent a condominium or a cooperative apartment, some special rules apply to you even though you receive the same tax treatment as other owners of rental property. Form 1040x amended return See Publication 527, Residential Rental Property, for more information. Form 1040x amended return Useful Items - You may want to see: Publication 527 Residential Rental Property 534 Depreciating Property Placed in Service Before 1987 535 Business Expenses 925 Passive Activity and At-Risk Rules 946 How To Depreciate Property Form (and Instructions) 4562 Depreciation and Amortization 6251 Alternative Minimum Tax—Individuals 8582 Passive Activity Loss Limitations Schedule E (Form 1040) Supplemental Income and Loss Rental Income In most cases, you must include in your gross income all amounts you receive as rent. Form 1040x amended return Rental income is any payment you receive for the use or occupation of property. Form 1040x amended return In addition to amounts you receive as normal rent payments, there are other amounts that may be rental income. Form 1040x amended return When to report. Form 1040x amended return   If you are a cash-basis taxpayer, you report rental income on your return for the year you actually or constructively receive it. Form 1040x amended return You are a cash-basis taxpayer if you report income in the year you receive it, regardless of when it was earned. Form 1040x amended return You constructively receive income when it is made available to you, for example, by being credited to your bank account. Form 1040x amended return   For more information about when you constructively receive income, see Accounting Methods in chapter 1. Form 1040x amended return Advance rent. Form 1040x amended return   Advance rent is any amount you receive before the period that it covers. Form 1040x amended return Include advance rent in your rental income in the year you receive it regardless of the period covered or the method of accounting you use. Form 1040x amended return Example. Form 1040x amended return You sign a 10-year lease to rent your property. Form 1040x amended return In the first year, you receive $5,000 for the first year's rent and $5,000 as rent for the last year of the lease. Form 1040x amended return You must include $10,000 in your income in the first year. Form 1040x amended return Canceling a lease. Form 1040x amended return   If your tenant pays you to cancel a lease, the amount you receive is rent. Form 1040x amended return Include the payment in your income in the year you receive it regardless of your method of accounting. Form 1040x amended return Expenses paid by tenant. Form 1040x amended return   If your tenant pays any of your expenses, the payments are rental income. Form 1040x amended return Because you must include this amount in income, you can deduct the expenses if they are deductible rental expenses. Form 1040x amended return See Rental Expenses , later, for more information. Form 1040x amended return Property or services. Form 1040x amended return   If you receive property or services, instead of money, as rent, include the fair market value of the property or services in your rental income. Form 1040x amended return   If the services are provided at an agreed upon or specified price, that price is the fair market value unless there is evidence to the contrary. Form 1040x amended return Security deposits. Form 1040x amended return   Do not include a security deposit in your income when you receive it if you plan to return it to your tenant at the end of the lease. Form 1040x amended return But if you keep part or all of the security deposit during any year because your tenant does not live up to the terms of the lease, include the amount you keep in your income in that year. Form 1040x amended return   If an amount called a security deposit is to be used as a final payment of rent, it is advance rent. Form 1040x amended return Include it in your income when you receive it. Form 1040x amended return Part interest. Form 1040x amended return   If you own a part interest in rental property, you must report your part of the rental income from the property. Form 1040x amended return Rental of property also used as your home. Form 1040x amended return   If you rent property that you also use as your home and you rent it less than 15 days during the tax year, do not include the rent you receive in your income and do not deduct rental expenses. Form 1040x amended return However, you can deduct on Schedule A (Form 1040) the interest, taxes, and casualty and theft losses that are allowed for nonrental property. Form 1040x amended return See Personal Use of Dwelling Unit (Including Vacation Home) , later. Form 1040x amended return Rental Expenses This part discusses expenses of renting property that you ordinarily can deduct from your rental income. Form 1040x amended return It includes information on the expenses you can deduct if you rent part of your property, or if you change your property to rental use. Form 1040x amended return Depreciation , which you can also deduct from your rental income, is discussed later. Form 1040x amended return Personal use of rental property. Form 1040x amended return   If you sometimes use your rental property for personal purposes, you must divide your expenses between rental and personal use. Form 1040x amended return Also, your rental expense deductions may be limited. Form 1040x amended return See Personal Use of Dwelling Unit (Including Vacation Home) , later. Form 1040x amended return Part interest. Form 1040x amended return   If you own a part interest in rental property, you can deduct expenses that you paid according to your percentage of ownership. Form 1040x amended return When to deduct. Form 1040x amended return   If you are a cash-basis taxpayer, you generally deduct your rental expenses in the year you pay them. Form 1040x amended return Depreciation. Form 1040x amended return   You can begin to depreciate rental property when it is ready and available for rent. Form 1040x amended return See Placed-in-Service under When Does Depreciation Begin and End in chapter 2 of Publication 527. Form 1040x amended return Pre-rental expenses. Form 1040x amended return   You can deduct your ordinary and necessary expenses for managing, conserving, or maintaining rental property from the time you make it available for rent. Form 1040x amended return Uncollected rent. Form 1040x amended return   If you are a cash-basis taxpayer, do not deduct uncollected rent. Form 1040x amended return Because you have not included it in your income, it is not deductible. Form 1040x amended return Vacant rental property. Form 1040x amended return   If you hold property for rental purposes, you may be able to deduct your ordinary and necessary expenses (including depreciation) for managing, conserving, or maintaining the property while the property is vacant. Form 1040x amended return However, you cannot deduct any loss of rental income for the period the property is vacant. Form 1040x amended return Vacant while listed for sale. Form 1040x amended return   If you sell property you held for rental purposes, you can deduct the ordinary