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Filing Your State Taxes For Free

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Filing Your State Taxes For Free

Filing your state taxes for free Index A Accounting method Accrual, Accrual Method, Accrual method. Filing your state taxes for free Automatic procedures, Automatic change procedures. Filing your state taxes for free Cash, Cash Method, Cash method. Filing your state taxes for free Change in, Change in Accounting Method Combination, Combination Method Special, Special Methods Accounting periods, Accounting Periods Accrual method Income - general rule, Income—General Rule Income - special rules, Income—Special Rules Of accounting, Accrual Method Adjusted basis, Adjusted basis. Filing your state taxes for free Administrator, Executor or administrator. Filing your state taxes for free Alternative fuel vehicle refueling property credit, Alternative fuel vehicle refueling property credit (Form 8911). Filing your state taxes for free Alternative motor vehicle credit, Alternative motor vehicle credit (Form 8910). Filing your state taxes for free Appeal rights, Appeals. Filing your state taxes for free Appreciation, Appreciation. Filing your state taxes for free Audits, Examinations (audits). Filing your state taxes for free Automobile (see Car expenses) B Bad debts, Bad Debts Barter income, Bartering for Property or Services Basis of property, Basis. Filing your state taxes for free Bribes, Expenses You Cannot Deduct Business expenses, Business Expenses Business income, Business Income Business use of your home, Business Use of Your Home C Canceled debt, Canceled Debt Cancellation of qualified real property business debt, Cancellation of qualified real property business debt. Filing your state taxes for free Capital gain or loss, Is My Gain or Loss Ordinary or Capital? Car expenses, Car and Truck Expenses, Methods for Deducting Car and Truck Expenses Carbon dioxide sequestration credit, Carbon dioxide sequestration credit (Form 8933). Filing your state taxes for free Cash discount, Cash discounts. Filing your state taxes for free , Cash discounts. Filing your state taxes for free Cash method Expenses, Expenses Income, Income Changing accounting method, Changing accounting method. Filing your state taxes for free Charitable contributions, Expenses You Cannot Deduct Child employed by parent, Child employed by parent. Filing your state taxes for free Claim for refund, Refunds. Filing your state taxes for free Collection of tax, Collections. Filing your state taxes for free Combination method of accounting, Combination Method Comments on publication, Comments and suggestions. Filing your state taxes for free Condemned property, Condemned property. Filing your state taxes for free Consignments, Consignments. Filing your state taxes for free Construction allowances, Construction allowances. Filing your state taxes for free Cost of goods sold, How To Figure Cost of Goods Sold Credit Alternative fuel vehicle refueling property, Alternative fuel vehicle refueling property credit (Form 8911). Filing your state taxes for free Alternative motor vehicle, Alternative motor vehicle credit (Form 8910). Filing your state taxes for free Carbon dioxide sequestration, Carbon dioxide sequestration credit (Form 8933). Filing your state taxes for free Disabled access, Disabled access credit (Form 8826). Filing your state taxes for free Distilled spirits, Distilled spirits credit (Form 8906). Filing your state taxes for free Employer-provided childcare, Credit for employer-provided childcare facilities and services (Form 8882). Filing your state taxes for free How to claim, How To Claim the Credit Indian coal, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Filing your state taxes for free Investment, Investment credit (Form 3468). Filing your state taxes for free Low sulfur diesel fuel production, Low sulfur diesel fuel production credit (Form 8896). Filing your state taxes for free Low-income housing, Low-income housing credit (Form 8586). Filing your state taxes for free New markets, New markets credit (Form 8874). Filing your state taxes for free Nonconventional source fuel, Nonconventional source fuel credit (Form 8907). Filing your state taxes for free Orphan drug, Orphan drug credit (Form 8820). Filing your state taxes for free Qualified plug-in electric drive motor vehicle, Qualified plug-in electric drive motor vehicle credit (Form 8936). Filing your state taxes for free Refined coal, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Filing your state taxes for free Renewable electricity, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Filing