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Statetaxreturn 5. Statetaxreturn   Personal Use of Dwelling Unit (Including Vacation Home) Table of Contents Dividing Expenses Dwelling Unit Used as a HomeMain home. Statetaxreturn Shared equity financing agreement. Statetaxreturn Donation of use of the property. Statetaxreturn Examples. Statetaxreturn Days used for repairs and maintenance. Statetaxreturn Days used as a main home before or after renting. Statetaxreturn Reporting Income and DeductionsNot used as a home. Statetaxreturn Used as a home but rented less than 15 days. Statetaxreturn Used as a home and rented 15 days or more. Statetaxreturn 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. Statetaxreturn 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. Statetaxreturn Only your rental expenses may deducted on Schedule E (Form 1040). Statetaxreturn Some of your personal expenses may be deductible if you itemize your deductions on Schedule A (Form 1040). Statetaxreturn You must also determine if the dwelling unit is considered a home. Statetaxreturn The amount of rental expenses that you can deduct may be limited if the dwelling unit is considered a home. Statetaxreturn Whether a dwelling unit is considered a home depends on how many days during the year are considered to be days of personal use. Statetaxreturn 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. Statetaxreturn Dwelling unit. Statetaxreturn   A dwelling unit includes a house, apartment, condominium, mobile home, boat, vacation home, or similar property. Statetaxreturn It also includes all structures or other property belonging to the dwelling unit. Statetaxreturn A dwelling unit has basic living accommodations, such as sleeping space, a toilet, and cooking facilities. Statetaxreturn   A dwelling unit does not include property (or part of the property) used solely as a hotel, motel, inn, or similar establishment. Statetaxreturn 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. Statetaxreturn Example. Statetaxreturn You rent a room in your home that is always available for short-term occupancy by paying customers. Statetaxreturn You do not use the room yourself and you allow only paying customers to use the room. Statetaxreturn This room is used solely as a hotel, motel, inn, or similar establishment and is not a dwelling unit. Statetaxreturn 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. Statetaxreturn When dividing your expenses, follow these rules. Statetaxreturn 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. Statetaxreturn (This rule does not apply when determining whether you used the unit as a home. Statetaxreturn ) Any day that the unit is available for rent but not actually rented is not a day of rental use. Statetaxreturn Fair rental price. Statetaxreturn   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. Statetaxreturn 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. Statetaxreturn   Ask yourself the following questions when comparing another property with yours. Statetaxreturn Is it used for the same purpose? Is it approximately the same size? Is it in approximately the same condition? Does it have similar furnishings? Is it in a similar location? If any of the answers are no, the properties probably are not similar. Statetaxreturn Example. Statetaxreturn Your beach cottage was available for rent from June 1 through August 31 (92 days). Statetaxreturn Except for the first week in August (7 days), when you were unable to find a renter, you rented the cottage at a fair rental price during that time. Statetaxreturn 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. Statetaxreturn Your family also used the cottage during the last 2 weeks of May (14 days). Statetaxreturn The cottage was not used at all before May 17 or after August 31. Statetaxreturn You figure the part of the cottage expenses to treat as rental expenses as follows. Statetaxreturn The cottage was used for rental a total of 85 days (92 − 7). Statetaxreturn The days it was available for rent but not rented (7 days) are not days of rental use. Statetaxreturn The July weekend (2 days) you used it is rental use because you received a fair rental price for the weekend. Statetaxreturn You used the cottage for personal purposes for 14 days (the last 2 weeks in May). Statetaxreturn The total use of the cottage was 99 days (14 days personal use + 85 days rental use). Statetaxreturn Your rental expenses are 85/99 (86%) of the cottage expenses. Statetaxreturn Note. Statetaxreturn 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. Statetaxreturn Therefore, you had 16 days of personal use and 83 days of rental use for this purpose. Statetaxreturn 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. Statetaxreturn If you have a net loss, you may not be able to deduct all of the rental expenses. Statetaxreturn See Dwelling Unit Used as a Home, next. Statetaxreturn 