and necessary expenses for managing, conserving, or maintaining the property until it is sold. Form 1040x amended return If the property is not held out and available for rent while listed for sale, the expenses are not deductible rental expenses. Form 1040x amended return Repairs and Improvements Generally, an expense for repairing or maintaining your rental property may be deducted if you are not required to capitalize the expense. Form 1040x amended return Improvements. Form 1040x amended return   You must capitalize any expense you pay to improve your rental property. Form 1040x amended return An expense is for an improvement if it results in a betterment to your property, restores your property, or adapts your property to a new or different use. Form 1040x amended return Betterments. Form 1040x amended return   Expenses that may result in a betterment to your property include expenses for fixing a pre-existing defect or condition, enlarging or expanding your property, or increasing the capacity, strength, or quality of your property. Form 1040x amended return Restoration. Form 1040x amended return   Expenses that may be for restoration include expenses for replacing a substantial structural part of your property, repairing damage to your property after you properly adjusted the basis of your property as a result of a casualty loss, or rebuilding your property to a like-new condition. Form 1040x amended return Adaptation. Form 1040x amended return   Expenses that may be for adaptation include expenses for altering your property to a use that is not consistent with the intended ordinary use of your property when you began renting the property. Form 1040x amended return Separate the costs of repairs and improvements, and keep accurate records. Form 1040x amended return You will need to know the cost of improvements when you sell or depreciate your property. Form 1040x amended return The expenses you capitalize for improving your property can generally be depreciated as if the improvement were separate property. Form 1040x amended return Other Expenses Other expenses you can deduct from your rental income include advertising, cleaning and maintenance, utilities, fire and liability insurance, taxes, interest, commissions for the collection of rent, ordinary and necessary travel and transportation, and other expenses, discussed next. Form 1040x amended return Insurance premiums paid in advance. Form 1040x amended return   If you pay an insurance premium for more than one year in advance, for each year of coverage you can deduct the part of the premium payment that will apply to that year. Form 1040x amended return You cannot deduct the total premium in the year you pay it. Form 1040x amended return Legal and other professional fees. Form 1040x amended return   You can deduct, as a rental expense, legal and other professional expenses, such as tax return preparation fees you paid to prepare Schedule E (Form 1040), Part I. Form 1040x amended return For example, on your 2013 Schedule E, you can deduct fees paid in 2013 to prepare your 2012 Schedule E, Part I. Form 1040x amended return You can also deduct, as a rental expense, any expense (other than federal taxes and penalties) you paid to resolve a tax underpayment related to your rental activities. Form 1040x amended return Local benefit taxes. Form 1040x amended return   In most cases, you cannot deduct charges for local benefits that increase the value of your property, such as charges for putting in streets, sidewalks, or water and sewer systems. Form 1040x amended return These charges are nondepreciable capital expenditures, and must be added to the basis of your property. Form 1040x amended return However, you can deduct local benefit taxes that are for maintaining, repairing, or paying interest charges for the benefits. Form 1040x amended return Local transportation expenses. Form 1040x amended return    You may be able to deduct your ordinary and necessary local transportation expenses if you incur them to collect rental income or to manage, conserve, or maintain your rental property. Form 1040x amended return However, transportation expenses incurred to travel between your home and a rental property generally constitute nondeductible commuting costs unless you use your home as your principal place of business. Form 1040x amended return See Publication 587, Business Use of Your Home, for information on determining if your home office qualifies as a principal place of business. Form 1040x amended return   Generally, if you use your personal car, pickup truck, or light van for rental activities, you can deduct the expenses using one of two methods: actual expenses or the standard mileage rate. Form 1040x amended return For 2013, the standard mileage rate for business use is 56. Form 1040x amended return 5 cents per mile. Form 1040x amended return For more information, see chapter 26. Form 1040x amended return    To deduct car expenses under either method, you must keep records that follow the rules in chapter 26. Form 1040x amended return In addition, you must complete Form 4562, Part V, and attach it to your tax return. Form 1040x amended return Rental of equipment. Form 1040x amended return   You can deduct the rent you pay for equipment that you use for rental purposes. Form 1040x amended return However, in some cases, lease contracts are actually purchase contracts. Form 1040x amended return If so, you cannot deduct these payments. Form 1040x amended return You can recover the cost of purchased equipment through depreciation. Form 1040x amended return Rental of property. Form 1040x amended return   You can deduct the rent you pay for property that you use for rental purposes. Form 1040x amended return If you buy a leasehold for rental purposes, you can deduct an equal part of the cost each year over the term of the lease. Form 1040x amended return Travel expenses. Form 1040x amended return   You can deduct the ordinary and necessary expenses of traveling away from home if the primary purpose of the trip is to collect rental income or to manage, conserve, or maintain your rental property. Form 1040x amended return You must properly allocate your expenses between rental and nonrental activities. Form 1040x amended return You cannot deduct the cost of traveling away from home if the primary purpose of the trip was to improve your property. Form 1040x amended return You recover the cost of improvements by taking depreciation. Form 1040x amended return For information on travel expenses, see chapter 26. Form 1040x amended return    To deduct travel expenses, you must keep records that follow the rules in chapter 26. Form 1040x amended return   See Rental Expenses in Publication 527 for more information. Form 1040x amended return Property Changed to Rental Use If you change your home or other property (or a part of it) to rental use at any time other than the beginning of your tax year, you must divide yearly expenses, such as taxes and insurance, between rental use and personal use. Form 1040x amended return You can deduct as rental expenses only the part of the expense that is for the part of the year the