your state taxes for free Small employer health insurance premiums, Credit for small employer health insurance premiums (Form 8941). Filing your state taxes for free Small employer pension plan startup costs, Credit for small employer pension plan startup costs (Form 8881). Filing your state taxes for free Taxes paid on certain employee tips, Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846). Filing your state taxes for free Work opportunity, Work opportunity credit (Form 5884). Filing your state taxes for free D Damages, Damages. Filing your state taxes for free Debt Bad, Bad Debts Canceled, Canceled Debt Qualified real property business, Qualified real property business debt. Filing your state taxes for free Refund offset against, Offset against debts. Filing your state taxes for free Definitions Accounting methods, Accounting Methods Accounting periods, Accounting Periods Barter, Bartering for Property or Services Basis, Basis. Filing your state taxes for free Business bad debt, Business bad debt. Filing your state taxes for free Calendar tax year, Calendar tax year. Filing your state taxes for free Cash discount, Cash discounts. Filing your state taxes for free , Cash discounts. Filing your state taxes for free Disposition of property, What Is a Disposition of Property? Drawing account, Merchandise withdrawn from sale. Filing your state taxes for free Entertainment expenses, Entertainment expenses. Filing your state taxes for free Fair market value, Fair market value. Filing your state taxes for free Fiscal tax year, Fiscal tax year. Filing your state taxes for free Fringe benefit, Fringe benefits. Filing your state taxes for free Local transportation expenses, Local transportation expenses. Filing your state taxes for free Necessary expense, Introduction Net operating loss, Net Operating Losses (NOLs) Nonbusiness bad debt, Nonbusiness bad debts. Filing your state taxes for free Ordinary expense, Introduction Principal place of business, Principal place of business. Filing your state taxes for free Qualified long-term real property, Qualified long-term real property. Filing your state taxes for free Qualified real property business debt, Cancellation of qualified real property business debt. Filing your state taxes for free Rent, Rent Expense Restricted property, Other Income Retail space, Retail space. Filing your state taxes for free Self-employment (SE) tax, Self-Employment (SE) Tax Sole proprietor, Sole proprietor. Filing your state taxes for free Tax home, Local transportation expenses. Filing your state taxes for free Trade discount, Trade discounts. Filing your state taxes for free , Cash discounts. Filing your state taxes for free Travel expenses, Travel, Meals, and Entertainment Depreciation Deduction, Depreciation Listed property, Listed property. Filing your state taxes for free Depreciation, recapture, Recapture of depreciation. Filing your state taxes for free Direct seller, Direct seller. Filing your state taxes for free , Real estate agent or direct seller. Filing your state taxes for free Disabled access credit, Disabled access credit (Form 8826). Filing your state taxes for free Disposition of property Business property, Introduction Installment sale, Installment sales. Filing your state taxes for free , Installment sales. Filing your state taxes for free Like-kind exchange, Like-kind exchanges. Filing your state taxes for free , Like-kind exchanges. Filing your state taxes for free , Exchange of like-kind property. Filing your state taxes for free Nontaxable exchange, Nontaxable exchanges. Filing your state taxes for free Sale of a business, Sale of a business. Filing your state taxes for free Distilled spirits credit, Distilled spirits credit (Form 8906). Filing your state taxes for free Dividend income, Interest and Dividend Income Donation of inventory, Donation of inventory. Filing your state taxes for free Drawing account, Merchandise withdrawn from sale. Filing your state taxes for free Due date of return, When Is My Tax Return Due? E e-file, IRS e-file (Electronic Filing) Economic injury, Economic injury. Filing your state taxes for free EFTPS, EFTPS Electronic filing, IRS e-file (Electronic Filing) Employee, Employee. Filing your state taxes for free Employee benefit programs, Fringe benefits. Filing your state taxes for free Employees' pay, Employees' Pay Employer identification number (EIN), Employer identification number (EIN). Filing your state taxes for free Employment taxes About, Employment Taxes Deduction for, Employment taxes. Filing your state taxes for free Entertainment expenses, Entertainment expenses. Filing