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File An Amended Tax Return

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File An Amended Tax Return

File an amended tax return Publication 936 - Main Content Table of Contents Part I. File an amended tax return Home Mortgage InterestSecured Debt Qualified Home Special Situations Points Mortgage Insurance Premiums Form 1098, Mortgage Interest Statement How To Report Special Rule for Tenant-Stockholders in Cooperative Housing Corporations Part II. File an amended tax return Limits on Home Mortgage Interest DeductionHome Acquisition Debt Home Equity Debt Grandfathered Debt Table 1 Instructions How To Get Tax HelpLow Income Taxpayer Clinics Part I. File an amended tax return Home Mortgage Interest This part explains what you can deduct as home mortgage interest. File an amended tax return It includes discussions on points, mortgage insurance premiums, and how to report deductible interest on your tax return. File an amended tax return Generally, home mortgage interest is any interest you pay on a loan secured by your home (main home or a second home). File an amended tax return The loan may be a mortgage to buy your home, a second mortgage, a line of credit, or a home equity loan. File an amended tax return You can deduct home mortgage interest if all the following conditions are met. File an amended tax return You file Form 1040 and itemize deductions on Schedule A (Form 1040). File an amended tax return The mortgage is a secured debt on a qualified home in which you have an ownership interest. File an amended tax return Secured Debt and Qualified Home are explained later. File an amended tax return  Both you and the lender must intend that the loan be repaid. File an amended tax return Fully deductible interest. File an amended tax return   In most cases, you can deduct all of your home mortgage interest. File an amended tax return How much you can deduct depends on the date of the mortgage, the amount of the mortgage, and how you use the mortgage proceeds. File an amended tax return   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. File an amended tax return (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. File an amended tax return ) If one or more of your mortgages does not fit into any of these categories, use Part II of this publication to figure the amount of interest you can deduct. File an amended tax return   The three categories are as follows. File an amended tax return Mortgages you took out on or before October 13, 1987 (called grandfathered debt). File an amended tax return 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). File an amended tax return 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). File an amended tax return The dollar limits for the second and third categories apply to the combined mortgages on your main home and second home. File an amended tax return   See Part II for more detailed definitions of grandfathered, home acquisition, and home equity debt. File an amended tax return    You can use Figure A to check whether your home mortgage interest is fully deductible. File an amended tax return This image is too large to be displayed in the current screen. File an amended tax return Please click the link to view the image. File an amended tax return Figure A. File an amended tax return Is My Home Mortgage Interest Fully Deductible? Secured Debt You can deduct your home mortgage interest only if your mortgage is a secured debt. File an amended tax return A secured debt is one in which you sign an instrument (such as a mortgage, deed of trust, or land contract) that: Makes your ownership in a qualified home security for payment of the debt, Provides, in case of default, that your home could satisfy the debt, and Is recorded or is otherwise perfected under any state or local law that applies. File an amended tax return In other words, your mortgage is a secured debt if you put your home up as collateral to protect the interests of the lender. File an amended tax return If you cannot pay the debt, your home can then serve as payment to the lender to satisfy (pay) the debt. File an amended tax return In this publication, mortgage will refer to secured debt. File an amended tax return Debt not secured by home. File an amended tax return   A debt is not secured by your home if it is secured solely because of a lien on your general assets or if it is a security interest that attaches to the property without your consent (such as a mechanic's lien or judgment lien). File an amended tax return   A debt is not secured by your home if it once was, but is no longer secured by your home. File an amended tax return Wraparound mortgage. File an amended tax return   This is not a secured debt unless it is recorded or otherwise perfected under state law. File an amended tax return Example. File an amended tax return Beth owns a home subject to a mortgage of $40,000. File an amended tax return She sells the home for $100,000 to John, who takes it subject to the $40,000 mortgage. File an amended tax return Beth continues to make the payments on the $40,000 note. File an amended tax return John pays $10,000 down and gives Beth a $90,000 note secured by a wraparound mortgage on the home. File an amended tax return Beth does not record or otherwise perfect the $90,000 mortgage under the state law that applies. File an amended tax return Therefore, the mortgage is not a secured debt and John cannot deduct any of the interest he pays on it as home mortgage interest. File an amended tax return Choice to treat the debt as not secured by your home. File an amended tax return   You can choose to treat any debt secured by your qualified home as not secured by the home. File an amended tax return This treatment begins with the tax year for which you make the choice and continues for all later tax years. File an amended tax return You can revoke your choice only with the consent of the Internal Revenue Service (IRS). File an amended tax return   You may want to treat a debt as not secured by your home if the interest on that debt is fully deductible (for example, as a business expense) whether or not it qualifies as home mortgage interest. File an amended tax return This may allow you, if the limits in Part II apply, more of a deduction for interest on other debts that are deductible only as home mortgage interest. File an amended tax return Cooperative apartment owner. File an amended tax return   If you own stock in a cooperative housing corporation, see the Special Rule for Tenant-Stockholders in Cooperative Housing Corporations , near the end of this Part I. File an amended tax return Qualified Home For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. File an amended tax return This means your main home or your second home. File an amended tax return A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities. File an amended tax return The interest you pay on a mortgage on a home other than your main or second home may be deductible if the proceeds of the loan were used for business, investment, or other deductible purposes. File an amended tax return Otherwise, it is considered personal interest and is not deductible. File an amended tax return Main home. File an amended tax return   You can have only one main home at any one time. File an amended tax return This is the home where you ordinarily live most of the time. File an amended tax return Second home. File an amended tax return   A second home is a home that you choose to treat as your second home. File an amended tax return Second home not rented out. File an amended tax return   If you have a second home that you do not hold out for rent or resale to others at any time during the year, you can treat it as a qualified home. File an amended tax return You do not have to use the home during the year. File an amended tax return Second home rented out. File an amended tax return   If you have a second home and rent it out part of the year, you also must use it as a home during the year for it to be a qualified home. File an amended tax return You must use this home more than 14 days or more than 10% of the number of days during the year that the home is rented at a fair rental, whichever is longer. File an amended tax return If you do not use the home long enough, it is considered rental property and not a second home. File an amended tax return For information on residential rental property, see Publication 527. File an amended tax return More than one second home. File an amended tax return   If you have more than one second home, you can treat only one as the qualified second home during any year. File an amended tax return However, you can change the home you treat as a second home during the year in the following situations. File an amended tax return If you get a new home during the year, you can choose to treat the new home as your second home as of the day you buy it. File an amended tax return If your main home no longer qualifies as your main home, you can choose to treat it as your second home as of the day you stop using it as your main home. File an amended tax return If your second home is sold during the year or becomes your main home, you can choose a new second home as of the day you sell the old one or begin using it as your main home. File an amended tax return Divided use of your home. File an amended tax return   The only part of your home that is considered a qualified home is the part you use for residential living. File an amended tax return If you use part of your home for other than residential living, such as a home office, you must allocate the use of your home. File an amended tax return You must then divide both the cost and fair market value of your home between the part that is a qualified home and the part that is not. File an amended tax return Dividing the cost may affect the amount of your home acquisition debt, which is limited to the cost of your home plus the cost of any improvements. File an amended tax return (See Home Acquisition Debt in Part II. File an amended tax return ) Dividing the fair market value may affect your home equity debt limit, also explained in Part II . File an amended tax return Renting out part of home. File an amended tax return   If you rent out part of a qualified home to another person (tenant), you can treat the rented part as being used by you for residential living only if all of the following conditions apply. File an amended tax return The rented part of your home is used by the tenant primarily for residential living. File an amended tax return The rented part of your home is not a self-contained residential unit having separate sleeping, cooking, and toilet facilities. File an amended tax return You do not rent (directly or by sublease) the same or different parts of your home to more than two tenants at any time during the tax year. File an amended tax return If two persons (and dependents of either) share the same sleeping quarters, they are treated as one tenant. File an amended tax return Office in home. File an amended tax return   If you have an office in your home that you use in your business, see Publication 587, Business Use of Your Home. File an amended tax return It explains how to figure your deduction for the business use of your home, which includes the business part of your home mortgage interest. File an amended tax return Home under construction. File an amended tax return   You can treat a home under construction as a qualified home for a period of up to 24 months, but only if it becomes your qualified home at the time it is ready for occupancy. File an amended tax return   The 24-month period can start any time on or after the day construction begins. File an amended tax return Home destroyed. File an amended tax return   You may be able to continue treating your home as a qualified home even after it is destroyed in a fire, storm, tornado, earthquake, or other casualty. File an amended tax return This means you can continue to deduct the interest you pay on your home mortgage, subject to the limits described in this publication. File an amended tax return   You can continue treating a destroyed home as a