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Amended Forms

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Amended Forms

Amended forms Index , Hardest Hit Fund and Emergency Homeowners' Loan Programs. Amended forms , Form 1098. Amended forms , How To Report, Form 1098. Amended forms A Acquisition debt, Fully deductible interest. Amended forms , Home Acquisition Debt, Part of home not a qualified home. Amended forms Alimony, Divorced or separated individuals. Amended forms Amortization Points, General Rule Appraisal fees, Amounts charged for services. Amended forms Armed forces Housing allowance, Ministers' and military housing allowance. Amended forms Assistance (see Tax help) Average mortgage balance, Average Mortgage Balance B Borrowers More than one, More than one borrower. Amended forms Seller-paid points, treatment by buyer, Treatment by buyer. Amended forms Business Average mortgage balance, total amount of interest otherwise allowable to each activity, Line 13 Mortgage proceeds used for, Mortgage proceeds used for business or investment. Amended forms C Clergy Ministers' and military housing allowance, Ministers' and military housing allowance. Amended forms Cooperative housing, Cooperative apartment owner. Amended forms , Cooperative apartment owner. Amended forms , Special Rule for Tenant-Stockholders in Cooperative Housing Corporations, Form 1098. Amended forms Cost of home or improvements, Cost of home or improvements. Amended forms Credits, Mortgage interest credit. Amended forms D Date of mortgage, Date of the mortgage. Amended forms Debt Choice to treat as not secured by home, Choice to treat the debt as not secured by your home. Amended forms Grandfathered, Fully deductible interest. Amended forms , Grandfathered Debt, Line-of-credit mortgage. Amended forms Home acquisition, Fully deductible interest. Amended forms , Home Acquisition Debt Home equity, Fully deductible interest. Amended forms , Home Equity Debt Home equity only (Table 1), Home equity debt only. Amended forms Not secured by home, Debt not secured by home. Amended forms Secured, Secured Debt Deductions, Part I. Amended forms Home Mortgage Interest, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Amended forms Home office, Office in home. Amended forms Mortgage insurance premiums, Claiming your deductible mortgage insurance premiums. Amended forms Points, General Rule, Claiming your deductible points. Amended forms Deed preparation costs, Amounts charged for services. Amended forms Divorced taxpayers, Divorced or separated individuals. Amended forms , Acquiring an interest in a home because of a divorce. Amended forms E Emergency Homeowners' Loan Program, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Amended forms Equity debt, Fully deductible interest. Amended forms , Home Equity Debt, Fair market value (FMV). Amended forms Equity debt only (Table 1), Home equity debt only. Amended forms F Fair market value (FMV), Fair market value (FMV). Amended forms Fees Appraisal, Amounts charged for services. Amended forms Notaries, Amounts charged for services. Amended forms Points (see Points) Figures (see Tables and figures) Form 1040, Schedule A, How To Report, Table 2. Amended forms Where To Deduct Your Interest Expense Form 1040, Schedule C or C-EZ, Table 2. Amended forms Where To Deduct Your Interest Expense Form 1040, Schedule E, Table 2. Amended forms Where To Deduct Your Interest Expense Form 1040, Schedule F, Table 2. Amended forms Where To Deduct Your Interest Expense Form 1098, Form 1098, Mortgage Interest Statement Mortgage insurance premiums, Form 1098. Amended forms Form 8396, Mortgage interest credit. Amended forms Free tax services, Free help with your tax return. Amended forms G Grandfathered debt, Fully deductible interest. Amended forms , Grandfathered Debt, Line-of-credit mortgage. Amended forms Ground rents, Redeemable ground rents. Amended forms H Hardest Hit Fund Program, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Amended forms Help (see Tax help) Home, Publication 936 - Introductory Material Acquisition debt, Fully deductible interest. Amended forms , Home Acquisition Debt Construction, Home under construction. Amended forms Cost of, Cost of home or improvements. Amended forms Destroyed, Home destroyed. Amended forms Divided use, Divided use of your home. Amended forms , Part of home not a qualified home. Amended forms , Part of home not a qualified home. Amended forms Equity debt, Fully deductible interest. Amended forms , Home Equity Debt Equity debt only (Table 1), Home equity debt only. Amended forms Fair market value, Fair market value (FMV). Amended forms Grandfathered debt, Fully deductible interest. Amended forms , Grandfathered Debt, Line-of-credit mortgage. Amended forms Improvement loan, points, Home improvement loan. Amended forms Main, Main home. Amended forms Office in, Office in home. Amended forms Qualified, Qualified Home Renting out part of, Renting out part of home. Amended forms Sale of, Sale of home. Amended forms Second, Second home. Amended forms Time-sharing arrangements, Time-sharing arrangements. Amended forms Housing allowance Ministers and military, Ministers' and military housing allowance. Amended forms I Improvements Cost of, Cost of home or improvements. Amended forms Home acquisition debt, Mortgage treated as used to buy, build, or improve home. Amended forms Points, Home improvement loan. Amended forms Substantial, Substantial improvement. Amended forms Interest, Part I. Amended forms Home Mortgage Interest (see also Mortgage interest) Interest rate method, Interest paid divided by interest rate method. Amended forms Refunded, Refunds of interest. Amended forms , Refunded interest. Amended forms Where to deduct, Table 2. Amended forms Where To Deduct Your Interest Expense Investments Average mortgage balance and total amount of interest allowable, Line 13 Mortgage proceeds used for, Mortgage proceeds invested in tax-exempt securities. Amended forms , Mortgage proceeds used for business or investment. Amended forms J Joint returns, Married taxpayers. Amended forms L Lender mortgage statements, Statements provided by your lender. Amended forms Limits Cooperative housing, mortgage interest deduction, Limits on deduction. Amended forms Deductibility of mortgage insurance premiums, Limit on deduction. Amended forms Deductibility of points, Limits on deduction. Amended forms Home acquisition debt, Home acquisition debt limit. Amended forms Home equity debt, Home equity debt limit. Amended forms Home mortgage interest deduction, Form 1098. Amended forms Qualified loan limit, Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms , Average Mortgage Balance Line-of-credit mortgage, Line-of-credit mortgage. Amended forms Loans, Mortgage proceeds used for business or investment. Amended forms , Mortgage treated as used to buy, build, or improve home. Amended forms (see also Mortgages) Home improvement, points, Home improvement loan. Amended forms Qualified loan limit, Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms M Main home, Main home. Amended forms Married taxpayers, Married taxpayers. Amended forms Military housing allowance, Ministers' and military housing allowance. Amended forms Ministers' housing allowance, Ministers' and military housing allowance. Amended forms Missing children, photographs of, Reminders Mixed-use mortgages, Mixed-use mortgages. Amended forms Mortgage insurance premiums Claiming