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. Statetaxreturn 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. Statetaxreturn See What is a day of personal use , later. Statetaxreturn If a dwelling unit is used for personal purposes on a day it is rented at a fair rental price (discussed earlier), do not count that day as a day of rental use in applying (2) above. Statetaxreturn Instead, count it as a day of personal use in applying both (1) and (2) above. Statetaxreturn 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. Statetaxreturn You or any other person who owns an interest in it, unless you rent it to another owner as his or her main home under a shared equity financing agreement (defined later). Statetaxreturn However, see Days used as a main home before or after renting , later. Statetaxreturn A member of your family or a member of the family of any other person who owns an interest in it, unless the family member uses the dwelling unit as his or her main home and pays a fair rental price. Statetaxreturn Family includes only your spouse, brothers and sisters, half-brothers and half-sisters, ancestors (parents, grandparents, etc. Statetaxreturn ), and lineal descendants (children, grandchildren, etc. Statetaxreturn ). Statetaxreturn Anyone under an arrangement that lets you use some other dwelling unit. Statetaxreturn Anyone at less than a fair rental price. Statetaxreturn Main home. Statetaxreturn   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. Statetaxreturn Shared equity financing agreement. Statetaxreturn   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. Statetaxreturn Donation of use of the property. Statetaxreturn   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. Statetaxreturn Examples. Statetaxreturn   The following examples show how to determine if you have days of personal use. Statetaxreturn Example 1. Statetaxreturn You and your neighbor are co-owners of a condominium at the beach. Statetaxreturn Last year, you rented the unit to vacationers whenever possible. Statetaxreturn The unit was not used as a main home by anyone. Statetaxreturn Your neighbor used the unit for 2 weeks last year; you did not use it at all. Statetaxreturn 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. Statetaxreturn Example 2. Statetaxreturn You and your neighbors are co-owners of a house under a shared equity financing agreement. Statetaxreturn Your neighbors live in the house and pay you a fair rental price. Statetaxreturn 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. Statetaxreturn This is because your neighbors rent the house as their main home under a shared equity financing agreement. Statetaxreturn Example 3. Statetaxreturn You own a rental property that you rent to your son. Statetaxreturn Your son does not own any interest in this property. Statetaxreturn He uses it as his main home and pays you a fair rental price. Statetaxreturn 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. Statetaxreturn Example 4. Statetaxreturn You rent your beach house to Rosa. Statetaxreturn Rosa rents her cabin in the mountains to you. Statetaxreturn You each pay a fair rental price. Statetaxreturn You are using your beach house for personal purposes on the days that Rosa uses it because your house is used by Rosa under an arrangement that allows you to use her cabin. Statetaxreturn Example 5. Statetaxreturn You rent an apartment to your mother at less than a fair rental price. Statetaxreturn You are using the apartment for personal purposes on the days that your mother rents it because you rent it for less than a fair rental price. Statetaxreturn Days used for repairs and maintenance. Statetaxreturn   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. Statetaxreturn 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. Statetaxreturn Example. Statetaxreturn Corey owns a cabin in the mountains that he rents for most of the year. Statetaxreturn He spends a week at the cabin with family members. Statetaxreturn Corey works on maintenance of the cabin 3 or 4 hours each day during the week and spends the rest of the time fishing, hiking, and relaxing. Statetaxreturn Corey's family members, however, work substantially full time on the cabin each day during the week. Statetaxreturn The main purpose of being at the cabin that week is to do maintenance work. Statetaxreturn Therefore, the use of the cabin during the week by Corey and his family will not be considered personal use by Corey. Statetaxreturn Days used as a main home before or after renting. Statetaxreturn   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. Statetaxreturn Do not count them as days of personal use if: You rented or tried to rent the property for 12 or more consecutive months. Statetaxreturn 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. Statetaxreturn However, this special rule does not apply when dividing