qualified home if, within a reasonable period of time after the home is destroyed, you: Rebuild the destroyed home and move into it, or Sell the land on which the home was located. File an amended tax return   This rule applies to your main home and to a second home that you treat as a qualified home. File an amended tax return Time-sharing arrangements. File an amended tax return   You can treat a home you own under a time-sharing plan as a qualified home if it meets all the requirements. File an amended tax return A time-sharing plan is an arrangement between two or more people that limits each person's interest in the home or right to use it to a certain part of the year. File an amended tax return Rental of time-share. File an amended tax return   If you rent out your time-share, it qualifies as a second home only if you also use it as a home during the year. File an amended tax return See Second home rented out , earlier, for the use requirement. File an amended tax return To know whether you meet that requirement, count your days of use and rental of the home only during the time you have a right to use it or to receive any benefits from the rental of it. File an amended tax return Married taxpayers. File an amended tax return   If you are married and file a joint return, your qualified home(s) can be owned either jointly or by only one spouse. File an amended tax return Separate returns. File an amended tax return   If you are married filing separately and you and your spouse own more than one home, you can each take into account only one home as a qualified home. File an amended tax return However, if you both consent in writing, then one spouse can take both the main home and a second home into account. File an amended tax return Special Situations This section describes certain items that can be included as home mortgage interest and others that cannot. File an amended tax return It also describes certain special situations that may affect your deduction. File an amended tax return Late payment charge on mortgage payment. File an amended tax return   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. File an amended tax return Mortgage prepayment penalty. File an amended tax return   If you pay off your home mortgage early, you may have to pay a penalty. File an amended tax return 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. File an amended tax return Sale of home. File an amended tax return   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 the sale. File an amended tax return Example. File an amended tax return John and Peggy Harris sold their home on May 7. File an amended tax return Through April 30, they made home mortgage interest payments of $1,220. File an amended tax return 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. File an amended tax return Their mortgage interest deduction is $1,270 ($1,220 + $50). File an amended tax return Prepaid interest. File an amended tax return   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. File an amended tax return You can deduct in each year only the interest that qualifies as home mortgage interest for that year. File an amended tax return However, there is an exception that applies to points, discussed later. File an amended tax return Mortgage interest credit. File an amended tax return    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. File an amended tax return Figure the credit on Form 8396, Mortgage Interest Credit. File an amended tax return If you take this credit, you must reduce your mortgage interest deduction by the amount of the credit. File an amended tax return   See Form 8396 and Publication 530 for more information on the mortgage interest credit. File an amended tax return Ministers' and military housing allowance. File an amended tax return   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. File an amended tax return Hardest Hit Fund and Emergency Homeowners' Loan Programs. File an amended tax return   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. File an amended tax return 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. File an amended tax return 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. File an amended tax return 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 (other information including real property taxes paid). File an amended tax return 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. File an amended tax return Mortgage assistance payments under section 235 of the National Housing Act. File an amended tax return   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. File an amended tax return You cannot deduct the interest that is paid for you. File an amended tax return No other effect on taxes. File an amended tax return   Do not include these mortgage assistance payments in your income. File an amended tax return Also, do not use these payments to reduce other deductions, such as real estate taxes. File an amended tax return Divorced or separated individuals. File an amended tax return   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. File an amended tax return See the discussion of Payments for jointly-owned home under Alimony in Publication 504, Divorced or Separated Individuals. File an amended tax return Redeemable ground rents. File an amended tax return   In some states (such as Maryland), you can buy your home subject to a ground rent. File an amended tax return A ground rent is an obligation you assume to pay a fixed amount per year on the property. File an amended tax return Under this arrangement, you are leasing (rather than buying) the land on which your home is located. File an amended tax return   If you make annual or periodic rental payments on a redeemable ground rent, you can deduct them as mortgage interest. File an amended tax return   A ground rent is a redeemable ground rent if all of the following are true. File an amended tax return Your lease, including renewal periods, is for more than 15 years. File an amended tax return You can freely assign the lease. File an amended tax return You have a present or future right (under state or local law) to end the lease and buy the lessor's entire interest in the land by paying a specific amount. File an amended tax return The lessor's interest in the land is primarily a security interest to protect the rental payments to which he or she is entitled. File an amended tax return   Payments made to end the lease and to buy the lessor's entire interest in the land are not deductible as mortgage interest. File an amended tax return Nonredeemable ground rents. File an amended tax return   Payments on a nonredeemable ground rent are not mortgage interest. File an amended tax return You can deduct them as rent if they are a business expense or if they are for rental property. File an amended tax return Reverse mortgages. File an amended tax return   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. File an amended tax return With a reverse mortgage, you retain title to your home. File an amended tax return 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. File an amended tax return Because reverse mortgages are considered loan advances and not income, the amount you receive is not taxable. File an amended tax return Any interest (including original issue discount) accrued on a reverse mortgage is not deductible until you actually pay it, which is usually when you pay off the loan in full. File an amended tax return Your deduction may be limited because a reverse mortgage loan generally is subject to the limit on Home Equity Debt discussed in Part II. File an amended tax return Rental payments. File an amended tax return   If you live in a house before final settlement on the purchase, any payments you make for that period are rent and not interest. File an amended tax return This is true even if the settlement papers call them interest. File an amended tax return You cannot deduct these payments as home mortgage interest. File an amended tax return Mortgage proceeds invested in tax-exempt securities. File an amended tax return   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. File an amended tax return “Grandfathered debt” and “home equity debt” are defined in Part II of this publication. File an amended tax return Refunds of interest. File an amended tax return   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. File an amended tax return 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. File an amended tax return However, you need to include it only up to the amount of the deduction that reduced your tax in the earlier year. File an amended tax return This is true whether the interest overcharge was refunded to you or was used to reduce the outstanding principal on your mortgage. File an amended tax return If you need to include the refund in income, report it on Form 1040, line 21. File an amended tax return   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. File an amended tax return For information about Form 1098, see Form 1098, Mortgage Interest Statement , later. File an amended tax return   For more information on how to treat refunds of interest deducted in earlier years, see Recoveries in Publication 525, Taxable and Nontaxable Income. File an amended tax return Cooperative apartment owner. File an amended tax return   If you own a cooperative apartment, you must reduce your home mortgage interest deduction by your share of any cash portion of a patronage dividend that the cooperative receives. File an amended tax return The patronage dividend is a partial refund to the cooperative housing corporation of mortgage interest it paid in a prior year. File an amended tax return   If you receive a Form 1098 from the cooperative housing corporation, the form should show only the amount you can deduct. File an amended tax return Points The term “points” is used to describe certain charges paid, or treated as paid, by a borrower to obtain a home mortgage. File an amended tax return Points may also be called loan origination fees, maximum loan charges, loan discount, or discount points. File an amended tax return This image is too large to be displayed in the current screen. File an amended tax return Please click the link to view the image. File an amended tax return Figure B. File an amended tax return Are My Points Fully Deductible This Year? A borrower is treated as paying any points that a home seller pays for the borrower's mortgage. File an amended tax return See Points paid by the seller , later. File an amended tax return General Rule You generally cannot deduct the full amount of points in the year paid. File an amended tax return Because they are prepaid interest, you generally deduct them ratably over the life (term) of the mortgage. File an amended tax return See Deduction Allowed Ratably , next. File an amended tax return For exceptions to the general rule, see Deduction Allowed in Year Paid , later. File an amended tax return 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. File an amended tax return You use the cash method of accounting. File an amended tax return This means you report income in the year you receive it and deduct expenses in the year you pay them. File an amended tax return Most individuals use this method. File an amended tax return Your loan is secured by a home. File an amended tax return (The home does not need to be your main home. File an amended tax return ) Your loan period is not more than 30 years. File an amended tax return 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. File an amended tax return 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. File an amended tax return Example. File an amended tax return You use the cash method of accounting. File an amended tax return In 2013, you took out a $100,000 loan payable over 20 years. File an amended tax return The terms of the loan are the same as for other 20-year loans offered in your area. File an amended tax return You paid $4,800 in points. File an amended tax return You made 3 monthly payments on the loan in 2013. File an amended tax return You can deduct $60 [($4,800 ÷ 240 months) x 3 payments] in 2013. File an amended tax return In 2014, if you make all twelve