deductible, Claiming your deductible mortgage insurance premiums. Amended forms Mortgage interest, Publication 936 - Introductory Material, Part I. Amended forms Home Mortgage Interest Cooperative housing, Figuring deductible home mortgage interest. Amended forms Credit, Mortgage interest credit. Amended forms Fully deductible interest, Fully deductible interest. Amended forms Home mortgage interest, Part I. Amended forms Home Mortgage Interest, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Amended forms How to report, How To Report Late payment charges, Late payment charge on mortgage payment. Amended forms Limits on deduction, Part II. Amended forms Limits on Home Mortgage Interest Deduction Ministers' and military housing allowance, Ministers' and military housing allowance. Amended forms Prepaid interest, Prepaid interest. Amended forms , Prepaid interest on Form 1098. Amended forms Prepayment penalty, Mortgage prepayment penalty. Amended forms Refunds, Refunds of interest. Amended forms , Refunded interest. Amended forms Sale of home, Sale of home. Amended forms Special situations, Special Situations Statement, Form 1098, Mortgage Interest Statement Where to deduct, Table 2. Amended forms Where To Deduct Your Interest Expense Worksheet to figure (Table 1), Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms Mortgages Assistance payments (under sec. Amended forms 235 of National Housing Act), Mortgage assistance payments under section 235 of the National Housing Act. Amended forms Average balance, Average Mortgage Balance Date of, Date of the mortgage. Amended forms Ending early, Mortgage ending early. Amended forms Late qualifying, Mortgage that qualifies later. Amended forms Line-of-credit, Line-of-credit mortgage. Amended forms Mixed-use, Mixed-use mortgages. Amended forms Preparation costs for note or deed of trust, Amounts charged for services. Amended forms Proceeds invested in tax-exempt securities, Mortgage proceeds invested in tax-exempt securities. Amended forms Proceeds used for business, Mortgage proceeds used for business or investment. Amended forms Proceeds used for investment, Mortgage proceeds used for business or investment. Amended forms Qualified loan limit, Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms , Average Mortgage Balance Refinanced, Refinancing. Amended forms , Refinanced home acquisition debt. Amended forms , Refinanced grandfathered debt. Amended forms Reverse, Reverse mortgages. Amended forms Statements provided by lender, Statements provided by your lender. Amended forms To buy, build, or improve, Mortgage treated as used to buy, build, or improve home. Amended forms Wraparound, Wraparound mortgage. Amended forms N Nonredeemable ground rents, Nonredeemable ground rents. Amended forms Notary fees, Amounts charged for services. Amended forms O Office in home, Office in home. Amended forms P Penalties Mortgage prepayment, Mortgage prepayment penalty. Amended forms Points, Points, Deduction Allowed in Year Paid, Form 1098. Amended forms Claiming deductible, Claiming your deductible points. Amended forms Exception to general rule, Deduction Allowed in Year Paid Excess, Excess points. Amended forms Funds provided less than, Funds provided are less than points. Amended forms General rule, General Rule Home improvement loans, Home improvement loan. Amended forms Seller paid, Points paid by the seller. Amended forms Prepaid interest, Prepaid interest. Amended forms , Prepaid interest on Form 1098. Amended forms Prepayment penalties, Mortgage prepayment penalty. Amended forms Publications (see Tax help) Q Qualified homes, Qualified Home Qualified loan limit Average mortgage balance, Average Mortgage Balance Worksheet to figure (Table 1), Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms R Redeemable ground rents, Redeemable ground rents. Amended forms Refinancing, Refinancing. Amended forms Grandfathered debt, Refinanced grandfathered debt. Amended forms Home acquisition debt, Refinanced home acquisition debt. Amended forms Refunds, Refunds of interest. Amended forms , Refunded interest. Amended forms Rent Nonredeemable ground rents, Nonredeemable ground rents. Amended forms Redeemable ground rents, Redeemable ground rents. Amended forms Rental payments, Rental payments. Amended forms Renting of home Part of, Renting out part of home. Amended forms Time-sharing arrangements, Rental of time-share. Amended forms Repairs, Substantial improvement. Amended forms Reverse Mortgages, Reverse mortgages. Amended forms S Sale of home, Sale of home. Amended forms Second home, Second home. Amended forms , Deduction Allowed in Year Paid Secured debt, Secured Debt Seller-paid points, Points paid by the seller. Amended forms Separate returns, Separate returns. Amended forms Separated taxpayers, Divorced or separated individuals. Amended forms Spouses, Married taxpayers. Amended forms Statements provided by lender, Statements provided by your lender. Amended forms Stock Cooperative housing, Stock used to secure debt. Amended forms T Tables and figures Deductible home mortgage interest Fully deductible, determination of (Figure A), Fully deductible interest. Amended forms How to figure (Table 1), Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms Mortgage to buy, build, or improve home (Figure C), Mortgage treated as used to buy, build, or improve home. Amended forms Points (Figure B), Points Qualified loan limit worksheet (Table 1), Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms Tax credits, Mortgage interest credit. Amended forms Tax help, How To Get Tax Help Tax-exempt securities Mortgage proceeds invested in, Mortgage proceeds invested in tax-exempt securities. Amended forms Time-sharing arrangements, Time-sharing arrangements. Amended forms V Valuation Fair market value, Fair market value (FMV). Amended forms W Worksheets Deductible home mortgage interest, Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms Qualified loan limit, Table 1. Amended forms Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Amended forms Wraparound mortgages, Wraparound mortgage. Amended forms Prev  Up     Home   More Online Publications
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The Amended Forms

Amended forms 23. Amended forms   Interest Expense Table of Contents Introduction Useful Items - You may want to see: Home Mortgage InterestAmount Deductible Points Mortgage Insurance Premiums Form 1098, Mortgage Interest Statement Investment InterestInvestment Property Allocation of Interest Expense Limit on Deduction Items You Cannot DeductPersonal Interest Allocation of Interest How To ReportMore than one borrower. Amended forms Mortgage proceeds used for business or investment. Amended forms Introduction This chapter discusses what interest expenses you can deduct. Amended forms Interest is the amount you pay for the use of borrowed money. Amended forms The following are types of interest you can deduct as itemized deductions on Schedule A (Form 1040). Amended forms Home mortgage interest, including certain points and mortgage insurance premiums. Amended forms Investment interest. Amended forms This chapter explains these deductions. Amended forms It also explains where to deduct other types of interest and lists some types of interest you cannot deduct. Amended forms Use Table 23-1 to find out where to get more information on various types of interest, including investment interest. Amended forms Useful Items - You may want to see: Publication 