property was used or held for rental purposes. Form 1040x amended return You cannot deduct depreciation or insurance for the part of the year the property was held for personal use. Form 1040x amended return However, you can include the home mortgage interest, qualified mortgage insurance premiums, and real estate tax expenses for the part of the year the property was held for personal use as an itemized deduction on Schedule A (Form 1040). Form 1040x amended return Example. Form 1040x amended return Your tax year is the calendar year. Form 1040x amended return You moved from your home in May and started renting it out on June 1. Form 1040x amended return You can deduct as rental expenses seven-twelfths of your yearly expenses, such as taxes and insurance. Form 1040x amended return Starting with June, you can deduct as rental expenses the amounts you pay for items generally billed monthly, such as utilities. Form 1040x amended return Renting Part of Property If you rent part of your property, you must divide certain expenses between the part of the property used for rental purposes and the part of the property used for personal purposes, as though you actually had two separate pieces of property. Form 1040x amended return You can deduct the expenses related to the part of the property used for rental purposes, such as home mortgage interest, qualified mortgage insurance premiums, and real estate taxes, as rental expenses on Schedule E (Form 1040). Form 1040x amended return You can also deduct as rental expenses a portion of other expenses that normally are nondeductible personal expenses, such as expenses for electricity or painting the outside of your house. Form 1040x amended return There is no change in the types of expenses deductible for the personal-use part of your property. Form 1040x amended return Generally, these expenses may be deducted only if you itemize your deductions on Schedule A (Form 1040). Form 1040x amended return You cannot deduct any part of the cost of the first phone line even if your tenants have unlimited use of it. Form 1040x amended return You do not have to divide the expenses that belong only to the rental part of your property. Form 1040x amended return For example, if you paint a room that you rent, or if you pay premiums for liability insurance in connection with renting a room in your home, your entire cost is a rental expense. Form 1040x amended return If you install a second phone line strictly for your tenants' use, all of the cost of the second line is deductible as a rental expense. Form 1040x amended return You can deduct depreciation, discussed later, on the part of the house used for rental purposes as well as on the furniture and equipment you use for rental purposes. Form 1040x amended return How to divide expenses. Form 1040x amended return   If an expense is for both rental use and personal use, such as mortgage interest or heat for the entire house, you must divide the expense between the rental use and the personal use. Form 1040x amended return You can use any reasonable method for dividing the expense. Form 1040x amended return It may be reasonable to divide the cost of some items (for example, water) based on the number of people using them. Form 1040x amended return The two most common methods for dividing an expense are based on (1) the number of rooms in your home, and (2) the square footage of your home. Form 1040x amended return Not Rented for Profit If you do not rent your property to make a profit, you can deduct your rental expenses only up to the amount of your rental income. Form 1040x amended return You cannot deduct a loss or carry forward to the next year any rental expenses that are more than your rental income for the year. Form 1040x amended return For more information about the rules for an activity not engaged in for profit, see Not-for-Profit Activities in chapter 1 of Publication 535. Form 1040x amended return Where to report. Form 1040x amended return   Report your not-for-profit rental income on Form 1040, line 21. Form 1040x amended return For example, you can include your mortgage interest and any qualified mortgage insurance premiums (if you use the property as your main home or second home), real estate taxes, and casualty losses on the appropriate lines of Schedule A (Form 1040) if you itemize your deductions. Form 1040x amended return   If you itemize your deductions, claim your other rental expenses, subject to the rules explained in chapter 1 of Publication 535, as miscellaneous itemized deductions on Form 1040, Schedule A, line 23. Form 1040x amended return You can deduct these expenses only if they, together with certain other miscellaneous itemized deductions, total more than 2% of your adjusted gross income. Form 1040x amended return Personal Use of Dwelling Unit (Including Vacation Home) 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. Form 1040x amended return 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. Form 1040x amended return Only your rental expenses may be deducted on Schedule E (Form 1040). Form 1040x amended return Some of your personal expenses may be deductible if you itemize your deductions on Schedule A (Form 1040). Form 1040x amended return You must also determine if the dwelling unit is considered a home. Form 1040x amended return The amount of rental expenses that you can deduct may be limited if the dwelling unit is considered a home. Form 1040x amended return Whether a dwelling unit is considered a home depends on how many days during the year are considered to be days of personal use. Form 1040x amended return 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. Form 1040x amended return Dwelling unit. Form 1040x amended return   A dwelling unit includes a house, apartment, condominium, mobile home, boat, vacation home, or similar property. Form 1040x amended return It also includes all structures or other property belonging to the dwelling unit. Form 1040x amended return A dwelling unit has basic living accommodations, such as sleeping space, a toilet, and cooking facilities. Form 1040x amended return   A dwelling unit does not include property used solely as a hotel, motel, inn, or similar establishment. Form 1040x amended return 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. Form 1040x amended return Example. Form 1040x amended return   You rent a room in your home that is always available for short-term occupancy by paying customers. Form 1040x amended return You do not use the room yourself, and you allow only paying customers to use the room. Form 1040x amended return The room is used solely as a hotel, motel, inn, or similar establishment and is not a dwelling unit. Form 1040x amended return 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. Form 1040x amended return When dividing your expenses, follow these rules. Form 1040x amended return 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. Form 1040x amended return This rule does not apply when determining whether you used the unit as a home. Form 1040x amended return Any day that the unit is available for rent but not actually rented is not a day of rental use. Form 