payments, you will be able to deduct $240 ($20 x 12). File an amended tax return Deduction Allowed in Year Paid You can fully deduct points in the year paid if you meet all the following tests. File an amended tax return (You can use Figure B as a quick guide to see whether your points are fully deductible in the year paid. File an amended tax return ) Your loan is secured by your main home. File an amended tax return (Your main home is the one you ordinarily live in most of the time. File an amended tax return ) Paying points is an established business practice in the area where the loan was made. File an amended tax return The points paid were not more than the points generally charged in that area. File an amended tax return You use the cash method of accounting. File an amended tax return This means you report income in the year you receive it and deduct expenses in the year you pay them. File an amended tax return Most individuals use this method. File an amended tax return 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. File an amended tax return The funds you provided at or before closing, plus any points the seller paid, were at least as much as the points charged. File an amended tax return The funds you provided are not required to have been applied to the points. File an amended tax return They can include a down payment, an escrow deposit, earnest money, and other funds you paid at or before closing for any purpose. File an amended tax return You cannot have borrowed these funds from your lender or mortgage broker. File an amended tax return You use your loan to buy or build your main home. File an amended tax return The points were computed as a percentage of the principal amount of the mortgage. File an amended tax return The amount is clearly shown on the settlement statement (such as the Settlement Statement, Form HUD-1) as points charged for the mortgage. File an amended tax return The points may be shown as paid from either your funds or the seller's. File an amended tax return Note. File an amended tax return 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. File an amended tax return Home improvement loan. File an amended tax return   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. File an amended tax return Second home. File an amended tax return You cannot fully deduct in the year paid points you pay on loans secured by your second home. File an amended tax return You can deduct these points only over the life of the loan. File an amended tax return Refinancing. File an amended tax return   Generally, points you pay to refinance a mortgage are not deductible in full in the year you pay them. File an amended tax return This is true even if the new mortgage is secured by your main home. File an amended tax return   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 , you can fully deduct the part of the points related to the improvement in the year you paid them with your own funds. File an amended tax return You can deduct the rest of the points over the life of the loan. File an amended tax return Example 1. File an amended tax return In 1998, Bill Fields got a mortgage to buy a home. File an amended tax return In 2013, Bill refinanced that mortgage with a 15-year $100,000 mortgage loan. File an amended tax return The mortgage is secured by his home. File an amended tax return To get the new loan, he had to pay three points ($3,000). File an amended tax return 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. File an amended tax return Bill paid the points out of his private funds, rather than out of the proceeds of the new loan. File an amended tax return The payment of points is an established practice in the area, and the points charged are not more than the amount generally charged there. File an amended tax return Bill's first payment on the new loan was due July 1. File an amended tax return He made six payments on the loan in 2013 and is a cash basis taxpayer. File an amended tax return Bill used the funds from the new mortgage to repay his existing mortgage. File an amended tax return 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. File an amended tax return He cannot deduct all of the points in 2013. File an amended tax return He can deduct two points ($2,000) ratably over the life of the loan. File an amended tax return He deducts $67 [($2,000 ÷ 180 months) × 6 payments] of the points in 2013. File an amended tax return The other point ($1,000) was a fee for services and is not deductible. File an amended tax return Example 2. File an amended tax return 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. File an amended tax return Bill deducts 25% ($25,000 ÷ $100,000) of the points ($2,000) in 2013. File an amended tax return His deduction is $500 ($2,000 × 25%). File an amended tax return Bill also deducts the ratable part of the remaining $1,500 ($2,000 − $500) that must be spread over the life of the loan. File an amended tax return This is $50 [($1,500 ÷ 180 months) × 6 payments] in 2013. File an amended tax return The total amount Bill deducts in 2013 is $550 ($500 + $50). File an amended tax return Special Situations This section describes certain special situations that may affect your deduction of points. File an amended tax return Original issue discount. File an amended tax return   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. File an amended tax return This reduction results in original issue discount, which is discussed in chapter 4 of Publication 535. File an amended tax return Amounts charged for services. File an amended tax return    Amounts charged by the lender for specific services connected to the loan are not interest. File an amended tax return Examples of these charges are: Appraisal fees, Notary fees, and Preparation costs for the mortgage note or deed of trust. File an amended tax return  You cannot deduct these amounts as points either in the year paid or over the life of the mortgage. File an amended tax return Points paid by the seller. File an amended tax return   The term “points” includes loan placement fees that the seller pays to the lender to arrange financing for the buyer. File an amended tax return Treatment by seller. File an amended tax return   The seller cannot deduct these fees as interest. File an amended tax return But they are a selling expense that reduces the amount realized by the seller. File an amended tax return See Publication 523 for information on selling your home. File an amended tax return Treatment by buyer. File an amended tax return   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. File an amended tax return If all the tests under Deduction Allowed in Year Paid , earlier, are met, the buyer can deduct the points in the year paid. File an amended tax return If any of those tests are not met, the buyer deducts the points over the life of the loan. File an amended tax return   If you need information about the basis of your home, see Publication 523 or Publication 530. File an amended tax return Funds provided are less than points. File an amended tax return   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. File an amended tax return In addition, you can deduct any points paid by the seller. File an amended tax return Example 1. File an amended tax return When you took out a $100,000 mortgage loan to buy your home in December, you were charged one point ($1,000). File an amended tax return You meet all the tests for deducting points in the year paid, except the only funds you provided were a $750 down payment. File an amended tax return Of the $1,000 charged for points, you can deduct $750 in the year paid. File an amended tax return You spread the remaining $250 over the life of the mortgage. File an amended tax return Example 2. File an amended tax return 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. File an amended tax return In the year paid, you can deduct $1,750 ($750 of the amount you were charged plus the $1,000 paid by the seller). File an amended tax return You spread the remaining $250 over the life of the mortgage. File an amended tax return You must reduce the basis of your home by the $1,000 paid by the seller. File an amended tax return Excess points. File an amended tax return   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. File an amended tax return You must spread any additional points over the life of the mortgage. File an amended tax return Mortgage ending early. File an amended tax return   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. File an amended tax return However, if you refinance the mortgage with the same lender, you cannot deduct any remaining balance of spread points. File an amended tax return Instead, deduct the remaining balance over the term of the new loan. File an amended tax return   A mortgage may end early due to a prepayment, refinancing, foreclosure, or similar event. File an amended tax return Example. File an amended tax return Dan paid $3,000 in points in 2002 that he had to spread out over the 15-year life of the mortgage. File an amended tax return He deducts $200 points per year. File an amended tax return Through 2012, Dan has deducted $2,200 of the points. File an amended tax return Dan prepaid his mortgage in full in 2013. File an amended tax return He can deduct the remaining $800 of points in 2013. File an amended tax return Limits on deduction. File an amended tax return   You cannot fully deduct points paid on a mortgage that exceeds the limits discussed in Part II . File an amended tax return See the Table 1 Instructions for line 10. File an amended tax return Form 1098. File an amended tax return    The mortgage interest statement you receive should show not only the total interest paid during the year, but also your deductible points paid during the year. File an amended tax return See Form 1098, Mortgage Interest Statement , later. File an amended tax return Mortgage Insurance Premiums You can treat amounts you paid during 2013 for qualified mortgage insurance as home mortgage interest. File an amended tax return The insurance must be in connection with home acquisition debt, and the insurance contract must have been issued after 2006. File an amended tax return Qualified mortgage insurance. File an amended tax return   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). File an amended tax return   Mortgage insurance provided by the Department of Veterans Affairs is commonly known as a funding fee. File an amended tax return If provided by the Rural Housing Service, it is commonly known as a guarantee fee. File an amended tax return The funding fee and guarantee fee can either be included in the amount of the loan or paid in full at the time of closing. File an amended tax return These fees can be deducted fully in 2013 if the mortgage insurance contract was issued in 2013. File an amended tax return Contact the mortgage insurance issuer to determine the deductible amount if it is not reported in box 4 of Form 1098. File an amended tax return Special rules for prepaid mortgage insurance. File an amended tax return   Generally, if you paid premiums for qualified mortgage insurance that are properly allocable to periods after the close of the tax year, such premiums are treated as paid in the period to which they are allocated. File an amended tax return 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. File an amended tax return No deduction is allowed for the unamortized balance if the mortgage is satisfied before its term. File an amended tax return This paragraph does not apply to qualified mortgage insurance provided by the Department of Veterans Affairs or the Rural Housing Service. File an amended tax return Example. File an amended tax return Ryan purchased a home in May of 2012 and financed the home with a 15-year mortgage. File an amended tax return Ryan also prepaid all of the $9,240 in private mortgage insurance required at the time of closing in May. File an amended tax return 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. File an amended tax return Ryan's adjusted gross income (AGI) for 2012 is $76,000. File an amended tax return Ryan can deduct $880 ($9,240 ÷ 84 x 8 months) for qualified