your state taxes for free (see Travel expenses) Escrow, payments placed in, Payment placed in escrow. Filing your state taxes for free Estimated tax, How Do I Pay Income Tax? Examinations (audits), Examinations (audits). Filing your state taxes for free Excise taxes About, Excise Taxes Deduction for, Excise taxes. Filing your state taxes for free Executor, Executor or administrator. Filing your state taxes for free Expenses, Business Expenses Bad debts, Bad Debts Car, Car and Truck Expenses Depreciation, Depreciation Employees' pay, Employees' Pay Entertainment, Travel, Meals, and Entertainment Home, business use, Business Use of Your Home Insurance, Insurance Interest, Interest Legal and professional fees, Legal and Professional Fees Meals, Travel, Meals, and Entertainment Nondeductible, Expenses You Cannot Deduct Other, Other Expenses You Can Deduct Pension plans, Pension Plans Rent, Rent Expense Taxes, Taxes Travel, Travel, Meals, and Entertainment Truck, Car and Truck Expenses F Fair market value, Fair market value. Filing your state taxes for free Filing business taxes, Filing and Paying Business Taxes Fishing crew member, Fishing crew member. Filing your state taxes for free , Fishing crew member. Filing your state taxes for free Form 1040 (tax return), How Do I File? 1040-ES (estimated tax), How Do I Pay Income Tax? 1040-V (voucher), Balance due. Filing your state taxes for free 1099-B (barter), Information returns. Filing your state taxes for free 1099-MISC (miscellaneous), Form 1099-MISC. Filing your state taxes for free , Information returns. Filing your state taxes for free 1128 (change tax year), Change in tax year. Filing your state taxes for free 2210 (underpayment of estimated tax), Penalty for underpayment of tax. Filing your state taxes for free 2290 (excise tax for heavy trucks), Form 2290. Filing your state taxes for free 3115 (change accounting method), Change in Accounting Method 3468 (investment credit), Investment credit (Form 3468). Filing your state taxes for free 3800 (general business credit), Useful Items - You may want to see: 4562 (depreciation), Form 4562. Filing your state taxes for free 4684 (casualty and theft), Casualties and thefts. Filing your state taxes for free 4797 (sale of business property), Dispositions of business property and depreciable property. Filing your state taxes for free , Condemned property. Filing your state taxes for free , Listed property. Filing your state taxes for free 4868 (extension), When Is My Tax Return Due? 5884 (work opportunity credit), Work opportunity credit (Form 5884). Filing your state taxes for free 6251 (alternative minimum tax), Useful Items - You may want to see: 6252 (installment sale), Installment sales. Filing your state taxes for free 720 (excise tax return), Form 720. Filing your state taxes for free 8300 (cash payments over $10,000), Form 8300. Filing your state taxes for free 8586 (low-income housing), Low-income housing credit (Form 8586). Filing your state taxes for free 8594 (asset acquisition), Sale of a business. Filing your state taxes for free 8820 (orphan drug credit), Orphan drug credit (Form 8820). Filing your state taxes for free 8824 (like-kind exchange), Like-kind exchanges. Filing your state taxes for free , Like-kind exchanges. Filing your state taxes for free 8826 (disabled access credit), Disabled access credit (Form 8826). Filing your state taxes for free 8829 (business in home), Deduction limit. Filing your state taxes for free 8835 (renewable electricity, coal credit), Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Filing your state taxes for free 8846 (credit for social security on tip income), Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846). Filing your state taxes for free 8857 (innocent spouse), Innocent spouse relief. Filing your state taxes for free 8874 (new markets credit), New markets credit (Form 8874). Filing your state taxes for free 8879 (self-selected PIN), Using an Authorized IRS e-file Provider 8881 (pension plan startup costs credit), Credit for small employer pension plan startup costs (Form 8881). Filing your state taxes for free 8882 (employer-provided childcare credit), Credit for employer-provided childcare facilities and services (Form 8882). Filing your state taxes for free 8886 (transaction statement), Reminders 8896 (low sulfur diesel fuel production credit), Low sulfur diesel fuel production credit (Form 8896). Filing your state taxes for free 8906 (distilled spirits credit), Distilled spirits credit (Form 8906). Filing your state taxes for free 8907 (nonconventional fuel credit), Nonconventional source fuel credit (Form 8907). Filing