1040x amended return Example. Form 1040x amended return Your beach cottage was available for rent from June 1 through August 31 (92 days). Form 1040x amended return During that time, 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. Form 1040x amended return 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. Form 1040x amended return Your family also used the cottage during the last 2 weeks of May (14 days). Form 1040x amended return The cottage was not used at all before May 17 or after August 31. Form 1040x amended return You figure the part of the cottage expenses to treat as rental expenses as follows. Form 1040x amended return The cottage was used for rental a total of 85 days (92 − 7). Form 1040x amended return The days it was available for rent but not rented (7 days) are not days of rental use. Form 1040x amended return The July weekend (2 days) you used it is rental use because you received a fair rental price for the weekend. Form 1040x amended return You used the cottage for personal purposes for 14 days (the last 2 weeks in May). Form 1040x amended return The total use of the cottage was 99 days (14 days personal use + 85 days rental use). Form 1040x amended return Your rental expenses are 85/99 (86%) of the cottage expenses. Form 1040x amended return Note. Form 1040x amended return 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. Form 1040x amended return Therefore, you had 16 days of personal use and 83 days of rental use for this purpose. Form 1040x amended return 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. Form 1040x amended return If you have a net loss, you may not be able to deduct all of the rental expenses. Form 1040x amended return See Dwelling Unit Used as a Home, next. Form 1040x amended return 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. Form 1040x amended return 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. Form 1040x amended return See What is a day of personal use , later. Form 1040x amended return Fair rental price. Form 1040x amended return   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. Form 1040x amended return 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. Form 1040x amended return   If a dwelling unit is used for personal purposes on a day it is rented at a fair rental price, do not count that day as a day of rental use in applying (2) above. Form 1040x amended return Instead, count it as a day of personal use in applying both (1) and (2) above. Form 1040x amended return 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. Form 1040x amended return You or any other person who has an interest in the unit, unless you rent it to another owner as his or her main home under a shared equity financing agreement (defined later). Form 1040x amended return However, see Days used as a main home before or after renting , later. Form 1040x amended return A member of your family or a member of the family of any other person who owns an interest in the unit, unless the family member uses the dwelling unit as his or her main home and pays a fair rental price. Form 1040x amended return Family includes only your spouse, brothers and sisters, half-brothers and half-sisters, ancestors (parents, grandparents, etc. Form 1040x amended return ), and lineal descendants (children, grandchildren, etc. Form 1040x amended return ). Form 1040x amended return Anyone under an arrangement that lets you use some other dwelling unit. Form 1040x amended return Anyone at less than a fair rental price. Form 1040x amended return Main home. Form 1040x amended return   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. Form 1040x amended return Shared equity financing agreement. Form 1040x amended return   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. Form 1040x amended return Donation of use of property. Form 1040x amended return   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. Form 1040x amended return Examples. Form 1040x amended return   The following examples show how to determine days of personal use. Form 1040x amended return Example 1. Form 1040x amended return You and your neighbor are co-owners of a condominium at the beach. Form 1040x amended return Last year, you rented the unit to vacationers whenever possible. Form 1040x amended return The unit was not used as a main home by anyone. Form 1040x amended return Your neighbor used the unit for 2 weeks last year; you did not use it at all. Form 1040x amended return 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. Form 1040x amended return Example 2. Form 1040x amended return You and your neighbors are co-owners of a house under a shared equity financing agreement. Form 1040x amended return Your neighbors live in the house and pay you a fair rental price. Form 1040x amended return 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. Form 1040x amended return This is because your neighbors rent the house as their main home under a shared equity financing agreement. Form 1040x amended return Example 3. Form 1040x amended return You own a rental property that you rent to your son. Form 1040x amended return Your son does not own any interest in this property. Form 1040x amended return He uses it as his main home and pays you a fair rental price. Form 1040x amended return 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. Form 1040x amended return Example 4. Form 1040x amended return You rent your beach house to Joshua. Form 1040x amended return Joshua rents his cabin in the mountains to you. Form 1040x amended return You each pay a fair rental price. Form 1040x amended return You are using your house for personal purposes on the days that Joshua uses it because your house is used by Joshua under an arrangement that allows you to use his house. Form 1040x amended return Days used for repairs and maintenance. Form 1040x amended return   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. Form 1040x amended return 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. Form 1040x amended return Days used as a main home before or after renting. Form 1040x amended return   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. Form 1040x amended return Do not count them as days of personal use if: You rented or tried to rent the property for 12 or more consecutive months. Form 1040x amended return 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. Form 1040x amended return However, this special rule does not apply when dividing expenses between rental and personal use. Form 1040x amended return Examples. Form 1040x amended return   The following examples show how to determine whether you used your rental property as a home. Form 1040x amended return Example 1. Form 1040x amended return You converted the basement of your home into an apartment with a bedroom, a bathroom, and a small kitchen. Form 1040x amended return You rented the basement apartment at a fair rental price to college students during the regular school year. Form 1040x amended return You rented to them on a 9-month lease (273 days). Form 1040x amended return You figured 10% of the total days rented to others at a fair rental price is 27 days. Form 1040x