mortgage insurance premiums in 2012. File an amended tax return For 2013, Ryan can deduct $1,320 ($9,240 ÷ 84 x 12 months) if his AGI is $100,000 or less. File an amended tax return 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). File an amended tax return Limit on deduction. File an amended tax return   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. File an amended tax return 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. File an amended tax return If your adjusted gross income is more than $109,000 ($54,500 if married filing separately), you cannot deduct your mortgage insurance premiums. File an amended tax return Form 1098. File an amended tax return   The mortgage interest statement you receive should show not only the total interest paid during the year, but also your mortgage insurance premiums paid during the year, which may qualify to be treated as deductible mortgage interest. File an amended tax return See Form 1098, Mortgage Interest Statement, next. File an amended tax return 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. File an amended tax return You will receive the statement if you pay interest to a person (including a financial institution or cooperative housing corporation) in the course of that person's trade or business. File an amended tax return A governmental unit is a person for purposes of furnishing the statement. File an amended tax return The statement for each year should be sent to you by January 31 of the following year. File an amended tax return A copy of this form will also be sent to the IRS. File an amended tax return 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. File an amended tax return However, it should not show any interest that was paid for you by a government agency. File an amended tax return As a general rule, Form 1098 will include only points that you can fully deduct in the year paid. File an amended tax return However, certain points not included on Form 1098 also may be deductible, either in the year paid or over the life of the loan. File an amended tax return See the earlier discussion of Points to determine whether you can deduct points not shown on Form 1098. File an amended tax return Prepaid interest on Form 1098. File an amended tax return   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. File an amended tax return However, you cannot deduct the prepaid amount for January 2014 in 2013. File an amended tax return (See Prepaid interest , earlier. File an amended tax return ) You will have to figure the interest that accrued for 2014 and subtract it from the amount in box 1. File an amended tax return You will include the interest for January 2014 with other interest you pay for 2014. File an amended tax return Refunded interest. File an amended tax return   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. File an amended tax return See Refunds of interest , earlier. File an amended tax return Mortgage insurance premiums. File an amended tax return   The amount of mortgage insurance premiums you paid during 2013 may be shown in Box 4 of Form 1098. File an amended tax return See Mortgage Insurance Premiums , earlier. File an amended tax return How To Report Deduct the home mortgage interest and points reported to you on Form 1098 on Schedule A (Form 1040), line 10. File an amended tax return 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. File an amended tax return Attach a statement explaining the difference and print “See attached” next to line 10. File an amended tax return Deduct home mortgage interest that was not reported to you on Form 1098 on Schedule A (Form 1040), line 11. File an amended tax return 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. File an amended tax return The seller must give you this number and you must give the seller your TIN. File an amended tax return A Form W-9, Request for Taxpayer Identification Number and Certification, can be used for this purpose. File an amended tax return Failure to meet any of these requirements may result in a $50 penalty for each failure. File an amended tax return 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. File an amended tax return 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. File an amended tax return Deduct mortgage insurance premiums on Schedule A (Form 1040), line 13. File an amended tax return More than one borrower. File an amended tax return   If you and at least one other person (other than your spouse if you file a joint return) were liable for and paid interest on 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. File an amended tax return Show how much of the interest each of you paid, and give the name and address of the person who received the form. File an amended tax return Deduct your share of the interest on Schedule A (Form 1040), line 11, and print “See attached” next to the line. File an amended tax return Also, deduct your share of any qualified mortgage insurance premiums on Schedule A (Form 1040), line 13. File an amended tax return   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. File an amended tax return Let each of the other borrowers know what his or her share is. File an amended tax return Mortgage proceeds used for business or investment. File an amended tax return   If your home mortgage interest deduction is limited under the rules explained in Part II , but all or part of the mortgage proceeds were used for business, investment, or other deductible activities, see Table 2 near the end of this publication. File an amended tax return It shows where to deduct the part of your excess interest that is for those activities. File an amended tax return The Table 1 Instructions for line 13 in Part II explain how to divide the excess interest among the activities for which the mortgage proceeds were used. File an amended tax return Special Rule for Tenant-Stockholders in Cooperative Housing Corporations A qualified home includes stock in a cooperative housing corporation owned by a tenant-stockholder. File an amended tax return This applies only if the tenant-stockholder is entitled to live in the house or apartment because of owning stock in the cooperative. File an amended tax return Cooperative housing corporation. File an amended tax return   This is a corporation that meets all of the following conditions. File an amended tax return Has only one class of stock outstanding, Has no stockholders other than those who own the stock that can live in a house, apartment, or house trailer owned or leased by the corporation, Has no stockholders who can receive any distribution out of capital other than on a liquidation of the corporation, and Meets at least one of the following requirements. File an amended tax return Receives at least 80% of its gross income for the year in which the mortgage interest is paid or incurred from tenant-stockholders. File an amended tax return For this purpose, gross income is all income received during the entire year, including amounts received before the corporation changed to cooperative ownership. File an amended tax return At all times during the year, at least 80% of the total square footage of the corporation's property is used or available for use by the tenant-stockholders for residential or residential-related use. File an amended tax return At least 90% of the corporation's expenditures paid or incurred during the year are for the acquisition, construction, management, maintenance, or care of corporate property for the benefit of the tenant-stockholders. File an amended tax return Stock used to secure debt. File an amended tax return   In some cases, you cannot use your cooperative housing stock to secure a debt because of either: Restrictions under local or state law, or Restrictions in the cooperative agreement (other than restrictions in which the main purpose is to permit the tenant- stockholder to treat unsecured debt as secured debt). File an amended tax return However, you can treat a debt as secured by the stock to the extent that the proceeds are used to buy the stock under the allocation of interest rules. File an amended tax return See chapter 4 of Publication 535 for details on these rules. File an amended tax return Figuring deductible home mortgage interest. File an amended tax return   Generally, if you are a tenant-stockholder, you can deduct payments you make for your share of the interest paid or incurred by the cooperative. File an amended tax return The interest must be on a debt to buy, build, change, improve, or maintain the cooperative's housing, or on a debt to buy the land. File an amended tax return   Figure your share of this interest by multiplying the total by the following fraction. File an amended tax return      Your shares of stock in the cooperative   The total shares of stock in the cooperative Limits on deduction. File an amended tax return   To figure how the limits discussed in Part II apply to you, treat your share of the cooperative's debt as debt incurred by you. File an amended tax return The cooperative should determine your share of its grandfathered debt, its home acquisition debt, and its home equity debt. File an amended tax return (Your share of each of these types of debt is equal to the average balance of each debt multiplied by the fraction just given. File an amended tax return ) After your share of the average balance of each type of debt is determined, you include it with the average balance of that type of debt secured by your stock. File an amended tax return Form 1098. File an amended tax return    The cooperative should give you a Form 1098 showing your share of the interest. File an amended tax return Use the rules in this publication to determine your deductible mortgage interest. File an amended tax return Part II. File an amended tax return Limits on Home Mortgage Interest Deduction This part of the publication discusses the limits on deductible home mortgage interest. File an amended tax return These limits apply to your home mortgage interest expense if you have a home mortgage that does not fit into any of the three categories listed at the beginning of Part I under Fully deductible interest . File an amended tax return Your home mortgage interest deduction is limited to the interest on the part of your home mortgage debt that is not more than your qualified loan limit. File an amended tax return This is the part of your home mortgage debt that is grandfathered debt or that is not more than the limits for home acquisition debt and home equity debt. File an amended tax return Table 1 can help you figure your qualified loan limit and your deductible home mortgage interest. File an amended tax return Home Acquisition Debt Home acquisition debt is a mortgage you took out after October 13, 1987, to buy, build, or substantially improve a qualified home (your main or second home). File an amended tax return It also must be secured by that home. File an amended tax return If the amount of your mortgage is more than the cost of the home plus the cost of any substantial improvements, only the debt that is not more than the cost of the home plus improvements qualifies as home acquisition debt. File an amended tax return The additional debt may qualify as home equity debt (discussed later). File an amended tax return Home acquisition debt limit. File an amended tax return   The total amount you can treat as home acquisition debt at any time on your main home and second home cannot be more than $1 million ($500,000 if married filing separately). File an amended tax return This limit is reduced (but not below zero) by the amount of your grandfathered debt (discussed later). File an amended tax return Debt over this limit may qualify as home equity debt (also discussed later). File an amended tax return Refinanced home acquisition debt. File an amended tax return   Any secured debt you use to refinance home acquisition debt is treated as home acquisition debt. File an amended tax return However, the new debt will qualify as home acquisition debt only up to the amount of the balance of the old mortgage principal just before the refinancing. File an amended tax return Any additional debt not used to buy, build, or substantially