936 Home Mortgage Interest Deduction 550 Investment Income and Expenses Home Mortgage Interest Generally, home mortgage interest is any interest you pay on a loan secured by your home (main home or a second home). Amended forms The loan may be a mortgage to buy your home, a second mortgage, a line of credit, or a home equity loan. Amended forms You can deduct home mortgage interest if all the following conditions are met. Amended forms You file Form 1040 and itemize deductions on Schedule A (Form 1040). Amended forms The mortgage is a secured debt on a qualified home in which you have an ownership interest. Amended forms (Generally, your mortgage is a secured debt if you put your home up as collateral to protect the interest of the lender. Amended forms The term “qualified home” means your main home or second home. Amended forms For details, see Publication 936. Amended forms )  Both you and the lender must intend that the loan be repaid. Amended forms Amount Deductible In most cases, you can deduct all of your home mortgage interest. Amended forms How much you can deduct depends on the date of the mortgage, the amount of the mortgage, and how you use the mortgage proceeds. Amended forms Fully deductible interest. Amended forms   If all of your mortgages fit into one or more of the following three categories at all times during the year, you can deduct all of the interest on those mortgages. Amended forms (If any one mortgage fits into more than one category, add the debt that fits in each category to your other debt in the same category. Amended forms )   The three categories are as follows: Mortgages you took out on or before October 13, 1987 (called grandfathered debt). Amended forms Mortgages you took out after October 13, 1987, to buy, build, or improve your home (called home acquisition debt), but only if throughout 2013 these mortgages plus any grandfathered debt totaled $1 million or less ($500,000 or less if married filing separately). Amended forms Mortgages you took out after October 13, 1987, other than to buy, build, or improve your home (called home equity debt), but only if throughout 2013 these mortgages totaled $100,000 or less ($50,000 or less if married filing separately) and totaled no more than the fair market value of your home reduced by (1) and (2). Amended forms The dollar limits for the second and third categories apply to the combined mortgages on your main home and second home. Amended forms   See Part II of Publication 936 for more detailed definitions of grandfathered, home acquisition, and home equity debt. Amended forms    You can use Figure 23-A to check whether your home mortgage interest is fully deductible. Amended forms Figure 23-A. Amended forms Is My Home Mortgage Interest Fully Deductible? Please click here for the text description of the image. Amended forms Figure 23-A. Amended forms Is My Interest Fully Deductible? Limits on deduction. Amended forms   You cannot fully deduct interest on a mortgage that does not fit into any of the three categories listed earlier. Amended forms If this applies to you, see Part II of Publication 936 to figure the amount of interest you can deduct. Amended forms Special Situations This section describes certain items that can be included as home mortgage interest and others that cannot. Amended forms It also describes certain special situations that may affect your deduction. Amended forms Late payment charge on mortgage payment. Amended forms   You can deduct as home mortgage interest a late payment charge if it was not for a specific service performed in connection with your mortgage loan. Amended forms Mortgage prepayment penalty. Amended forms   If you pay off your home mortgage early, you may have to pay a penalty. Amended forms You can deduct that penalty as home mortgage interest provided the penalty is not for a specific service performed or cost incurred in connection with your mortgage loan. Amended forms Sale of home. Amended forms   If you sell your home, you can deduct your home mortgage interest (subject to any limits that apply) paid up to, but not including, the date of sale. Amended forms Example. Amended forms John and Peggy Harris sold their home on May 7. Amended forms Through April 30, they made home mortgage interest payments of $1,220. Amended forms The settlement sheet for the sale of the home showed $50 interest for the 6-day period in May up to, but not including, the date of sale. Amended forms Their mortgage interest deduction is $1,270 ($1,220 + $50). Amended forms Prepaid interest. Amended forms   If you pay interest in advance for a period that goes beyond the end of the tax year, you must spread this interest over the tax years to which it applies. Amended forms You can deduct in each year only the interest that qualifies as home mortgage interest for that year. Amended forms However, there is an exception that applies to points, discussed later. Amended forms Mortgage interest credit. Amended forms   You may be able to claim a mortgage interest credit if you were issued a mortgage credit certificate (MCC) by a state or local government. Amended forms Figure the credit on Form 8396, Mortgage Interest Credit. Amended forms If you take this credit, you must reduce your mortgage interest deduction by the amount of the credit. Amended forms   For more information on the credit, see chapter 37. Amended forms Ministers' and military housing allowance. Amended forms   If you are a minister or a member of the uniformed services and receive a housing allowance that is not taxable, you can still deduct your home mortgage interest. Amended forms Hardest Hit Fund and Emergency Homeowners' Loan Programs. Amended forms   You can use a special method to compute your deduction for mortgage interest and real estate taxes on your main home if you meet the following two conditions. Amended forms You received assistance under: A State Housing Finance Agency (State HFA) Hardest Hit Fund program in which program payments could be used to pay mortgage interest, or An Emergency Homeowners' Loan Program administered by the Department of Housing and Urban Development (HUD) or a state. Amended forms You meet the rules to deduct all of the mortgage interest on your loan and all of the real estate taxes on your main home. Amended forms If you meet these tests, then you can deduct all of the payments you actually made during the year to your mortgage servicer, the State HFA, or HUD on the home mortgage (including the amount shown on box 3 of Form 1098-MA, Mortgage Assistance Payments), but not more than the sum of the amounts shown on Form 1098, Mortgage Interest Statement, in box 1 (mortgage interest received from payer(s) / borrower(s)), box 4 (mortgage insurance premiums) and box 5 (real property taxes). Amended forms However, you are not required to use this special method to compute your deduction for mortgage interest and real estate taxes on your main home. Amended forms Mortgage assistance payments under section 235 of the National Housing Act. Amended forms   If you qualify for mortgage assistance payments for lower-income families under section 235 of the National Housing Act, part or all of the interest on your mortgage may be paid for you. Amended forms You cannot deduct the interest that is paid for you. Amended forms No other effect on taxes. Amended forms   Do not include these mortgage assistance payments in your income. Amended forms Also, do not use these payments to reduce