expenses between rental and personal use. Statetaxreturn See Property Changed to Rental Use in chapter 4. Statetaxreturn Example 1. Statetaxreturn On February 29, 2012, you moved out of the house you had lived in for 6 years because you accepted a job in another town. Statetaxreturn You rented your house at a fair rental price from March 15, 2012, to May 14, 2013 (14 months). Statetaxreturn On June 1, 2013, you moved back into your old house. Statetaxreturn The days you used the house as your main home from January 1 to February 29, 2012, and from June 1 to December 31, 2013, are not counted as days of personal use. Statetaxreturn Therefore, you would use the rules in chapter 1 when figuring your rental income and expenses. Statetaxreturn Example 2. Statetaxreturn On January 31, you moved out of the condominium where you had lived for 3 years. Statetaxreturn You offered it for rent at a fair rental price beginning on February 1. Statetaxreturn You were unable to rent it until April. Statetaxreturn On September 15, you sold the condominium. Statetaxreturn The days you used the condominium as your main home from January 1 to January 31 are not counted as days of personal use when determining whether you used it as a home. Statetaxreturn Examples. Statetaxreturn   The following examples show how to determine whether you used your rental property as a home. Statetaxreturn Example 1. Statetaxreturn You converted the basement of your home into an apartment with a bedroom, a bathroom, and a small kitchen. Statetaxreturn You rented the basement apartment at a fair rental price to college students during the regular school year. Statetaxreturn You rented to them on a 9-month lease (273 days). Statetaxreturn You figured 10% of the total days rented to others at a fair rental price is 27 days. Statetaxreturn During June (30 days), your brothers stayed with you and lived in the basement apartment rent free. Statetaxreturn Your basement apartment was used as a home because you used it for personal purposes for 30 days. Statetaxreturn Rent-free use by your brothers is considered personal use. Statetaxreturn Your personal use (30 days) is more than the greater of 14 days or 10% of the total days it was rented (27 days). Statetaxreturn Example 2. Statetaxreturn 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). Statetaxreturn Your sister-in-law stayed in the room, rent free, for the last 3 weeks (21 days) in July. Statetaxreturn You figured 10% of the total days rented to others at a fair rental price is 3 days. Statetaxreturn The room was used as a home because you used it for personal purposes for 21 days. Statetaxreturn That is more than the greater of 14 days or 10% of the 27 days it was rented (3 days). Statetaxreturn Example 3. Statetaxreturn You own a condominium apartment in a resort area. Statetaxreturn You rented it at a fair rental price for a total of 170 days during the year. Statetaxreturn For 12 of these days, the tenant was not able to use the apartment and allowed you to use it even though you did not refund any of the rent. Statetaxreturn Your family actually used the apartment for 10 of those days. Statetaxreturn Therefore, the apartment is treated as having been rented for 160 (170 – 10) days. Statetaxreturn You figured 10% of the total days rented to others at a fair rental price is 16 days. Statetaxreturn Your family also used the apartment for 7 other days during the year. Statetaxreturn You used the apartment as a home because you used it for personal purposes for 17 days. Statetaxreturn That is more than the greater of 14 days or 10% of the 160 days it was rented (16 days). Statetaxreturn Minimal rental use. Statetaxreturn   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. Statetaxreturn See Used as a home but rented less than 15 days, later, for more information. Statetaxreturn Limit on deductions. Statetaxreturn   Renting a dwelling unit that is considered a home is not a passive activity. Statetaxreturn 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. Statetaxreturn 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. Statetaxreturn Any expenses carried forward to the next year will be subject to any limits that apply for that year. Statetaxreturn 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. Statetaxreturn   To figure your deductible rental expenses for this year and any carryover to next year, use Worksheet 5–1. Statetaxreturn Reporting Income and Deductions Property not used for personal purposes. Statetaxreturn   If you do not use a dwelling unit for personal purposes, see chapter 3 for how to report your rental income and expenses. Statetaxreturn Property used for personal purposes. Statetaxreturn   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. Statetaxreturn Not used as a home. Statetaxreturn   If you use a dwelling unit for personal purposes, but not as a home, report all the rental