improve a qualified home is not home acquisition debt, but may qualify as home equity debt (discussed later). File an amended tax return Mortgage that qualifies later. File an amended tax return   A mortgage that does not qualify as home acquisition debt because it does not meet all the requirements may qualify at a later time. File an amended tax return For example, a debt that you use to buy your home may not qualify as home acquisition debt because it is not secured by the home. File an amended tax return However, if the debt is later secured by the home, it may qualify as home acquisition debt after that time. File an amended tax return Similarly, a debt that you use to buy property may not qualify because the property is not a qualified home. File an amended tax return However, if the property later becomes a qualified home, the debt may qualify after that time. File an amended tax return Mortgage treated as used to buy, build, or improve home. File an amended tax return   A mortgage secured by a qualified home may be treated as home acquisition debt, even if you do not actually use the proceeds to buy, build, or substantially improve the home. File an amended tax return This applies in the following situations. File an amended tax return You buy your home within 90 days before or after the date you take out the mortgage. File an amended tax return The home acquisition debt is limited to the home's cost, plus the cost of any substantial improvements within the limit described below in (2) or (3). File an amended tax return (See Example 1 later. File an amended tax return ) You build or improve your home and take out the mortgage before the work is completed. File an amended tax return The home acquisition debt is limited to the amount of the expenses incurred within 24 months before the date of the mortgage. File an amended tax return You build or improve your home and take out the mortgage within 90 days after the work is completed. File an amended tax return The home acquisition debt is limited to the amount of the expenses incurred within the period beginning 24 months before the work is completed and ending on the date of the mortgage. File an amended tax return (See Example 2 later. File an amended tax return ) Example 1. File an amended tax return You bought your main home on June 3 for $175,000. File an amended tax return You paid for the home with cash you got from the sale of your old home. File an amended tax return On July 15, you took out a mortgage of $150,000 secured by your main home. File an amended tax return You used the $150,000 to invest in stocks. File an amended tax return You can treat the mortgage as taken out to buy your home because you bought the home within 90 days before you took out the mortgage. File an amended tax return The entire mortgage qualifies as home acquisition debt because it was not more than the home's cost. File an amended tax return Example 2. File an amended tax return On January 31, John began building a home on the lot that he owned. File an amended tax return He used $45,000 of his personal funds to build the home. File an amended tax return The home was completed on October 31. File an amended tax return On November 21, John took out a $36,000 mortgage that was secured by the home. File an amended tax return The mortgage can be treated as used to build the home because it was taken out within 90 days after the home was completed. File an amended tax return The entire mortgage qualifies as home acquisition debt because it was not more than the expenses incurred within the period beginning 24 months before the home was completed. File an amended tax return This is illustrated by Figure C. File an amended tax return   Please click here for the text description of the image. File an amended tax return Figure C. File an amended tax return John's example Date of the mortgage. File an amended tax return   The date you take out your mortgage is the day the loan proceeds are disbursed. File an amended tax return This is generally the closing date. File an amended tax return You can treat the day you apply in writing for your mortgage as the date you take it out. File an amended tax return However, this applies only if you receive the loan proceeds within a reasonable time (such as within 30 days) after your application is approved. File an amended tax return If a timely application you make is rejected, a reasonable additional time will be allowed to make a new application. File an amended tax return Cost of home or improvements. File an amended tax return   To determine your cost, include amounts paid to acquire any interest in a qualified home or to substantially improve the home. File an amended tax return   The cost of building or substantially improving a qualified home includes the costs to acquire real property and building materials, fees for architects and design plans, and required building permits. File an amended tax return Substantial improvement. File an amended tax return   An improvement is substantial if it: Adds to the value of your home, Prolongs your home's useful life, or Adapts your home to new uses. File an amended tax return    Repairs that maintain your home in good condition, such as repainting your home, are not substantial improvements. File an amended tax return However, if you paint your home as part of a renovation that substantially improves your qualified home, you can include the painting costs in the cost of the improvements. File an amended tax return Acquiring an interest in a home because of a divorce. File an amended tax return   If you incur debt to acquire the interest of a spouse or former spouse in a home, because of a divorce or legal separation, you can treat that debt as home acquisition debt. File an amended tax return Part of home not a qualified home. File an amended tax return    To figure your home acquisition debt, you must divide the cost of your home and improvements between the part of your home that is a qualified home and any part that is not a qualified home. File an amended tax return See Divided use of your home under Qualified Home in Part I. File an amended tax return Home Equity Debt If you took out a loan for reasons other than to buy, build, or substantially improve your home, it may qualify as home equity debt. File an amended tax return In addition, debt you incurred to buy, build, or substantially improve your home, to the extent it is more than the home acquisition debt limit (discussed earlier), may qualify as home equity debt. File an amended tax return Home equity debt is a mortgage you took out after October 13, 1987, that: Does not qualify as home acquisition debt or as grandfathered debt, and Is secured by your qualified home. File an amended tax return Example. File an amended tax return You bought your home for cash 10 years ago. File an amended tax return You did not have a mortgage on your home until last year, when you took out a $50,000 loan, secured by your home, to pay for your daughter's college tuition and your father's medical bills. File an amended tax return This loan is home equity debt. File an amended tax return Home equity debt limit. File an amended tax return   There is a limit on the amount of debt that can be treated as home equity debt. File an amended tax return The total home equity debt on your main home and second home is limited to the smaller of: $100,000 ($50,000 if married filing separately), or The total of each home's fair market value (FMV) reduced (but not below zero) by the amount of its home acquisition debt and grandfathered debt. File an amended tax return Determine the FMV and the outstanding home acquisition and grandfathered debt for each home on the date that the last debt was secured by the home. File an amended tax return Example. File an amended tax return You own one home that you bought in 2000. File an amended tax return Its FMV now is $110,000, and the current balance on your original mortgage (home acquisition debt) is $95,000. File an amended tax return Bank M offers you a home mortgage loan of 125% of the FMV of the home less any outstanding mortgages or other liens. File an amended tax return To consolidate some of your other debts, you take out a $42,500 home mortgage loan [(125% × $110,000) − $95,000] with Bank M. File an amended tax return Your home equity debt is limited to $15,000. File an amended tax return This is the smaller of: $100,000, the maximum limit, or $15,000, the amount that the FMV of $110,000 exceeds the amount of home acquisition debt of $95,000. File an amended tax return Debt higher than limit. File an amended tax return   Interest on amounts over the home equity debt limit (such as the interest on $27,500 [$42,500 − $15,000] in the preceding example) generally is treated as personal interest and is not deductible. File an amended tax return But if the proceeds of the loan were used for investment, business, or other deductible purposes, the interest may be deductible. File an amended tax return If it is, see the Table 1 Instructions for line 13 for an explanation of how to allocate the excess interest. File an amended tax return Part of home not a qualified home. File an amended tax return   To figure the limit on your home equity debt, you must divide the FMV of your home between the part that is a qualified home and any part that is not a qualified home. File an amended tax return See Divided use of your home under Qualified Home in Part I. File an amended tax return Fair market value (FMV). File an amended tax return    This is the price at which the home would change hands between you and a buyer, neither having to sell or buy, and both having reasonable knowledge of all relevant facts. File an amended tax return Sales of similar homes in your area, on about the same date your last debt was secured by the home, may be helpful in figuring the FMV. File an amended tax return Grandfathered Debt If you took out a mortgage on your home before October 14, 1987, or you refinanced such a mortgage, it may qualify as grandfathered debt. File an amended tax return To qualify, it must have been secured by your qualified home on October 13, 1987, and at all times after that date. File an amended tax return How you used the proceeds does not matter. File an amended tax return Grandfathered debt is not limited. File an amended tax return All of the interest you paid on grandfathered debt is fully deductible home mortgage interest. File an amended tax return However, the amount of your grandfathered debt reduces the $1 million limit for home acquisition debt and the limit based on your home's fair market value for home equity debt. File an amended tax return Refinanced grandfathered debt. File an amended tax return   If you refinanced grandfathered debt after October 13, 1987, for an amount that was not more than the mortgage principal left on the debt, then you still treat it as grandfathered debt. File an amended tax return To the extent the new debt is more than that mortgage principal, it is treated as home acquisition or home equity debt, and the mortgage is a mixed-use mortgage (discussed later under Average Mortgage Balance in the Table 1 instructions). File an amended tax return The debt must be secured by the qualified home. File an amended tax return   You treat grandfathered debt that was refinanced after October 13, 1987, as grandfathered debt only for the term left on the debt that was refinanced. File an amended tax return After that, you treat it as home acquisition debt or home equity debt, depending on how you used the proceeds. File an amended tax return Exception. File an amended tax return   If the debt before refinancing was like a balloon note (the principal on the debt was not amortized over the term of the debt), then you treat the refinanced debt as grandfathered debt for the term of the first refinancing. File an amended tax return This term cannot be more than 30 years. File an amended tax return Example. File an amended tax return Chester took out a $200,000 first mortgage on his home in 1986. File an amended tax return The mortgage was a five-year balloon note and the entire balance on the note was due in 1991. File an amended tax