amended return During June (30 days), your brothers stayed with you and lived in the basement apartment rent free. Form 1040x amended return Your basement apartment was used as a home because you used it for personal purposes for 30 days. Form 1040x amended return Rent-free use by your brothers is considered personal use. Form 1040x amended return Your personal use (30 days) is more than the greater of 14 days or 10% of the total days it was rented (27 days). Form 1040x amended return Example 2. Form 1040x amended return 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). Form 1040x amended return Your sister-in-law stayed in the room, rent free, for the last 3 weeks (21 days) in July. Form 1040x amended return You figured 10% of the total days rented to others at a fair rental price is 3 days. Form 1040x amended return The room was used as a home because you used it for personal purposes for 21 days. Form 1040x amended return That is more than the greater of 14 days or 10% of the 27 days it was rented (3 days). Form 1040x amended return Example 3. Form 1040x amended return You own a condominium apartment in a resort area. Form 1040x amended return You rented it at a fair rental price for a total of 170 days during the year. Form 1040x amended return For 12 of those 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. Form 1040x amended return Your family actually used the apartment for 10 of those days. Form 1040x amended return Therefore, the apartment is treated as having been rented for 160 (170 − 10) days. Form 1040x amended return You figured 10% of the total days rented to others at a fair rental price is 16 days. Form 1040x amended return Your family also used the apartment for 7 other days during the year. Form 1040x amended return You used the apartment as a home because you used it for personal purposes for 17 days. Form 1040x amended return That is more than the greater of 14 days or 10% of the 160 days it was rented (16 days). Form 1040x amended return Minimal rental use. Form 1040x amended return   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. Form 1040x amended return See Used as a home but rented less than 15 days , later, for more information. Form 1040x amended return Limit on deductions. Form 1040x amended return   Renting a dwelling unit that is considered a home is not a passive activity. Form 1040x amended return 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. Form 1040x amended return 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. Form 1040x amended return Any expenses carried forward to the next year will be subject to any limits that apply for that year. Form 1040x amended return 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. Form 1040x amended return   To figure your deductible rental expenses for this year and any carryover to next year, use Worksheet 9-1. Form 1040x amended return Reporting Income and Deductions Property not used for personal purposes. Form 1040x amended return   If you do not use a dwelling unit for personal purposes, see How To Report Rental Income and Expenses , later, for how to report your rental income and expenses. Form 1040x amended return Property used for personal purposes. Form 1040x amended return   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. Form 1040x amended return Not used as a home. Form 1040x amended return   If you use a dwelling unit for personal purposes, but not as a home, report all the rental income in your income. Form 1040x amended return 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 Dividing Expenses . Form 1040x amended return The expenses for personal use are not deductible as rental expenses. Form 1040x amended return   Your deductible rental expenses can be more than your gross rental income; however, see Limits on Rental Losses , later. Form 1040x amended return Used as a home but rented less than 15 days. Form 1040x amended return   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). Form 1040x amended return You are not required to report the rental income and rental expenses from this activity. Form 1040x amended return The expenses, including qualified mortgage interest, property taxes, and any qualified casualty loss will be reported as normally allowed on Schedule A (Form 1040). Form 1040x amended return See the Instructions for Schedule A (Form 1040) for more information on deducting these expenses. Form 1040x amended return Used as a home and rented 15 days or more. Form 1040x amended return   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. Form 1040x amended return 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 Dividing Expenses . Form 1040x amended return The expenses for personal use are not deductible as rental expenses. Form 1040x amended return   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. Form 1040x amended return You do not need to use Worksheet 9-1. Form 1040x amended return   However, if you had a net loss from renting the dwelling unit for the year, your deduction for certain rental expenses is limited. Form 1040x amended return To figure your deductible rental expenses and any carryover to next year, use Worksheet 9-1. Form 1040x amended return Depreciation You recover the cost of income-producing property through yearly tax deductions. Form 1040x amended return You do this by depreciating the property; that is, by deducting some of the cost each year on your tax return. Form 1040x amended return Three factors determine how much depreciation you can deduct each year: (1) your basis in the property, (2) the recovery period for the property, and (3) the depreciation method used. Form 1040x amended return You cannot simply deduct your mortgage or principal payments, or the cost of furniture, fixtures, and equipment, as an expense. Form 1040x amended return You can deduct depreciation only on the part of your property used for rental purposes. Form 1040x amended return Depreciation reduces your basis for figuring gain or loss on a later sale or exchange. Form 1040x amended return You may have to use Form 4562 to figure and report your depreciation. Form 1040x amended return See How To Report Rental Income and Expenses , later. Form 1040x amended return Alternative minimum tax (AMT). Form 1040x amended return    If you use accelerated depreciation, you may be subject to the AMT. Form 1040x amended return Accelerated depreciation allows you to deduct more depreciation earlier in the recovery period than you could deduct using a straight line method (same deduction each year). Form 1040x amended return Claiming the correct amount of depreciation. Form 1040x amended return   You should claim the correct amount of depreciation each tax year. Form 1040x amended return If you did not claim all the depreciation you were entitled to deduct, you must still reduce your basis in the property by the full amount of depreciation that you could have deducted. Form 1040x amended return   If you deducted an incorrect amount of depreciation for property in any year, you may be able to make a correction by filing Form 1040X, Amended U. Form 1040x amended return S Individual Income Tax Return. Form 1040x