income in your income. Statetaxreturn Since you used the dwelling unit for personal purposes, you must divide your expenses between the rental use and the personal use as described earlier in this chapter under Dividing Expenses . Statetaxreturn The expenses for personal use are not deductible as rental expenses. Statetaxreturn   Your deductible rental expenses can be more than your gross rental income; however, see Limits on Rental Losses in chapter 3. Statetaxreturn Used as a home but rented less than 15 days. Statetaxreturn   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). Statetaxreturn You are not required to report the rental income and rental expenses from this activity. Statetaxreturn The expenses, including qualified mortgage interest, property taxes, and any qualified casualty loss will be reported as normally allowed on Schedule A (Form 1040). Statetaxreturn See the Instructions for Schedule A (Form 1040) for more information on deducting these expenses. Statetaxreturn Used as a home and rented 15 days or more. Statetaxreturn   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. Statetaxreturn Since you used the dwelling unit for personal purposes, you must divide your expenses between the rental use and the personal use as described earlier in this chapter under Dividing Expenses . Statetaxreturn The expenses for personal use are not deductible as rental expenses. Statetaxreturn   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. Statetaxreturn You do not need to use Worksheet 5-1. Statetaxreturn   However, if you had a net loss from renting the dwelling unit for the year, your deduction for certain rental expenses is limited. Statetaxreturn To figure your deductible rental expenses and any carryover to next year, use Worksheet 5–1. Statetaxreturn Worksheet 5-1. Statetaxreturn 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. Statetaxreturn Did you use the dwelling unit as a home this year? (See Dwelling Unit Used as a Home . Statetaxreturn ) 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. Statetaxreturn Rental Use Percentage A. Statetaxreturn Total days available for rent at fair rental price A. Statetaxreturn       B. Statetaxreturn Total days available for rent (line A) but not rented B. Statetaxreturn       C. Statetaxreturn Total days of rental use. Statetaxreturn Subtract line B from line A C. Statetaxreturn       D. Statetaxreturn Total days of personal use (including days rented at less than fair rental price) D. Statetaxreturn       E. Statetaxreturn Total days of rental and personal use. Statetaxreturn Add lines C and D E. Statetaxreturn       F. Statetaxreturn Percentage of expenses allowed for rental. Statetaxreturn Divide line C by line E     F. Statetaxreturn . Statetaxreturn PART II. Statetaxreturn Allowable Rental Expenses 1. Statetaxreturn Enter rents received 1. Statetaxreturn   2a. Statetaxreturn Enter the rental portion of deductible home mortgage interest and qualified mortgage insurance premiums (see instructions) 2a. Statetaxreturn       b. Statetaxreturn Enter the rental portion of real estate taxes b. Statetaxreturn       c. Statetaxreturn Enter the rental portion of deductible casualty and theft losses (see instructions) c. Statetaxreturn       d. Statetaxreturn Enter direct rental expenses (see instructions) d. Statetaxreturn       e. Statetaxreturn Fully deductible rental expenses. Statetaxreturn Add lines 2a–2d. Statetaxreturn Enter here and  on the appropriate lines on Schedule E (see instructions) 2e. Statetaxreturn   3. Statetaxreturn Subtract line 2e from line 1. Statetaxreturn If zero or less, enter -0- 3. Statetaxreturn   4a. Statetaxreturn Enter the rental portion of expenses directly related to operating or maintaining  the dwelling unit (such as repairs, insurance, and utilities) 4a. Statetaxreturn       b. Statetaxreturn Enter the rental portion of excess mortgage interest and qualified mortgage insurance premiums (see instructions) b. Statetaxreturn       c. Statetaxreturn Carryover of operating expenses from 2012 worksheet c. Statetaxreturn       d. Statetaxreturn Add lines 4a–4c d. Statetaxreturn       e. Statetaxreturn Allowable expenses. Statetaxreturn Enter the smaller of line 3 or line 4d (see instructions) 4e. Statetaxreturn   5. Statetaxreturn Subtract line 4e from line 3. Statetaxreturn If zero or less, enter -0- 5. Statetaxreturn   6a. Statetaxreturn Enter the rental portion of excess casualty and theft losses (see instructions) 6a. Statetaxreturn       b. Statetaxreturn Enter the rental portion of depreciation of the dwelling unit b. Statetaxreturn       c. Statetaxreturn Carryover of excess casualty losses and depreciation from 2012 worksheet c. Statetaxreturn       d. Statetaxreturn Add lines 6a–6c d. Statetaxreturn       e. Statetaxreturn Allowable excess casualty and theft losses and depreciation. Statetaxreturn Enter the smaller of  line 5 or line 