return Chester refinanced the debt in 1991 with a new 20-year mortgage. File an amended tax return The refinanced debt is treated as grandfathered debt for its entire term (20 years). File an amended tax return Line-of-credit mortgage. File an amended tax return    If you had a line-of-credit mortgage on October 13, 1987, and borrowed additional amounts against it after that date, then the additional amounts are either home acquisition debt or home equity debt depending on how you used the proceeds. File an amended tax return The balance on the mortgage before you borrowed the additional amounts is grandfathered debt. File an amended tax return The newly borrowed amounts are not grandfathered debt because the funds were borrowed after October 13, 1987. File an amended tax return See Average Mortgage Balance in the Table 1 Instructions that follow. File an amended tax return Table 1 Instructions Unless you are subject to the overall limit on itemized deductions, you can deduct all of the interest you paid during the year on mortgages secured by your main home or second home in either of the following two situations. File an amended tax return All the mortgages are grandfathered debt. File an amended tax return The total of the mortgage balances for the entire year is within the limits discussed earlier under Home Acquisition Debt and Home Equity Debt . File an amended tax return In either of those cases, you do not need Table 1. File an amended tax return Otherwise, you can use Table 1 to determine your qualified loan limit and deductible home mortgage interest. File an amended tax return Fill out only one Table 1 for both your main and second home regardless of how many mortgages you have. File an amended tax return Table 1. File an amended tax return Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. File an amended tax return Part I Qualified Loan Limit 1. File an amended tax return Enter the average balance of all your grandfathered debt. File an amended tax return See line 1 instructions 1. File an amended tax return   2. File an amended tax return Enter the average balance of all your home acquisition debt. File an amended tax return See line 2 instructions 2. File an amended tax return   3. File an amended tax return Enter $1,000,000 ($500,000 if married filing separately) 3. File an amended tax return   4. File an amended tax return Enter the larger of the amount on line 1 or the amount on line 3 4. File an amended tax return   5. File an amended tax return Add the amounts on lines 1 and 2. File an amended tax return Enter the total here 5. File an amended tax return   6. File an amended tax return Enter the smaller of the amount on line 4 or the amount on line 5 6. File an amended tax return   7. File an amended tax return If you have home equity debt, enter the smaller of $100,000 ($50,000 if married filing separately) or your limited amount. File an amended tax return See the line 7 instructions for the limit which may apply to you. File an amended tax return 7. File an amended tax return   8. File an amended tax return Add the amounts on lines 6 and 7. File an amended tax return Enter the total. File an amended tax return This is your qualified loan limit. File an amended tax return 8. File an amended tax return   Part II Deductible Home Mortgage Interest 9. File an amended tax return Enter the total of the average balances of all mortgages on all qualified homes. File an amended tax return  See line 9 instructions 9. File an amended tax return     If line 8 is less than line 9, go on to line 10. File an amended tax return If line 8 is equal to or more than line 9, stop here. File an amended tax return All of your interest on all the mortgages included on line 9 is deductible as home mortgage interest on Schedule A (Form 1040). File an amended tax return     10. File an amended tax return Enter the total amount of interest that you paid. File an amended tax return See line 10 instructions 10. File an amended tax return   11. File an amended tax return Divide the amount on line 8 by the amount on line 9. File an amended tax return Enter the result as a decimal amount (rounded to three places) 11. File an amended tax return × . File an amended tax return 12. File an amended tax return Multiply the amount on line 10 by the decimal amount on line 11. File an amended tax return Enter the result. File an amended tax return This is your deductible home mortgage interest. File an amended tax return Enter this amount on Schedule A (Form 1040) 12. File an amended tax return   13. File an amended tax return Subtract the amount on line 12 from the amount on line 10. File an amended tax return Enter the result. File an amended tax return This is not home mortgage interest. File an amended tax return See line 13 instructions 13. File an amended tax return   Home equity debt only. File an amended tax return   If all of your mortgages are home equity debt, do not fill in lines 1 through 5. File an amended tax return Enter zero on line 6 and complete the rest of Table 1. File an amended tax return Average Mortgage Balance You have to figure the average balance of each mortgage to determine your qualified loan limit. File an amended tax return You need these amounts to complete lines 1, 2, and 9 of Table 1. File an amended tax return You can use the highest mortgage balances during the year, but you may benefit most by using the average balances. File an amended tax return The following are methods you can use to figure your average mortgage balances. File an amended tax return However, if a mortgage has more than one category of debt, see Mixed-use mortgages , later, in this section. File an amended tax return Average of first and last balance method. File an amended tax return   You can use this method if all the following apply. File an amended tax return You did not borrow any new amounts on the mortgage during the year. File an amended tax return (This does not include borrowing the original mortgage amount. File an amended tax return ) You did not prepay more than one month's principal during the year. File an amended tax return (This includes prepayment by refinancing your home or by applying proceeds from its sale. File an amended tax return ) You had to make level payments at fixed equal intervals on at least a semi-annual basis. File an amended tax return You treat your payments as level even if they were adjusted from time to time because of changes in the interest rate. File an amended tax return    To figure your average balance, complete the following worksheet. File an amended tax return    1. File an amended tax return Enter the balance as of the first day of the year that the mortgage was secured by your qualified home during the year (generally January 1)   2. File an amended tax return Enter the balance as of the last day of the year that the mortgage was secured by your qualified home during the year (generally December 31)   3. File an amended tax return Add amounts on lines 1 and 2   4. File an amended tax return Divide the amount on line 3 by 2. File an amended tax return Enter the result   Interest paid divided by interest rate method. File an amended tax return   You can use this method if at all times in 2013 the mortgage was secured by your qualified home and the interest was paid at least monthly. File an amended tax return    Complete the following worksheet to figure your average balance. File an amended tax return    1. File an amended tax return Enter the interest paid in 2013. File an amended tax return Do not include points, mortgage insurance premiums, or any interest paid in 2013 that is for a year after 2013. File an amended tax return However, do include interest that is for 2013 but was paid in an earlier year   2. File an amended tax return Enter the annual interest rate on the mortgage. File an amended tax return If the interest rate varied in 2013, use the lowest rate for the year   3. File an amended tax return Divide the amount on line 1 by the amount on line 2. File an amended tax return Enter the result   Example. File an amended tax return Mr. File an amended tax return Blue had a line of credit secured by his main home all year. File an amended tax return He paid interest of $2,500 on this loan. File an amended tax return The interest rate on the loan was 9% (. File an amended tax return 09) all year. File an amended tax return His average balance using this method is $27,778, figured as follows. File an amended tax return 1. File an amended tax return Enter the interest paid in 2013. File an amended tax return Do not include points, mortgage insurance premiums, or any interest paid in 2013 that is for a year after 2013. File an amended tax return However, do include interest that is for 2013 but was paid in an earlier year $2,500 2. File an amended tax return Enter the annual interest rate on the mortgage. File an amended tax return If the interest rate varied in 2013, use the lowest rate for the year . File an amended tax return 09 3. File an amended tax return Divide the amount on line 1 by the amount on line 2. File an amended tax return Enter the result $27,778 Statements provided by your lender. File an amended tax return   If you receive monthly statements showing the closing balance or the average balance for the month, you can use either to figure your average balance for the year. File an amended tax return You can treat the balance as zero for any month the mortgage was not secured by your qualified home. File an amended tax return   For each mortgage, figure your average balance by adding your monthly closing or average balances and dividing that total by the number of months the home secured by that mortgage was a qualified home during the year. File an amended tax return   If your lender can give you your average balance for the year, you can use that amount. File an amended tax return Example. File an amended tax return Ms. File an amended tax return Brown had a home equity loan secured by her main home all year. File an amended tax return She received monthly statements showing her average balance for each month. File an amended tax return She can figure her average balance for the year by adding her monthly average balances and dividing the total by 12. File an amended tax return Mixed-use mortgages. File an amended tax return   A mixed-use mortgage is a loan that consists of more than one of the three categories of debt (grandfathered debt, home acquisition debt, and home equity debt). File an amended tax return For example, a mortgage you took out during the year is a mixed-use mortgage if you used its proceeds partly to refinance a mortgage that you took out in an earlier year to buy your home (home acquisition debt) and partly to buy a car (home equity debt). File an amended tax return   Complete lines 1 and 2 of Table 1 by including the separate average balances of any grandfathered debt and home acquisition debt in your mixed-use mortgage. File an amended tax return Do not use the methods described earlier in this section to figure the average balance of either category. File an amended tax return Instead, for each category, use the following method. File an amended tax return Figure the balance of that category of debt for each month. File an amended tax return This is the amount of the loan proceeds allocated to that category, reduced by your principal payments on the mortgage previously applied to that category. File an amended tax return Principal payments on a mixed-use mortgage are applied in full to each category of debt, until its balance is zero, in the following order: First, any home equity debt, Next, any grandfathered debt, and Finally, any home acquisition debt. File an amended tax return Add together the monthly balances figured in (1). File an amended tax return Divide the result in (2) by 12. File an amended tax return   Complete line 9 of Table 1 by including the average balance of the entire mixed-use mortgage, figured under one of the methods described earlier in this section. File an amended tax return Example 1. File an amended tax return In 1986, Sharon took out a $1,400,000 mortgage to buy her main home (grandfathered debt). File an amended tax return On March 