other deductions, such as real estate taxes. Amended forms Divorced or separated individuals. Amended forms   If a divorce or separation agreement requires you or your spouse or former spouse to pay home mortgage interest on a home owned by both of you, the payment of interest may be alimony. Amended forms See the discussion of Payments for jointly-owned home in chapter 18. Amended forms Redeemable ground rents. Amended forms   If you make annual or periodic rental payments on a redeemable ground rent, you can deduct them as mortgage interest. Amended forms   Payments made to end the lease and to buy the lessor's entire interest in the land are not deductible as mortgage interest. Amended forms For more information, see Publication 936. Amended forms Nonredeemable ground rents. Amended forms   Payments on a nonredeemable ground rent are not mortgage interest. Amended forms You can deduct them as rent if they are a business expense or if they are for rental property. Amended forms Reverse mortgages. Amended forms   A reverse mortgage is a loan where the lender pays you (in a lump sum, a monthly advance, a line of credit, or a combination of all three) while you continue to live in your home. Amended forms With a reverse mortgage, you retain title to your home. Amended forms Depending on the plan, your reverse mortgage becomes due with interest when you move, sell your home, reach the end of a pre-selected loan period, or die. Amended forms Because reverse mortgages are considered loan advances and not income, the amount you receive is not taxable. Amended forms Any interest (including original issue discount) accrued on a reverse mortgage is not deductible until the loan is paid in full. Amended forms Your deduction may be limited because a reverse mortgage loan generally is subject to the limit on Home Equity Debt discussed in Publication 936. Amended forms Rental payments. Amended forms   If you live in a house before final settlement on the purchase, any payments you make for that period are rent and not interest. Amended forms This is true even if the settlement papers call them interest. Amended forms You cannot deduct these payments as home mortgage interest. Amended forms Mortgage proceeds invested in tax-exempt securities. Amended forms   You cannot deduct the home mortgage interest on grandfathered debt or home equity debt if you used the proceeds of the mortgage to buy securities or certificates that produce tax-free income. Amended forms “Grandfathered debt” and “home equity debt” are defined earlier under Amount Deductible. Amended forms Refunds of interest. Amended forms   If you receive a refund of interest in the same tax year you paid it, you must reduce your interest expense by the amount refunded to you. Amended forms If you receive a refund of interest you deducted in an earlier year, you generally must include the refund in income in the year you receive it. Amended forms However, you need to include it only up to the amount of the deduction that reduced your tax in the earlier year. Amended forms This is true whether the interest overcharge was refunded to you or was used to reduce the outstanding principal on your mortgage. Amended forms    If you received a refund of interest you overpaid in an earlier year, you generally will receive a Form 1098, Mortgage Interest Statement, showing the refund in box 3. Amended forms For information about Form 1098, see Form 1098, Mortgage Interest Statement , later. Amended forms   For more information on how to treat refunds of interest deducted in earlier years, see Recoveries in chapter 12. Amended forms Points The term “points” is used to describe certain charges paid, or treated as paid, by a borrower to obtain a home mortgage. Amended forms Points may also be called loan origination fees, maximum loan charges, loan discount, or discount points. Amended forms A borrower is treated as paying any points that a home seller pays for the borrower's mortgage. Amended forms See Points paid by the seller , later. Amended forms General Rule You generally cannot deduct the full amount of points in the year paid. Amended forms Because they are prepaid interest, you generally deduct them ratably over the life (term) of the mortgage. Amended forms See Deduction Allowed Ratably , next. Amended forms For exceptions to the general rule, see Deduction Allowed in Year Paid , later. Amended forms Deduction Allowed Ratably If you do not meet the tests listed under Deduction Allowed in Year Paid , later, the loan is not a home improvement loan, or you choose not to deduct your points in full in the year paid, you can deduct the points ratably (equally) over the life of the loan if you meet all the following tests. Amended forms You use the cash method of accounting. Amended forms This means you report income in the year you receive it and deduct expenses in the year you pay them. Amended forms Most individuals use this method. Amended forms Your loan is secured by a home. Amended forms (The home does not need to be your main home. Amended forms ) Your loan period is not more than 30 years. Amended forms If your loan period is more than 10 years, the terms of your loan are the same as other loans offered in your area for the same or longer period. Amended forms Either your loan amount is $250,000 or less, or the number of points is not more than: 4, if your loan period is 15 years or less, or 6, if your loan period is more than 15 years. Amended forms Deduction Allowed in Year Paid You can fully deduct points in the year paid if you meet all the following tests. Amended forms (You can use Figure 23-B as a quick guide to see whether your points are fully deductible in the year paid. Amended forms ) Your loan is secured by your main home. Amended forms (Your main home is the one you ordinarily live in most of the time. Amended forms ) Paying points is an established business practice in the area where the loan was made. Amended forms The points paid were not more than the points generally charged in that area. Amended forms You use the cash method of accounting. Amended forms This means you report income in the year you receive it and deduct expenses in the year you pay them. Amended forms (If you want more information about this method, see Accounting Methods in chapter 1. Amended forms ) The points were not paid in place of amounts that ordinarily are stated separately on the settlement statement, such as appraisal fees, inspection fees, title fees, attorney fees, and property taxes. Amended forms The funds you provided at or before closing, plus any points the seller paid, were at least as much as the points charged. Amended forms The funds you provided are not required to have been applied to the points. Amended forms They can include a down payment, an escrow deposit, earnest money, and other funds you paid at or before closing for any purpose. Amended forms You cannot have borrowed these funds from your lender or mortgage broker. Amended forms You use your loan to buy or build your main home. Amended forms The points were computed as a percentage of the principal amount of the mortgage. Amended forms The amount is clearly shown on the settlement statement (such as the Settlement Statement, Form HUD-1) as points charged for the mortgage. Amended forms The points may be shown as paid from either your funds or the seller's. Amended forms Figure 23-B. Amended forms Are My Points Fully Deductible This Year? Please click here for