6d (see instructions) 6e. Statetaxreturn   PART III. Statetaxreturn Carryover of Unallowed Expenses to Next Year 7a. Statetaxreturn Operating expenses to be carried over to next year. Statetaxreturn Subtract line 4e from line 4d 7a. Statetaxreturn   b. Statetaxreturn Excess casualty and theft losses and depreciation to be carried over to next year. Statetaxreturn  Subtract line 6e from line 6d b. Statetaxreturn   Worksheet 5-1 Instructions. Statetaxreturn Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Caution. Statetaxreturn 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. Statetaxreturn Line 2a. Statetaxreturn Figure the mortgage interest on the dwelling unit that you could deduct on Schedule A as if you had not rented the unit. Statetaxreturn Do not include interest on a loan that did not benefit the dwelling unit. Statetaxreturn 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. Statetaxreturn Include interest on a loan used to buy, build, or improve the dwelling unit, or to refinance such a loan. Statetaxreturn Include the rental portion of this interest in the total you enter on line 2a of the worksheet. Statetaxreturn   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. Statetaxreturn See the Schedule A instructions. Statetaxreturn However, figure your adjusted gross income (Form 1040, line 38) without your rental income and expenses from the dwelling unit. Statetaxreturn See Line 4b to deduct the part of the qualified mortgage insurance premiums not allowed because of the adjusted gross income limit. Statetaxreturn Include the rental portion of the amount from Schedule A, line 13, in the total you enter on line 2a of the worksheet. Statetaxreturn   Note. Statetaxreturn Do not file this Schedule A or use it to figure the amount to deduct on line 13 of that schedule. Statetaxreturn Instead, figure the personal portion on a separate Schedule A. Statetaxreturn 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. Statetaxreturn           Line 2c. Statetaxreturn 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. Statetaxreturn To do this, complete Section A of Form 4684, Casualties and Thefts, treating the losses as personal losses. Statetaxreturn If any of the loss is due to a federally declared disaster, see the Instructions for Form 4684. Statetaxreturn On Form 4684, line 17, enter 10% of your adjusted gross income figured without your rental income and expenses from the dwelling unit. Statetaxreturn Enter the rental portion of the result from Form 4684, line 18, on line 2c of this worksheet. Statetaxreturn   Note. Statetaxreturn Do not file this Form 4684 or use it to figure your personal losses on Schedule A. Statetaxreturn Instead, figure the personal portion on a separate Form 4684. Statetaxreturn           Line 2d. Statetaxreturn Enter the total of your rental expenses that are directly related only to the rental activity. Statetaxreturn These include interest on loans used for rental activities other than to buy, build, or improve the dwelling unit. Statetaxreturn Also include rental agency fees, advertising, office supplies, and depreciation on office equipment used in your rental activity. Statetaxreturn           Line 2e. Statetaxreturn 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. Statetaxreturn Enter the amounts on lines 2a, 2b, 2c, and 2d on the appropriate lines of Schedule E. Statetaxreturn           Line 4b. Statetaxreturn On line 2a, you entered the rental portion of the mortgage interest or qualified mortgage insurance premiums you could deduct on Schedule A if you had not rented the dwelling unit. Statetaxreturn 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. Statetaxreturn Do not include interest on a loan that did not benefit the dwelling unit  (as explained in the line 2a instructions). Statetaxreturn           Line 4e. Statetaxreturn 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. Statetaxreturn *           Line 6a. Statetaxreturn To find the rental portion of excess casualty and theft losses, use the Form 4684 you prepared for line 2c of this worksheet. Statetaxreturn   A. Statetaxreturn Enter the amount from Form 4684, line 10       B. Statetaxreturn Enter the rental portion of line A       C. Statetaxreturn Enter the amount from line 2c of this worksheet       D. Statetaxreturn Subtract line C from line B. Statetaxreturn Enter the result here and on line 6a of this worksheet               Line 6e. Statetaxreturn 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. Statetaxreturn * *Allocating the limited deduction. Statetaxreturn 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. Statetaxreturn Enter the amount you allocate to each expense on the appropriate line of Schedule E, Part I. Statetaxreturn Prev  Up  Next   Home   More Online Publications
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Winter 2014 Statistics of Income Bulletin Now Available