2, 2013, when the home had a fair market value of $1,700,000 and she owed $1,100,000 on the mortgage, Sharon took out a second mortgage for $200,000. File an amended tax return She used $180,000 of the proceeds to make substantial improvements to her home (home acquisition debt) and the remaining $20,000 to buy a car (home equity debt). File an amended tax return Under the loan agreement, Sharon must make principal payments of $1,000 at the end of each month. File an amended tax return During 2013, her principal payments on the second mortgage totaled $10,000. File an amended tax return To complete Table 1, line 2, Sharon must figure a separate average balance for the part of her second mortgage that is home acquisition debt. File an amended tax return The January and February balances were zero. File an amended tax return The March through December balances were all $180,000, because none of her principal payments are applied to the home acquisition debt. File an amended tax return (They are all applied to the home equity debt, reducing it to $10,000 [$20,000 − $10,000]. File an amended tax return ) The monthly balances of the home acquisition debt total $1,800,000 ($180,000 × 10). File an amended tax return Therefore, the average balance of the home acquisition debt for 2013 was $150,000 ($1,800,000 ÷ 12). File an amended tax return Example 2. File an amended tax return The facts are the same as in Example 1. File an amended tax return In 2014, Sharon's January through October principal payments on her second mortgage are applied to the home equity debt, reducing it to zero. File an amended tax return The balance of the home acquisition debt remains $180,000 for each of those months. File an amended tax return Because her November and December principal payments are applied to the home acquisition debt, the November balance is $179,000 ($180,000 − $1,000) and the December balance is $178,000 ($180,000 − $2,000). File an amended tax return The monthly balances total $2,157,000 [($180,000 × 10) + $179,000 + $178,000]. File an amended tax return Therefore, the average balance of the home acquisition debt for 2014 is $179,750 ($2,157,000 ÷ 12). File an amended tax return L
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The File An Amended Tax Return

File an amended tax return 6. File an amended tax return   Dual-Status Tax Year Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Tax Year Income Subject to Tax Restrictions for Dual-Status Taxpayers Exemptions How To Figure TaxIncome Tax Credits and Payments Forms To File When and Where To File Introduction You have a dual-status tax year when you have been both a resident alien and a nonresident alien in the same year. File an amended tax return Dual status does not refer to your citizenship; it refers only to your resident status in the United States. File an amended tax return In determining your U. File an amended tax return S. File an amended tax return income tax liability for a dual-status tax year, different rules apply for the part of the year you are a resident of the United States and the part of the year you are a nonresident. File an amended tax return The most common dual-status tax years are the years of arrival and departure. File an amended tax return See Dual-Status Aliens in chapter 1. File an amended tax return If you are married and choose to be treated as a U. File an amended tax return S. File an amended tax return resident for the entire year, as explained in chapter 1, the rules of this chapter do not apply to you for that year. File an amended tax return Topics - This chapter discusses: Income subject to tax, Restrictions for dual-status taxpayers, Exemptions, How to figure the tax, Forms to file, When and where to file, and How to fill out a dual-status return. File an amended tax return Useful Items - You may want to see: Publication 503 Child and Dependent Care Expenses 514 Foreign Tax Credit for Individuals 575 Pension and Annuity Income Form (and Instructions) 1040 U. File an amended tax return S. File an amended tax return Individual Income Tax Return 1040-C U. File an amended tax return S. File an amended tax return Departing Alien Income Tax Return 1040-ES Estimated Tax for Individuals 1040-ES (NR) U. File an amended tax return S. File an amended tax return Estimated Tax for Nonresident Alien Individuals 1040NR U. File an amended tax return S. File an amended tax return Nonresident Alien Income Tax Return 1116 Foreign Tax Credit See chapter 12 for information about getting these publications and forms. File an amended tax return Tax Year You must file your tax return on the basis of an annual accounting period called a tax year. File an amended tax return If you have not previously established a fiscal tax year, your tax year is the calendar year. File an amended tax return A calendar year is 12 consecutive months ending on December 31. File an amended tax return If you have previously established a regular fiscal year (12 consecutive months ending on the last day of a month other than December, or a 52–53 week year) and are considered to be a U. File an amended tax return S. File an amended tax return resident for any calendar year, you will be treated as a U. File an amended tax return S. File an amended tax return resident for any part of your fiscal year that falls within that calendar year. File an amended tax return Income Subject to Tax For the part of the year you are a resident alien, you are taxed on income from all sources. File an amended tax return Income from sources outside the United States is taxable if you receive it while you are a resident alien. File an amended tax return The income is taxable even if you earned it while you were a nonresident alien or if you became a nonresident alien after receiving it and before the end of the year. File an amended tax return For the part of the year you are a nonresident alien, you are taxed on income from U. File an amended tax return S. File an amended tax return sources and on certain foreign source income treated as effectively connected with a U. File an amended tax return S. File an amended tax return trade or business. File an amended tax return (The rules for treating foreign source income as effectively connected are discussed in chapter 4 under Foreign Income. File an amended tax return ) Income from sources outside the United States that is not effectively connected with a trade or business in the United States is not taxable if you receive it while you are a nonresident alien. File an amended tax return The income is not taxable even if you earned it while you were a resident alien or if you became a resident alien or a U. File an amended tax return S. File an amended tax return citizen after receiving it and before the end of the year. File an amended tax return Income from U. File an amended tax return S. File an amended tax return sources is taxable whether you receive it while a nonresident alien or a resident alien unless specifically exempt under the Internal Revenue Code or a tax treaty provision. File an amended tax return Generally, tax treaty provisions apply only to the part of the year you were a nonresident. File an amended tax return In certain cases, however, treaty provisions may apply while you were a resident alien. File an amended tax return See chapter 9 for more information. File an amended tax return When determining what income is taxed in the United States, you must consider exemptions under U. File an amended tax return S. File an amended tax return tax law as well as the reduced tax rates and exemptions provided by tax treaties between the United States and certain foreign countries. File an amended tax return For a further discussion of tax treaties, see chapter 9. File an amended tax return Restrictions for Dual-Status Taxpayers The following restrictions apply if you are filing a tax return for a dual-status tax year. File an amended tax return 1) Standard deduction. File an amended tax return   You cannot use the standard deduction allowed on Form 1040. File an amended tax return However, you can itemize any allowable deductions. File an amended tax return 2) Exemptions. File an amended tax return   Your total deduction for the exemptions for your spouse and allowable dependents cannot be more than your taxable income (figured without deducting personal exemptions) for the period you are a resident alien. File an amended tax return 3) Head of household. File an amended tax return   You cannot use the head of household Tax Table column or Tax Computation Worksheet. File an amended tax return 4) Joint return. File an amended tax return   You cannot file a joint return. File an amended tax return However, see Choosing Resident Alien Status under Dual-Status Aliens in chapter 1. File an amended tax return 5) Tax rates. File an amended tax return   If you are married and a nonresident of the United States for all or part of the tax year and you do not choose to file jointly as discussed in chapter 1, you must use the Tax Table column or Tax Computation Worksheet for married filing separately to figure your tax on income effectively connected with a U. File an amended tax return S. File an amended tax return trade or business. File an amended tax return You cannot use the Tax Table column or Tax Computation Worksheet for married filing jointly or single. File an amended tax return However, you may be able to file as single if you lived apart from your spouse during the last 6 months of the year and you are a: Married resident of Canada, Mexico, or South Korea, or Married U. File an amended tax return S. File an amended tax return national. File an amended tax return  See the instructions for Form 1040NR to see if you qualify. File an amended tax return    A U. File an amended tax return S. File an amended tax return national is an individual who, although not a U. File an amended tax return S. File an amended tax return citizen, owes his or her allegiance to the United States. File an amended tax return U. File an amended tax return S. File an amended tax return nationals include American Samoans and Northern Mariana Islanders who chose to become U. File an amended tax return S. File an amended tax return nationals instead of U. File an amended tax return S. File an amended tax return citizens. File an amended tax return 6) Tax credits. File an amended tax return   You cannot claim the education credits, the earned income credit, or the credit for the elderly or the disabled unless: You are married, and You choose to be treated as a resident for all of 2013 by filing a joint return with your spouse who is a U. File an amended tax return S. File an amended tax return citizen or resident, as discussed in chapter 1. File an amended tax return Exemptions As a dual-status taxpayer, you usually will be able to claim your own personal exemption. File an amended tax return Subject to the general rules for qualification, you can claim exemptions for your spouse and dependents when you figure taxable income for the part of the year you are a resident alien. File an amended tax return The amount you can claim for these exemptions is limited to your taxable income (figured before subtracting exemptions) for the part of the year you are a resident alien. File an amended tax return You cannot use exemptions (other than your own) to reduce taxable income to less than zero for that period. File an amended tax return Special rules apply to exemptions for the part of the tax year you are a nonresident alien if you are a: Resident of Canada, Mexico, or South Korea, U. File an amended tax return S. File an amended tax return national, or Student or business apprentice from India. File an amended tax return For more information, see Exemptions in chapter 5. File an amended tax return How To Figure Tax When you figure your U. File an amended tax return S. File an amended tax return tax for a dual-status year, you are subject to different rules for the part of the year you are a resident and the part of the year you are a nonresident. File an amended tax return Income All income for your period of residence and all income that is effectively connected with a trade or business in the United