the text description of the image. Amended forms Figure 23-B. Amended forms Are My Points Fully Deductible This Year? Note. Amended forms If you meet all of these tests, you can choose to either fully deduct the points in the year paid, or deduct them over the life of the loan. Amended forms Home improvement loan. Amended forms   You can also fully deduct in the year paid points paid on a loan to improve your main home, if tests (1) through (6) are met. Amended forms Second home. Amended forms You cannot fully deduct in the year paid points you pay on loans secured by your second home. Amended forms You can deduct these points only over the life of the loan. Amended forms Refinancing. Amended forms   Generally, points you pay to refinance a mortgage are not deductible in full in the year you pay them. Amended forms This is true even if the new mortgage is secured by your main home. Amended forms   However, if you use part of the refinanced mortgage proceeds to improve your main home and you meet the first 6 tests listed under Deduction Allowed in Year Paid , earlier, you can fully deduct the part of the points related to the improvement in the year you paid them with your own funds. Amended forms You can deduct the rest of the points over the life of the loan. Amended forms Example 1. Amended forms In 1998, Bill Fields got a mortgage to buy a home. Amended forms In 2013, Bill refinanced that mortgage with a 15-year $100,000 mortgage loan. Amended forms The mortgage is secured by his home. Amended forms To get the new loan, he had to pay three points ($3,000). Amended forms Two points ($2,000) were for prepaid interest, and one point ($1,000) was charged for services, in place of amounts that ordinarily are stated separately on the settlement statement. Amended forms Bill paid the points out of his private funds, rather than out of the proceeds of the new loan. Amended forms The payment of points is an established practice in the area, and the points charged are not more than the amount generally charged there. Amended forms Bill's first payment on the new loan was due July 1. Amended forms He made six payments on the loan in 2013 and is a cash basis taxpayer. Amended forms Bill used the funds from the new mortgage to repay his existing mortgage. Amended forms Although the new mortgage loan was for Bill's continued ownership of his main home, it was not for the purchase or improvement of that home. Amended forms He cannot deduct all of the points in 2013. Amended forms He can deduct two points ($2,000) ratably over the life of the loan. Amended forms He deducts $67 [($2,000 ÷ 180 months) × 6 payments] of the points in 2013. Amended forms The other point ($1,000) was a fee for services and is not deductible. Amended forms Example 2. Amended forms The facts are the same as in Example 1, except that Bill used $25,000 of the loan proceeds to improve his home and $75,000 to repay his existing mortgage. Amended forms Bill deducts 25% ($25,000 ÷ $100,000) of the points ($2,000) in 2013. Amended forms His deduction is $500 ($2,000 × 25%). Amended forms Bill also deducts the ratable part of the remaining $1,500 ($2,000 − $500) that must be spread over the life of the loan. Amended forms This is $50 [($1,500 ÷ 180 months) × 6 payments] in 2013. Amended forms The total amount Bill deducts in 2013 is $550 ($500 + $50). Amended forms Special Situations This section describes certain special situations that may affect your deduction of points. Amended forms Original issue discount. Amended forms   If you do not qualify to either deduct the points in the year paid or deduct them ratably over the life of the loan, or if you choose not to use either of these methods, the points reduce the issue price of the loan. Amended forms This reduction results in original issue discount, which is discussed in chapter 4 of Publication 535. Amended forms Amounts charged for services. Amended forms   Amounts charged by the lender for specific services connected to the loan are not interest. Amended forms Examples of these charges are: Appraisal fees, Notary fees, and Preparation costs for the mortgage note or deed of trust. Amended forms You cannot deduct these amounts as points either in the year paid or over the life of the mortgage. Amended forms Points paid by the seller. Amended forms   The term “points” includes loan placement fees that the seller pays to the lender to arrange financing for the buyer. Amended forms Treatment by seller. Amended forms   The seller cannot deduct these fees as interest. Amended forms But they are a selling expense that reduces the amount realized by the seller. Amended forms See chapter 15 for information on selling your home. Amended forms Treatment by buyer. Amended forms    The buyer reduces the basis of the home by the amount of the seller-paid points and treats the points as if he or she had paid them. Amended forms If all the tests under Deduction Allowed in Year Paid , earlier, are met, the buyer can deduct the points in the year paid. Amended forms If any of those tests are not met, the buyer deducts the points over the life of the loan. Amended forms   For information about basis, see chapter 13. Amended forms Funds provided are less than points. Amended forms   If you meet all the tests in Deduction Allowed in Year Paid , earlier, except that the funds you provided were less than the points charged to you (test (6)), you can deduct the points in the year paid, up to the amount of funds you provided. Amended forms In addition, you can deduct any points paid by the seller. Amended forms Example 1. Amended forms When you took out a $100,000 mortgage loan to buy your home in December, you were charged one point ($1,000). Amended forms You meet all the tests for deducting points in the year paid, except the only funds you provided were a $750 down payment. Amended forms Of the $1,000 charged for points, you can deduct $750 in the year paid. Amended forms You spread the remaining $250 over the life of the mortgage. Amended forms Example 2. Amended forms The facts are the same as in Example 1, except that the person who sold you your home also paid one point ($1,000) to help you get your mortgage. Amended forms In the year paid, you can deduct $1,750 ($750 of the amount you were charged plus the $1,000 paid by the seller). Amended forms You spread the remaining $250 over the life of the mortgage. Amended forms You must reduce the basis of your home by the $1,000 paid by the seller. Amended forms Excess points. Amended forms   If you meet all the tests in Deduction Allowed in Year Paid , earlier, except that the points paid were more than generally paid in your area (test (3)), you deduct in the year paid only the points that are generally charged. Amended forms You must spread any additional points over the life of the mortgage. Amended forms Mortgage ending early. Amended forms   If you spread your deduction for points over the life of the mortgage, you can deduct any remaining balance in the year the mortgage ends. Amended forms However, if you refinance the mortgage with the same lender, you cannot deduct any remaining balance of spread points. Amended forms Instead, deduct the remaining balance over the term of the new loan. Amended forms    A mortgage may end early due to a prepayment, refinancing, foreclosure, or similar event. Amended forms Example. Amended forms Dan paid $3,000 in points in 2002 that he had to spread out over the 15-year life of the