IR-2014-33, March 20, 2014

WASHINGTON — The Internal Revenue Service today announced the availability of the winter 2014 issue of the Statistics of Income Bulletin, which features preliminary data for individual income tax returns filed for Tax Year 2012.

The Statistics of Income (SOI) Division produces the SOI Bulletin on a quarterly basis. Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers. This issue includes articles on the following topics:

Individual Income Tax Returns, Preliminary Data, 2012: Taxpayers filed 145 million individual income tax returns for 2012. The adjusted gross income (AGI) reported on these returns totaled $9 trillion, a 9 percent increase from the previous year. Taxable income rose almost 12 percent to more than $6 trillion, accordingly, total income tax increased 15 percent to $1.2 trillion. Although taxpayers reported $29 billion in alternative minimum tax, an increase of almost 8 percent compared to the prior year, the number of returns reporting the AMT fell one percent.

Sales of Capital Assets Panel Data Reported on Individual Tax Returns, 2004-2007:  The SOI panel study of individual taxpayer trends in taxes and income showed the following increases from 2004 through 2007.

  • Net gains and losses increased 84.7 percent, from $496.3 billion to $916.5 billion.
  • Capital gains rose 69.2 percent to $1.1 trillion during this same period.

For all 4 years of the study, taxpayers realized most combined short- and long-term net gains less losses from passthrough entities (partnerships, S corporations, and fiduciaries).

Split-Interest Trusts, Filing Year 2012:  Tax preparers filed 113,688 Forms 5227 to report the financial activities of split-interest trusts to the IRS for Filing Year 2012, a 3.4-percent decline from 2011. Split-interest trusts reported 16,500 distributions of principal ($2.5 billion)  and 15,580 distributions of income ($1,793.7 billion) for the year. Asset contributions rose to more than $5.2 billion, a 74 percent increase over the previous year. Charitable remainder trusts continued to be the most common split-interest trust, accounting for 93 percent of the returns filed.

Nonprofit Charitable Organizations, 2010: Tax exempt public charities (501(c)(3) organizations) filed almost 270,000 Forms 990 and 990-EZ and reported $2.9 trillion in assets for Tax Year 2010, an increase of 9 percent from the previous year. These organizations reported $1.6 trillion in total revenue, nearly three-quarters ($1.2 trillion) of which came from program services. They reported $1.5 trillion in expenses.

The Statistics of Income Bulletin is available for download at IRS.gov/taxstats. Printed copies of the Statistics of Income Bulletin are available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. The annual subscription rate is $67 ($93.80 foreign), single issues cost $44 ($61.60 foreign).

For more information about these data, write to the Internal Revenue Service (RAS:S), Director, Statistics of Income, 1111 Constitution Ave., NW (K-Room 4112), Washington, DC 20224-0002.

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Page Last Reviewed or Updated: 20-Mar-2014