amended return If you are not allowed to make the correction on an amended return, you can change your accounting method to claim the correct amount of depreciation. Form 1040x amended return See Claiming the correct amount of depreciation in chapter 2 of Publication 527 for more information. Form 1040x amended return Changing your accounting method to deduct unclaimed depreciation. Form 1040x amended return   To change your accounting method, you generally must file Form 3115, Application for Change in Accounting Method, to get the consent of the IRS. Form 1040x amended return In some instances, that consent is automatic. Form 1040x amended return For more information, see chapter 1 of Publication 946. Form 1040x amended return Land. Form 1040x amended return   You cannot depreciate the cost of land because land generally does not wear out, become obsolete, or get used up. Form 1040x amended return The costs of clearing, grading, planting, and landscaping are usually all part of the cost of land and cannot be depreciated. Form 1040x amended return More information. Form 1040x amended return   See Publication 527 for more information about depreciating rental property and see Publication 946 for more information about depreciation. Form 1040x amended return Limits on Rental Losses If you have a loss from your rental real estate activity, two sets of rules may limit the amount of loss you can deduct. Form 1040x amended return You must consider these rules in the order shown below. Form 1040x amended return At-risk rules. Form 1040x amended return These rules are applied first if there is investment in your rental real estate activity for which you are not at risk. Form 1040x amended return This applies only if the real property was placed in service after 1986. Form 1040x amended return Passive activity limits. Form 1040x amended return Generally, rental real estate activities are considered passive activities and losses are not deductible unless you have income from other passive activities to offset them. Form 1040x amended return However, there are exceptions. Form 1040x amended return At-Risk Rules You may be subject to the at-risk rules if you have: A loss from an activity carried on as a trade or business or for the production of income, and Amounts invested in the activity for which you are not fully at risk. Form 1040x amended return Losses from holding real property (other than mineral property) placed in service before 1987 are not subject to the at-risk rules. Form 1040x amended return In most cases, any loss from an activity subject to the at-risk rules is allowed only to the extent of the total amount you have at risk in the activity at the end of the tax year. Form 1040x amended return You are considered at risk in an activity to the extent of cash and the adjusted basis of other property you contributed to the activity and certain amounts borrowed for use in the activity. Form 1040x amended return See Publication 925 for more information. Form 1040x amended return Passive Activity Limits In most cases, all rental real estate activities (except those of certain real estate professionals, discussed later) are passive activities. Form 1040x amended return For this purpose, a rental activity is an activity from which you receive income mainly for the use of tangible property, rather than for services. Form 1040x amended return Limits on passive activity deductions and credits. Form 1040x amended return    Deductions or losses from passive activities are limited. Form 1040x amended return You generally cannot offset income, other than passive income, with losses from passive activities. Form 1040x amended return Nor can you offset taxes on income, other than passive income, with credits resulting from passive activities. Form 1040x amended return Any excess loss or credit is carried forward to the next tax year. Form 1040x amended return   For a detailed discussion of these rules, see Publication 925. Form 1040x amended return    You may have to complete Form 8582 to figure the amount of any passive activity loss for the current tax year for all activities and the amount of the passive activity loss allowed on your tax return. Form 1040x amended return Real estate professionals. Form 1040x amended return   Rental activities in which you materially participated during the year are not passive activities if, for that year, you were a real estate professional. Form 1040x amended return For a detailed discussion of the requirements, see Publication 527. Form 1040x amended return For a detailed discussion of material participation, see Publication 925. Form 1040x amended return Exception for Personal Use of Dwelling Unit If you used the rental property as a home during the year, any income, deductions, gain, or loss allocable to such use shall not be taken into account for purposes of the passive activity loss limitation. Form 1040x amended return Instead, follow the rules explained in Personal Use of Dwelling Unit (Including Vacation Home), earlier. Form 1040x amended return Exception for Rental Real Estate Activities With Active Participation If you or your spouse actively participated in a passive rental real estate activity, you may be able to deduct up to $25,000 of loss from the activity from your nonpassive income. Form 1040x amended return This special allowance is an exception to the general rule disallowing losses in excess of income from passive activities. Form 1040x amended return Similarly, you may be able to offset credits from the activity against the tax on up to $25,000 of nonpassive income after taking into account any losses allowed under this exception. Form 1040x amended return Active participation. Form 1040x amended return   You actively participated in a rental real estate activity if you (and your spouse) owned at least 10% of the rental property and you made management decisions or arranged for others to provide services (such as repairs) in a significant and bona fide sense. Form 1040x amended return Management decisions that may count as active participation include approving new tenants, deciding on rental terms, approving expenditures, and similar decisions. Form 1040x amended return Maximum special allowance. Form 1040x amended return   The maximum special allowance is: $25,000 for single individuals and married individuals filing a joint return for the tax year, $12,500 for married individuals who file separate returns for the tax year and lived apart from their spouses at all times during the tax year, and $25,000 for a qualifying estate reduced by the special allowance for which the surviving spouse qualified. Form 1040x amended return   If your modified adjusted gross income (MAGI) is $100,000 or less ($50,000 or less if married filing separately), you can deduct your loss up to the amount specified above. Form 1040x amended return If your MAGI is more than $100,000 (more than $50,000 if married filing separately), your special allowance is limited to 50% of the difference between $150,000 ($75,000 if married filing separately) and your MAGI. Form 1040x amended return   Generally, if your MAGI is $150,000 or more ($75,000 or