mortgage. Amended forms He deducts $200 points per year. Amended forms Through 2012, Dan has deducted $2,200 of the points. Amended forms Dan prepaid his mortgage in full in 2013. Amended forms He can deduct the remaining $800 of points in 2013. Amended forms Limits on deduction. Amended forms   You cannot fully deduct points paid on a mortgage unless the mortgage fits into one of the categories listed earlier under Fully deductible interest . Amended forms See Publication 936 for details. Amended forms Mortgage Insurance Premiums You can treat amounts you paid during 2013 for qualified mortgage insurance as home mortgage interest. Amended forms The insurance must be in connection with home acquisition debt and the insurance contract must have been issued after 2006. Amended forms Qualified mortgage insurance. Amended forms   Qualified mortgage insurance is mortgage insurance provided by the Department of Veterans Affairs, the Federal Housing Administration, or the Rural Housing Service, and private mortgage insurance (as defined in section 2 of the Homeowners Protection Act of 1998 as in effect on December 20, 2006). Amended forms   Mortgage insurance provided by the Department of Veterans Affairs is commonly known as a funding fee. Amended forms If provided by the Rural Housing Service, it is commonly known as a guarantee fee. Amended forms These fees can be deducted fully in 2013 if the mortgage insurance contract was issued in 2013. Amended forms Contact the mortgage insurance issuer to determine the deductible amount if it is not reported in box 4 of Form 1098. Amended forms Special rules for prepaid mortgage insurance. Amended forms   Generally, if you paid premiums for qualified mortgage insurance that are allocable to periods after the close of the tax year, such premiums are treated as paid in the period to which they are allocated. Amended forms You must allocate the premiums over the shorter of the stated term of the mortgage or 84 months, beginning with the month the insurance was obtained. Amended forms No deduction is allowed for the unamortized balance if the mortgage is satisfied before its term. Amended forms This paragraph does not apply to qualified mortgage insurance provided by the Department of Veterans Affairs or the Rural Housing Service. Amended forms See the Example below. Amended forms Example. Amended forms Ryan purchased a home in May of 2012 and financed the home with a 15-year mortgage. Amended forms Ryan also prepaid all of the $9,240 in private mortgage insurance required at the time of closing in May. Amended forms Since the $9,240 in private mortgage insurance is allocable to periods after 2012, Ryan must allocate the $9,240 over the shorter of the life of the mortgage or 84 months. Amended forms Ryan's adjusted gross income (AGI) for 2012 is $76,000. Amended forms Ryan can deduct $880 ($9,240 ÷ 84 × 8 months) for qualified mortgage insurance premiums in 2012. Amended forms For 2013, Ryan can deduct $1,320 ($9,240 ÷ 84 × 12 months) if his AGI is $100,000 or less. Amended forms In this example, the mortgage insurance premiums are allocated over 84 months, which is shorter than the life of the mortgage of 15 years (180 months). Amended forms Limit on deduction. Amended forms   If your adjusted gross income on Form 1040, line 38, is more than $100,000 ($50,000 if your filing status is married filing separately), the amount of your mortgage insurance premiums that are otherwise deductible is reduced and may be eliminated. Amended forms See Line 13 in the instructions for Schedule A (Form 1040) and complete the Mortgage Insurance Premiums Deduction Worksheet to figure the amount you can deduct. Amended forms If your adjusted gross income is more than $109,000 ($54,500 if married filing separately), you cannot deduct your mortgage insurance premiums. Amended forms Form 1098, Mortgage Interest Statement If you paid $600 or more of mortgage interest (including certain points and mortgage insurance premiums) during the year on any one mortgage, you generally will receive a Form 1098 or a similar statement from the mortgage holder. Amended forms You will receive the statement if you pay interest to a person (including a financial institution or a cooperative housing corporation) in the course of that person's trade or business. Amended forms A governmental unit is a person for purposes of furnishing the statement. Amended forms The statement for each year should be sent to you by January 31 of the following year. Amended forms A copy of this form will also be sent to the IRS. Amended forms The statement will show the total interest you paid during the year, any mortgage insurance premiums you paid, and if you purchased a main home during the year, it also will show the deductible points paid during the year, including seller-paid points. Amended forms However, it should not show any interest that was paid for you by a government agency. Amended forms As a general rule, Form 1098 will include only points that you can fully deduct in the year paid. Amended forms However, certain points not included on Form 1098 also may be deductible, either in the year paid or over the life of the loan. Amended forms See Points , earlier, to determine whether you can deduct points not shown on Form 1098. Amended forms Prepaid interest on Form 1098. Amended forms   If you prepaid interest in 2013 that accrued in full by January 15, 2014, this prepaid interest may be included in box 1 of Form 1098. Amended forms However, you cannot deduct the prepaid amount for January 2014 in 2013. Amended forms (See Prepaid interest , earlier. Amended forms ) You will have to figure the interest that accrued for 2014 and subtract it from the amount in box 1. Amended forms You will include the interest for January 2014 with the other interest you pay for 2014. Amended forms See How To Report , later. Amended forms Refunded interest. Amended forms   If you received a refund of mortgage interest you overpaid in an earlier year, you generally will receive a Form 1098 showing the refund in box 3. Amended forms See Refunds of interest , earlier. Amended forms Mortgage insurance premiums. Amended forms   The amount of mortgage insurance premiums you paid during 2013 may be shown in box 4 of Form 1098. Amended forms See Mortgage Insurance Premiums, earlier. Amended forms Investment Interest This section discusses interest expenses you may be able to deduct as an investor. Amended forms If you borrow money to buy property you hold for investment, the interest you pay is investment interest. Amended forms You can deduct investment interest subject to the limit discussed later. Amended forms However, you cannot deduct interest you incurred to produce tax-exempt income. Amended forms Nor can you deduct interest expenses on straddles. Amended forms Investment interest does not include any qualified home mortgage interest or any interest taken into account in computing income or loss from a passive activity. Amended forms Investment Property Property held for investment includes property that produces interest, dividends, annuities, or royalties not derived in the ordinary course of a trade or business. Amended forms It also includes property that produces gain or loss (not derived in the ordinary course of a trade or business) from the sale or trade of property producing these types of income or held for investment (other than an interest in a passive activity). Amended forms Investment property