States for your period of nonresidence, after allowable deductions, is added and taxed at the rates that apply to U. File an amended tax return S. File an amended tax return citizens and residents. File an amended tax return Income that is not connected with a trade or business in the United States for your period of nonresidence is subject to the flat 30% rate or lower treaty rate. File an amended tax return You cannot take any deductions against this income. File an amended tax return Social security and railroad retirement benefits. File an amended tax return   During the part of the year you are a nonresident alien, 85% of any U. File an amended tax return S. File an amended tax return social security benefits (and the equivalent portion of tier 1 railroad retirement benefits) you receive is subject to the flat 30% tax, unless exempt, or subject to a lower treaty rate. File an amended tax return (See The 30% Tax in chapter 4. File an amended tax return )   During the part of the year you are a resident alien, part of the social security and the equivalent portion of tier 1 railroad retirement benefits will be taxed at graduated rates if your modified adjusted gross income plus half of these benefits is more than a certain base amount. File an amended tax return Use the Social Security Benefits Worksheet in the Form 1040 instructions to help you figure the taxable part of your social security and equivalent tier 1 railroad retirement benefits for the part of the year you were a resident alien. File an amended tax return If you received U. File an amended tax return S. File an amended tax return social security benefits while you were a nonresident alien, the Social Security Administration will send you Form SSA-1042S showing your combined benefits for the entire year and the amount of tax withheld. File an amended tax return You will not receive separate statements for the benefits received during your periods of U. File an amended tax return S. File an amended tax return residence and nonresidence. File an amended tax return Therefore, it is important for you to keep careful records of these amounts. File an amended tax return You will need this information to properly complete your return and determine your tax liability. File an amended tax return If you received railroad retirement benefits while you were a nonresident alien, the U. File an amended tax return S. File an amended tax return Railroad Retirement Board (RRB) will send you Form RRB-1042S, Statement for Nonresident Alien Recipients of Payments by the Railroad Retirement Board, and/or Form RRB-1099-R, Annuities or Pensions by the Railroad Retirement Board. File an amended tax return If your country of legal residence changed or your rate of tax changed during the tax year, you may receive more than one form. File an amended tax return Tax Credits and Payments This discussion covers tax credits and payments for dual-status aliens. File an amended tax return Credits As a dual-status alien, you generally can claim tax credits using the same rules that apply to resident aliens. File an amended tax return There are certain restrictions that may apply. File an amended tax return These restrictions are discussed here, along with a brief explanation of credits often claimed by individuals. File an amended tax return Foreign tax credit. File an amended tax return   If you have paid or are liable for the payment of income tax to a foreign country on income from foreign sources, you may be able to claim a credit for the foreign taxes. File an amended tax return   If you claim the foreign tax credit, you generally must file Form 1116 with your income tax return. File an amended tax return For more information, see the Instructions for Form 1116 and Publication 514. File an amended tax return Child and dependent care credit. File an amended tax return   You may qualify for this credit if you pay someone to care for your qualifying child who is under age 13, or your disabled dependent or disabled spouse so that you can work or look for work. File an amended tax return Generally, you must be able to claim an exemption for your dependent. File an amended tax return   Married dual-status aliens can claim the credit only if they choose to file a joint return as discussed in chapter 1, or if they qualify as certain married individuals living apart. File an amended tax return   The amount of your child and dependent care expense that qualifies for the credit in any tax year cannot be more than your earned income for that tax year. File an amended tax return   For more information, get Publication 503 and Form 2441. File an amended tax return Retirement savings contributions credit. File an amended tax return   You may qualify for this credit (also known as the saver's credit) if you made eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement (IRA) in 2013. File an amended tax return You cannot claim this credit if: You were born after January 1, 1996, You were a full-time student, Your exemption is claimed by someone else on his or her 2013 tax return, or Your adjusted gross income is more than $29,500. File an amended tax return Use Form 8880 to figure the credit. File an amended tax return For more information, see Publication 590. File an amended tax return Child tax credit. File an amended tax return   You may be able to take this credit if you have a qualifying child. File an amended tax return   A qualifying child for purposes of the child tax credit is a child who: Was under age 17 at the end of 2013. File an amended tax return Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, half brother, half sister, or a descendant of any of them (for example, your grandchild, niece, or nephew). File an amended tax return Is a U. File an amended tax return S. File an amended tax return citizen, a U. File an amended tax return S. File an amended tax return national, or a resident alien. File an amended tax return Did not provide over half of his or her own support for 2013. File an amended tax return Lived with you more than half of 2013. File an amended tax return Temporary absences, such as for school, vacation, or medical care, count as time lived in the home. File an amended tax return Is claimed as a dependent on your return. File an amended tax return An adopted child is always treated as your own child. File an amended tax return An adopted child includes a child lawfully placed with you for legal adoption. File an amended tax return   See your form instructions for additional details. File an amended tax return Adoption credit. File an amended tax return   You may qualify to take a tax credit of up to $12,970 for qualifying expenses paid to adopt an eligible child. File an amended tax return This amount may be allowed for the adoption of a child with special needs regardless of whether you have qualifying expenses. File an amended tax return To claim the adoption credit, file Form 8839 with the U. File an amended tax return S. File an amended tax return income tax return that you file. File an amended tax return   Married dual-status aliens can claim the credit only if they choose to file a joint return with a U. File an amended tax return S. File an amended tax return citizen or resident spouse as discussed in chapter 1, or if they qualify as certain married individuals living apart (see Married Persons Not Filing Jointly in the Form 8839 instructions). File an amended tax return Payments You can report as payments against your U. File an amended tax return S. File an amended tax return income tax liability certain taxes you paid, are considered to have paid, or that were withheld from your income. File an amended tax return These include: Tax withheld from wages earned in the United States, Taxes withheld at the source from various items of income from U. File an amended tax return S. File an amended tax return sources other than wages, Estimated tax paid with Form 1040-ES or Form 1040-ES (NR), and Tax paid with Form 1040-C, at the time of departure from the United States. File an amended tax return Forms To File The U. File an amended tax return S. File an amended tax return income tax return you must file as a dual-status alien depends on whether you are a resident alien or a nonresident alien at the end of the tax year. File an amended tax return Resident at end of year. File an amended tax return   You must file Form 1040 if you are a dual-status taxpayer who becomes a resident during the year and who is a U. File an amended tax return S. File an amended tax return resident on the last day of the tax year. File an amended tax return Write “Dual-Status Return” across the top of the return. File an amended tax return Attach a statement to your return to show the income for the part of the year you are a nonresident. File an amended tax return You can use Form 1040NR or Form 1040NR-EZ as the statement, but be sure to mark “Dual-Status Statement” across the top. File an amended tax return Nonresident at end of year. File an amended tax return   You must file Form 1040NR or Form 1040NR-EZ if you are a dual-status taxpayer who gives up residence in the United States during the year and who is not a U. File an amended tax return S. File an amended tax return resident on the last day of the tax year. File an amended tax return Write “Dual-Status Return” across the top of the return. File an amended tax return Attach a statement to your return to show the income for the part of the year you are a resident. File an amended tax return You can use Form 1040 as the statement, but be sure to mark “Dual-Status Statement” across the top. File an amended tax return   If you expatriated or terminated your residency in 2013, you may be required to file an expatriation statement (Form 8854) with your tax return. File an amended tax return For more information, see Expatriation Tax in chapter 4. File an amended tax return Statement. File an amended tax return   Any statement must have your name, address, and taxpayer identification number on it. File an amended tax return You do not need to sign a separate statement or schedule accompanying your return, because your signature on the return also applies to the supporting statements and schedules. File an amended tax return When and Where To File If you are a resident alien on the last day of your tax year and report your income on a calendar year basis, you must file no later than April 15 of the year following the close of your tax year. File an amended tax return If you report your income on other than a calendar year basis, file your return no later than the 15th day of the 4th month following the close of your tax year. File an amended tax return In either case, file your return with the address for dual-status aliens shown on the back page of the Form 1040 instructions. File an amended tax return If you are a nonresident alien on the last day of your tax year and you report your income on a calendar year basis, you must file no later than April 15 of the year following the close of your tax year if you receive wages subject to withholding. File an amended tax return If you report your income on other than a calendar year basis, file your return no later than the 15th day of the 4th month following the close of your tax year. File an amended tax return If you did not receive wages subject to withholding and you report your income on a calendar year basis, you must file no later than June 15 of the year following the close of your tax year. File an amended tax return If you report your income on other than a calendar year basis, file your return no later than the 15th day of the 6th month following the close of your tax year. File an amended tax return In any case, mail your return to:  Department of the Treasury Internal Revenue Service  Austin, TX 73301-0215 If enclosing a payment, mail your return to:  Internal Revenue Service  P. File an amended tax return O. File an amended tax return Box 1303 Charlotte, NC 28201-1303 If the regular due date for filing falls on a Saturday, Sunday, or legal holiday, the due date is the next day that is not a Saturday, Sunday, or legal holiday. File an amended tax return Prev  Up  Next   Home   More Online Publications