more if you are married filing separately), there is no special allowance. Form 1040x amended return More information. Form 1040x amended return   See Publication 925 for more information on the passive loss limits, including information on the treatment of unused disallowed passive losses and credits and the treatment of gains and losses realized on the disposition of a passive activity. Form 1040x amended return How To Report Rental Income and Expenses The basic form for reporting residential rental income and expenses is Schedule E (Form 1040). Form 1040x amended return However, do not use that schedule to report a not-for-profit activity. Form 1040x amended return See Not Rented for Profit, earlier. Form 1040x amended return Providing substantial services. Form 1040x amended return   If you provide substantial services that are primarily for your tenant's convenience, such as regular cleaning, changing linen, or maid service, report your rental income and expenses on Schedule C (Form 1040), Profit or Loss From Business, or Schedule C-EZ (Form 1040), Net Profit From Business (Sole Proprietorship). Form 1040x amended return Substantial services do not include the furnishing of heat and light, cleaning of public areas, trash collection, etc. Form 1040x amended return For information, see Publication 334, Tax Guide for Small Business. Form 1040x amended return You also may have to pay self-employment tax on your rental income using Schedule SE (Form 1040), Self-Employment Tax. Form 1040x amended return   Use Form 1065, U. Form 1040x amended return S. Form 1040x amended return Return of Partnership Income, if your rental activity is a partnership (including a partnership with your spouse unless it is a qualified joint venture). Form 1040x amended return Qualified joint venture. Form 1040x amended return   If you and your spouse each materially participate as the only members of a jointly owned and operated real estate business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership. Form 1040x amended return This election, in most cases, will not increase the total tax owed on the joint return, but it does give each of you credit for social security earnings on which retirement benefits are based and for Medicare coverage if your rental income is subject to self-employment tax. Form 1040x amended return For more information, see Publication 527. Form 1040x amended return Form 1098, Mortgage Interest Statement. Form 1040x amended return    If you paid $600 or more of mortgage interest on your rental property to any one person, you should receive a Form 1098, or similar statement showing the interest you paid for the year. Form 1040x amended return If you and at least one other person (other than your spouse if you file a joint return) were liable for, and paid interest on the mortgage, and the other person received the Form 1098, report your share of the interest on Schedule E (Form 1040), line 13. Form 1040x amended return Attach a statement to your return showing the name and address of the other person. Form 1040x amended return In the left margin of Schedule E, next to line 13, enter “See attached. Form 1040x amended return ” Schedule E (Form 1040) If you rent buildings, rooms, or apartments, and provide basic services such as heat and light, trash collection, etc. Form 1040x amended return , you normally report your rental income and expenses on Schedule E, Part I. Form 1040x amended return List your total income, expenses, and depreciation for each rental property. Form 1040x amended return Be sure to enter the number of fair rental and personal use days on line 2. Form 1040x amended return If you have more than three rental or royalty properties, complete and attach as many Schedules E as are needed to list the properties. Form 1040x amended return Complete lines 1 and 2 for each property. Form 1040x amended return However, fill in lines 23a through 26 on only one Schedule E. Form 1040x amended return On Schedule E, page 1, line 18, enter the depreciation you are claiming for each property. Form 1040x amended return To find out if you need to attach Form 4562, see Form 4562, in chapter 3 of Publication 527. Form 1040x amended return If you have a loss from your rental real estate activity, you also may need to complete one or both of the following forms. Form 1040x amended return Form 6198, At-Risk Limitations. Form 1040x amended return See At-Risk Rules , earlier. Form 1040x amended return Also see Publication 925. Form 1040x amended return Form 8582, Passive Activity Loss Limitations. Form 1040x amended return See Passive Activity Limits , earlier. Form 1040x amended return Page 2 of Schedule E is used to report income or loss from partnerships, S corporations, estates, trusts, and real estate mortgage investment conduits. Form 1040x amended return If you need to use page 2 of Schedule E, be sure to use page 2 of the same Schedule E you used to enter your rental activity on page 1. Form 1040x amended return Also, include the amount from line 26 (Part I) in the “Total income or (loss)” on line 41 (Part V). Form 1040x amended return Worksheet 9-1. Form 1040x amended return 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. Form 1040x amended return Did you use the dwelling unit as a home this year? (See Dwelling Unit Used as a Home . Form 1040x amended return ) 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. Form 1040x amended return Rental Use Percentage A. Form 1040x amended return Total days available for rent at fair rental price A. Form 1040x amended return       B. Form 1040x amended return Total days available for rent (line A) but not rented B. Form 1040x amended return       C. Form 1040x amended return Total days of rental use. Form 1040x amended return Subtract line B from line A C. Form 1040x amended return       D. Form 1040x amended return Total days of personal use (including days rented at less than fair rental price) D. Form 1040x amended return       E. Form 1040x amended return Total days of rental and personal use. Form 1040x amended return Add lines C and D E. Form 1040x amended return       F. Form 1040x amended return Percentage of expenses allowed for rental. Form 1040x amended return Divide line C by line E     F. Form 1040x amended return   PART II. Form 1040x amended return Allowable Rental Expenses 1. Form 1040x amended return Enter rents received 1. Form 1040x amended return   2a. Form 1040x amended return Enter the rental portion of deductible home mortgage interest and qualified mortgage insurance premiums (see instructions) 2a. Form 1040x amended return       b. Form 1040x amended return Enter the rental portion of real estate taxes b. Form 1040x amended return       c. Form 1040x amended return Enter the rental portion of deductible casualty and theft losses (see instructions) c. Form 1040x amended return       d. Form 1040x amended return Enter direct rental expenses (see instructions) d. Form 1040x amended return       e. Form 1040x amended return Fully deductible rental expenses. Form 1040x amended return Add lines 2a–2d. Form 1040x amended return Enter here and  on the appropriate lines on Schedule E (see