also includes an interest in a trade or business activity in which you did not materially participate (other than a passive activity). Amended forms Partners, shareholders, and beneficiaries. Amended forms   To determine your investment interest, combine your share of investment interest from a partnership, S corporation, estate, or trust with your other investment interest. Amended forms Allocation of Interest Expense If you borrow money for business or personal purposes as well as for investment, you must allocate the debt among those purposes. Amended forms Only the interest expense on the part of the debt used for investment purposes is treated as investment interest. Amended forms The allocation is not affected by the use of property that secures the debt. Amended forms Limit on Deduction Generally, your deduction for investment interest expense is limited to the amount of your net investment income. Amended forms You can carry over the amount of investment interest that you could not deduct because of this limit to the next tax year. Amended forms The interest carried over is treated as investment interest paid or accrued in that next year. Amended forms You can carry over disallowed investment interest to the next tax year even if it is more than your taxable income in the year the interest was paid or accrued. Amended forms Net Investment Income Determine the amount of your net investment income by subtracting your investment expenses (other than interest expense) from your investment income. Amended forms Investment income. Amended forms    This generally includes your gross income from property held for investment (such as interest, dividends, annuities, and royalties). Amended forms Investment income does not include Alaska Permanent Fund dividends. Amended forms It also does not include qualified dividends or net capital gain unless you choose to include them. Amended forms Choosing to include qualified dividends. Amended forms   Investment income generally does not include qualified dividends, discussed in chapter 8. Amended forms However, you can choose to include all or part of your qualified dividends in investment income. Amended forms   You make this choice by completing Form 4952, line 4g, according to its instructions. Amended forms   If you choose to include any amount of your qualified dividends in investment income, you must reduce your qualified dividends that are eligible for the lower capital gains tax rates by the same amount. Amended forms Choosing to include net capital gain. Amended forms   Investment income generally does not include net capital gain from disposing of investment property (including capital gain distributions from mutual funds). Amended forms However, you can choose to include all or part of your net capital gain in investment income. Amended forms    You make this choice by completing Form 4952, line 4g, according to its instructions. Amended forms   If you choose to include any amount of your net capital gain in investment income, you must reduce your net capital gain that is eligible for the lower capital gains tax rates by the same amount. Amended forms    Before making either choice, consider the overall effect on your tax liability. Amended forms Compare your tax if you make one or both of these choices with your tax if you do not. Amended forms Investment income of child reported on parent's return. Amended forms    Investment income includes the part of your child's interest and dividend income that you choose to report on your return. Amended forms If the child does not have qualified dividends, Alaska Permanent Fund dividends, or capital gain distributions, this is the amount on line 6 of Form 8814, Parents' Election To Report Child's Interest and Dividends. Amended forms Child's qualified dividends. Amended forms   If part of the amount you report is your child's qualified dividends, that part (which is reported on Form 1040, line 9b) generally does not count as investment income. Amended forms However, you can choose to include all or part of it in investment income, as explained under Choosing to include qualified dividends , earlier. Amended forms   Your investment income also includes the amount on Form 8814, line 12 (or, if applicable, the reduced amount figured next under Child's Alaska Permanent Fund dividends). Amended forms Child's Alaska Permanent Fund dividends. Amended forms   If part of the amount you report is your child's Alaska Permanent Fund dividends, that part does not count as investment income. Amended forms To figure the amount of your child's income that you can consider your investment income, start with the amount on Form 8814, line 6. Amended forms Multiply that amount by a percentage that is equal to the Alaska Permanent Fund dividends divided by the total amount on Form 8814, line 4. Amended forms Subtract the result from the amount on Form 8814, line 12. Amended forms Child's capital gain distributions. Amended forms    If part of the amount you report is your child's capital gain distributions, that part (which is reported on Schedule D, line 13, or Form 1040, line 13) generally does not count as investment income. Amended forms However, you can choose to include all or part of it in investment income, as explained in Choosing to include net capital gain , earlier. Amended forms   Your investment income also includes the amount on Form 8814, line 12 (or, if applicable, the reduced amount figured under Child's Alaska Permanent Fund dividends , earlier). Amended forms Investment expenses. Amended forms   Investment expenses are your allowed deductions (other than interest expense) directly connected with the production of investment income. Amended forms Investment expenses that are included as a miscellaneous itemized deduction on Schedule A (Form 1040) are allowable deductions after applying the 2% limit that applies to miscellaneous itemized deductions. Amended forms Use the smaller of: The investment expenses included on Schedule A (Form 1040), line 23, or The amount on Schedule A, line 27. Amended forms Losses from passive activities. Amended forms   Income or expenses that you used in computing income or loss from a passive activity are not included in determining your investment income or investment expenses (including investment interest expense). Amended forms See Publication 925, Passive Activity and At-Risk Rules, for information about passive activities. Amended forms Form 4952 Use Form 4952, Investment Interest Expense Deduction, to figure your deduction for investment interest. Amended forms Exception to use of Form 4952. Amended forms   You do not have to complete Form 4952 or attach it to your return if you meet all of the following tests. Amended forms Your investment interest expense is not more than your investment income from interest and ordinary dividends minus any qualified dividends. Amended forms You do not have any other deductible investment expenses. Amended forms You have no carryover of investment interest expense from 2012. Amended forms If you meet all of these tests, you can deduct all of your investment interest. Amended forms More Information For more information on investment interest, see Interest Expenses in chapter 3 of Publication 550. Amended forms Items You Cannot Deduct Some interest payments are not deductible. Amended forms Certain expenses similar to interest also are not deductible. Amended forms Nondeductible expenses include the following