The Statetaxreturn

Statetaxreturn Part One -   La Declaración de Impuestos sobre los Ingresos Los cuatro capítulos de esta sección presentan información básica sobre el sistema tributario. Statetaxreturn Le explican los primeros pasos para llenar una declaración de impuestos; por ejemplo, cómo determinar qué estado civil para efectos de la declaración le corresponde, cuántas exenciones puede reclamar y qué formulario presentar. Statetaxreturn Asimismo, explican los requisitos de mantenimiento de documentación, el sistema de presentación electrónica del IRS e-file, determinadas multas y los dos métodos que se utilizan para pagar impuestos durante el año: la retención del impuesto y el impuesto estimado. Statetaxreturn Table of Contents 1. Statetaxreturn   Información para la Presentación de la Declaración de ImpuestosQué Hay de Nuevo Recordatorios Introduction ¿Debo Presentar una Declaración?Individuos/Personas Físicas—En General Dependientes Determinados Hijos Menores de 19 Años de Edad o Estudiantes a Tiempo Completo Trabajadores por Cuenta Propia Extranjeros Quién Debe Presentar una Declaración ¿Qué Formulario Debo Usar?Formulario 1040EZ Formulario 1040A Formulario 1040 ¿Tengo que Presentar la Declaración en Papel? E-file del IRS ¿Cuándo Tengo que Presentar la Declaración?Servicios de entrega privados. Statetaxreturn Prórrogas del Plazo para Presentar la Declaración de Impuestos ¿Cómo Preparo la Declaración de Impuestos?¿Cuándo Declaro los Ingresos y Gastos? Número de Seguro Social Fondo para la Campaña Electoral Presidencial Cálculos Documentos Adjuntos Designación de un Tercero Firmas Preparador Remunerado Reembolsos Cantidad que Adeuda Donaciones Para Reducir la Deuda Pública Nombre y Dirección ¿Dónde Presento la Declaración? ¿Qué Ocurre Después de Presentar la Declaración?¿Qué Documentos Debo Mantener? ¿Por Qué Debe Mantener los Documentos? Tipo de Documentos que Debe Mantener Documentos Básicos Cuánto Tiempo Debe Mantener los Documentos Información sobre Reembolsos Intereses Sobre Reembolsos Cambio de Dirección ¿Qué Sucede Si Cometí un Error?Declaraciones Enmendadas y Reclamaciones de Reembolso Multas Robo de Identidad 2. Statetaxreturn   Estado Civil para Efectos de la DeclaraciónQué Hay de Nuevo Introduction Useful Items - You may want to see: Estado CivilPersonas divorciadas. Statetaxreturn Divorcio y nuevo matrimonio. Statetaxreturn Matrimonios anulados. Statetaxreturn Cabeza de familia o viudo que reúne los requisitos con hijo dependiente. Statetaxreturn Personas consideradas casadas. Statetaxreturn Matrimonio del mismo sexo. Statetaxreturn Cónyuge fallecido durante el año. Statetaxreturn Personas casadas que viven separadas. Statetaxreturn Soltero Casados que Presentan una Declaración ConjuntaPresentación de una Declaración Conjunta Casados que Presentan la Declaración por SeparadoReglas Especiales Cabeza de FamiliaPersonas Consideradas no Casadas Personas que Mantienen una Vivienda Persona Calificada Viudo que Reúne los Requisitos con Hijo Dependiente 3. Statetaxreturn   Exenciones Personales y por DependientesQué Hay de Nuevo Introduction Useful Items - You may want to see: ExencionesExenciones Personales Exenciones por Dependientes Hijo Calificado Pariente Calificado Eliminación gradual por fases de la exención Números de Seguro Social para DependientesNacimiento y fallecimiento en el año 2013. Statetaxreturn Número de identificación personal del contribuyente del Servicio de Impuestos Internos. Statetaxreturn Números de identificación del contribuyente en proceso de adopción. Statetaxreturn 4. Statetaxreturn   Retención de Impuestos e Impuesto EstimadoQué Hay de Nuevo para el Año 2014 Recordatorios Introduction Useful Items - You may want to see: Retención de Impuesto para el Año 2014Sueldos y Salarios Propinas Beneficios Marginales Tributables Compensación por Enfermedad Pensiones y Anualidades Ganancias Provenientes de Juegos de Azar y Apuestas Compensación por Desempleo Pagos del Gobierno Federal Retención Adicional Impuesto Estimado para el Año 2014Quién no Tiene que Pagar el Impuesto Estimado ¿Quién Tiene que Pagar Impuesto Estimado? Cómo Calcular el Impuesto Estimado Cuándo se Debe Pagar el Impuesto Estimado Cómo Determinar Cada Pago Cómo Pagar el Impuesto Estimado Crédito por Impuestos Retenidos e Impuesto Estimado para el Año 2013Retención Impuesto Estimado Multa por Pago Insuficiente de Impuestos para el Año 2013 Prev  Up  Next   Home   More Online Publications