instructions) 2e. Form 1040x amended return   3. Form 1040x amended return Subtract line 2e from line 1. Form 1040x amended return If zero or less, enter -0- 3. Form 1040x amended return   4a. Form 1040x amended return Enter the rental portion of expenses directly related to operating or maintaining  the dwelling unit (such as repairs, insurance, and utilities) 4a. Form 1040x amended return       b. Form 1040x amended return Enter the rental portion of excess mortgage interest and qualified mortgage insurance premiums (see instructions) b. Form 1040x amended return       c. Form 1040x amended return Carryover of operating expenses from 2012 worksheet c. Form 1040x amended return       d. Form 1040x amended return Add lines 4a–4c d. Form 1040x amended return       e. Form 1040x amended return Allowable expenses. Form 1040x amended return Enter the smaller of line 3 or line 4d (see instructions) 4e. Form 1040x amended return   5. Form 1040x amended return Subtract line 4e from line 3. Form 1040x amended return If zero or less, enter -0- 5. Form 1040x amended return   6a. Form 1040x amended return Enter the rental portion of excess casualty and theft losses (see instructions) 6a. Form 1040x amended return       b. Form 1040x amended return Enter the rental portion of depreciation of the dwelling unit b. Form 1040x amended return       c. Form 1040x amended return Carryover of excess casualty losses and depreciation from 2012 worksheet c. Form 1040x amended return       d. Form 1040x amended return Add lines 6a–6c d. Form 1040x amended return       e. Form 1040x amended return Allowable excess casualty and theft losses and depreciation. Form 1040x amended return Enter the smaller of  line 5 or line 6d (see instructions) 6e. Form 1040x amended return   PART III. Form 1040x amended return Carryover of Unallowed Expenses to Next Year 7a. Form 1040x amended return Operating expenses to be carried over to next year. Form 1040x amended return Subtract line 4e from line 4d 7a. Form 1040x amended return   b. Form 1040x amended return Excess casualty and theft losses and depreciation to be carried over to next year. Form 1040x amended return  Subtract line 6e from line 6d b. Form 1040x amended return   Worksheet 9-1 Instructions. Form 1040x amended return Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Caution. Form 1040x amended return 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. Form 1040x amended return Line 2a. Form 1040x amended return Figure the mortgage interest on the dwelling unit that you could deduct on Schedule A as if you had not rented the unit. Form 1040x amended return Do not include interest on a loan that did not benefit the dwelling unit. Form 1040x amended return 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. Form 1040x amended return Include interest on a loan used to buy, build, or improve the dwelling unit, or to refinance such a loan. Form 1040x amended return Include the rental portion of this interest in the total you enter on line 2a of the worksheet. Form 1040x amended return   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. Form 1040x amended return See the Schedule A instructions. Form 1040x amended return However, figure your adjusted gross income (Form 1040, line 38) without your rental income and expenses from the dwelling unit. Form 1040x amended return See Line 4b to deduct the part of the qualified mortgage insurance premiums not allowed because of the adjusted gross income limit. Form 1040x amended return Include the rental portion of the amount from Schedule A, line 13, in the total you enter on line 2a of the worksheet. Form 1040x amended return   Note. Form 1040x amended return Do not file this Schedule A or use it to figure the amount to deduct on line 13 of that schedule. Form 1040x amended return Instead, figure the personal portion on a separate Schedule A. Form 1040x amended return 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. Form 1040x amended return           Line 2c. Form 1040x amended return 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. Form 1040x amended return To do this, complete Section A of Form 4684, Casualties and Thefts, treating the losses as personal losses. Form 1040x amended return If any of the loss is due to a federally declared disaster, see the Instructions for Form 4684. Form 1040x amended return On Form 4684, line 17, enter 10% of your adjusted gross income figured without your rental income and expenses from the dwelling unit. Form 1040x amended return Enter the rental portion of the result from Form 4684, line 18, on line 2c of this worksheet. Form 1040x amended return   Note. Form 1040x amended return Do not file this Form 4684 or use it to figure your personal losses on Schedule A. Form 1040x amended return Instead, figure the personal portion on a separate Form 4684. Form 1040x amended return           Line 2d. Form 1040x amended return Enter the total of your rental expenses that are directly related only to the rental activity. Form 1040x amended return These include interest on loans used for rental activities other than to buy, build, or improve the dwelling unit. Form 1040x amended return Also include rental agency fees, advertising, office supplies, and depreciation on office equipment used in your rental activity. Form 1040x amended return           Line 2e. Form 1040x amended return 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. Form 1040x amended return Enter the amounts on lines 2a, 2b, 2c, and 2d on the appropriate lines of Schedule E. Form 1040x amended return           Line 4b. Form 1040x amended return On line 2a, you entered the rental portion of the mortgage interest and qualified mortgage insurance premiums you could deduct on Schedule A if you had not rented the dwelling unit. Form 1040x amended return 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. Form 1040x amended return Do not include interest on a loan that did not benefit the dwelling unit (as explained in the line 2a instructions). Form 1040x amended return           Line 4e. Form 1040x amended return 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. Form 1040x amended return *           Line 6a. Form 1040x amended return To find the rental portion of excess casualty and theft losses, use the Form 4684 you prepared for line 2c of this worksheet. Form 1040x amended return   A. Form 1040x amended return Enter the amount from Form 4684, line 10       B. Form 1040x amended return Enter the rental portion of line A       C. Form 1040x amended return Enter the amount from line 2c of this worksheet       D. Form 1040x amended return Subtract line C from line B. Form 1040x amended return Enter the result here and on line 6a of this worksheet               Line 6e. Form 1040x amended return 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. Form 1040x amended return * *Allocating the limited deduction. Form 1040x amended return 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. Form 1040x amended return Enter the amount you allocate to each expense on the appropriate line of Schedule E, Part I. Form 1040x amended return Prev  Up  Next   Home   More Online Publications