items. Amended forms Personal interest (discussed later). Amended forms Service charges (however, see Other Expenses (Line 23) in chapter 28). Amended forms Annual fees for credit cards. Amended forms Loan fees. Amended forms Credit investigation fees. Amended forms Interest to purchase or carry tax-exempt securities. Amended forms Penalties. Amended forms   You cannot deduct fines and penalties paid to a government for violations of law, regardless of their nature. Amended forms Personal Interest Personal interest is not deductible. Amended forms Personal interest is any interest that is not home mortgage interest, investment interest, business interest, or other deductible interest. Amended forms It includes the following items. Amended forms Interest on car loans (unless you use the car for business). Amended forms Interest on federal, state, or local income tax. Amended forms Finance charges on credit cards, retail installment contracts, and revolving charge accounts incurred for personal expenses. Amended forms Late payment charges by a public utility. Amended forms You may be able to deduct interest you pay on a qualified student loan. Amended forms For details, see Publication 970, Tax Benefits for Education. Amended forms Allocation of Interest If you use the proceeds of a loan for more than one purpose (for example, personal and business), you must allocate the interest on the loan to each use. Amended forms However, you do not have to allocate home mortgage interest if it is fully deductible, regardless of how the funds are used. Amended forms You allocate interest (other than fully deductible home mortgage interest) on a loan in the same way as the loan itself is allocated. Amended forms You do this by tracing disbursements of the debt proceeds to specific uses. Amended forms For details on how to do this, see chapter 4 of Publication 535. Amended forms How To Report You must file Form 1040 to deduct any home mortgage interest expense on your tax return. Amended forms Where you deduct your interest expense generally depends on how you use the loan proceeds. Amended forms See Table 23-1 for a summary of where to deduct your interest expense. Amended forms Home mortgage interest and points. Amended forms   Deduct the home mortgage interest and points reported to you on Form 1098 on Schedule A (Form 1040), line 10. Amended forms If you paid more deductible interest to the financial institution than the amount shown on Form 1098, show the larger deductible amount on line 10. Amended forms Attach a statement explaining the difference and print “See attached” next to line 10. Amended forms    Deduct home mortgage interest that was not reported to you on Form 1098 on Schedule A (Form 1040), line 11. Amended forms If you paid home mortgage interest to the person from whom you bought your home, show that person's name, address, and taxpayer identification number (TIN) on the dotted lines next to line 11. Amended forms The seller must give you this number and you must give the seller your TIN. Amended forms A Form W-9, Request for Taxpayer Identification Number and Certification, can be used for this purpose. Amended forms Failure to meet any of these requirements may result in a $50 penalty for each failure. Amended forms The TIN can be either a social security number, an individual taxpayer identification number (issued by the Internal Revenue Service), or an employer identification number. Amended forms See Social Security Number (SSN) in chapter 1 for more information about TINs. Amended forms    If you can take a deduction for points that were not reported to you on Form 1098, deduct those points on Schedule A (Form 1040), line 12. Amended forms   Deduct mortgage insurance premiums on Schedule A (Form 1040), line 13. Amended forms More than one borrower. Amended forms   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 a mortgage that was for your home, and the other person received a Form 1098 showing the interest that was paid during the year, attach a statement to your return explaining this. Amended forms Show how much of the interest each of you paid, and give the name and address of the person who received the form. Amended forms Deduct your share of the interest on Schedule A (Form 1040), line 11, and print “See attached” next to the line. Amended forms Also, deduct your share of any qualified mortgage insurance premiums on Schedule A (Form 1040), line 13. Amended forms   Similarly, if you are the payer of record on a mortgage on which there are other borrowers entitled to a deduction for the interest shown on the Form 1098 you received, deduct only your share of the interest on Schedule A (Form 1040), line 10. Amended forms You should let each of the other borrowers know what his or her share is. Amended forms Mortgage proceeds used for business or investment. Amended forms    If your home mortgage interest deduction is limited, but all or part of the mortgage proceeds were used for business, investment, or other deductible activities, see Table 23-1. Amended forms It shows where to deduct the part of your excess interest that is for those activities. Amended forms Investment interest. Amended forms    Deduct investment interest, subject to certain limits discussed in Publication 550, on Schedule A (Form 1040), line 14. Amended forms Amortization of bond premium. Amended forms   There are various ways to treat the premium you pay to buy taxable bonds. Amended forms See Bond Premium Amortization in Publication 550. Amended forms Income-producing rental or royalty interest. Amended forms   Deduct interest on a loan for income-producing rental or royalty property that is not used in your business in Part I of Schedule E (Form 1040). Amended forms Example. Amended forms You rent out part of your home and borrow money to make repairs. Amended forms You can deduct only the interest payment for the rented part in Part I of Schedule E (Form 1040). Amended forms Deduct the rest of the interest payment on Schedule A (Form 1040) if it is deductible home mortgage interest. Amended forms Table 23-1. Amended forms Where To Deduct Your Interest Expense IF you have . Amended forms . Amended forms . Amended forms THEN deduct it on . Amended forms . Amended forms . Amended forms AND for more information go to . Amended forms . Amended forms . Amended forms deductible student loan interest Form 1040, line 33, or Form 1040A, line 18 Publication 970. Amended forms deductible home mortgage interest and points reported on Form 1098 Schedule A (Form 1040), line 10 Publication 936. Amended forms deductible home mortgage interest not reported on Form 1098 Schedule A (Form 1040), line 11 Publication 936. Amended forms deductible points not reported on Form 1098 Schedule A (Form 1040), line 12 Publication 936. Amended forms deductible mortgage insurance premiums Schedule A (Form 1040), line 13 Publication 936. Amended forms deductible investment interest (other than incurred to produce rents or royalties) Schedule A (Form 1040), line 14 Publication 550. Amended forms deductible business interest (non-farm) Schedule C or C-EZ (Form 1040) Publication 535. Amended forms deductible farm business interest Schedule F (Form 1040) Publications 225 and 535. Amended forms deductible interest incurred to produce rents or royalties Schedule E (Form 1040) Publications 527 and 535. Amended forms personal interest not deductible. Amended forms Prev  Up  Next   Home   More Online Publications