your state taxes for free 8910 (alternative vehicle credit), Alternative motor vehicle credit (Form 8910). Filing your state taxes for free , Car and Truck Expenses 8911 (alternative fuel refueling property credit), Alternative fuel vehicle refueling property credit (Form 8911). Filing your state taxes for free 8933 (carbon dioxide sequestration credit), Carbon dioxide sequestration credit (Form 8933). Filing your state taxes for free 8936 (qualified plug-in electric drive motor vehicle), Qualified plug-in electric drive motor vehicle credit (Form 8936). Filing your state taxes for free 8941 (small employer health insurance premiums), Credit for small employer health insurance premiums (Form 8941). Filing your state taxes for free 982 (discharge of indebtedness), Exclusions Schedule C (sole proprietor), How Do I File? Schedule C-EZ (sole proprietor), How Do I File? Schedule SE (self-employment tax), Who must pay self-employment tax. Filing your state taxes for free SS-4 (application for EIN), Employer identification number (EIN). Filing your state taxes for free SS-5 (application for SSN), Social security number (SSN). Filing your state taxes for free W-2 (report wages), Form W-2. Filing your state taxes for free W-4 (employee withholding), Employee. Filing your state taxes for free W-7 (application for ITIN), Individual taxpayer identification number (ITIN). Filing your state taxes for free W-9 (request for TIN), Other payee. Filing your state taxes for free Fringe benefits, Fringe benefits. Filing your state taxes for free Fuel taxes, Fuel taxes. Filing your state taxes for free G Gains and losses, Gains and losses. Filing your state taxes for free General business credits, General Business Credits, Business Credits Gross profit Accuracy, Testing Gross Profit Accuracy Additions to, Additions to Gross Profit Guidelines for selected occupations, Guidelines for Selected Occupations (see also Occupations, selected) H Health insurance, deduction for self-employed, Self-employed health insurance deduction. Filing your state taxes for free Home, business use of, Business Use of Your Home Hotels, boarding houses, and apartments, Hotels, boarding houses, and apartments. Filing your state taxes for free Husband and wife business, Business owned and operated by spouses. Filing your state taxes for free I Identification numbers, Identification Numbers Income, Items That Are Not Income (see also Not income) Accounting for your, Accounting for Your Income Barter, Bartering for Property or Services Business, Business Income Damages, Damages. Filing your state taxes for free Gains and losses, Gains and losses. Filing your state taxes for free Kickbacks, Kickbacks. Filing your state taxes for free Kinds of income, Kinds of Income Lost income payments, Lost income payments. Filing your state taxes for free Other, Other Income Paid to a third party, Income paid to a third party. Filing your state taxes for free Personal property rent, Personal Property Rents Promissory notes, Promissory notes. Filing your state taxes for free Recapture of depreciation, Recapture of depreciation. Filing your state taxes for free Recovery of items previously deducted, Recovery of items previously deducted. Filing your state taxes for free Rental, Real Estate Rents, Personal Property Rents Restricted property, Restricted property. Filing your state taxes for free Income tax About, Income Tax Deduction for, Income taxes. Filing your state taxes for free How to pay, How Do I Pay Income Tax? Underpayment penalty, Penalty for underpayment of tax. Filing your state taxes for free Income tax return, who must file, Do I Have To File an Income Tax Return? Independent contractor, Independent contractor. Filing your state taxes for free , Employment Taxes, Sole proprietor or independent contractor. Filing your state taxes for free Individual taxpayer identification number (ITIN), Individual taxpayer identification number (ITIN). Filing your state taxes for free Information returns, Information Returns Information, How to get more, How To Get More Information Innocent spouse relief, Innocent spouse relief. Filing your state taxes for free Installment sales, Installment sales. Filing your state taxes for free Insurance Expense, Insurance Nondeductible premiums, Nondeductible premiums. Filing your state taxes for free Prepayment, Prepayment. Filing your state taxes for free Proceeds, Insurance proceeds. Filing your state taxes for free Self-employed health, Self-employed health insurance deduction. Filing your state taxes for free Insurance agent Former, Insurance agent, former. Filing your state taxes for free Retired, Insurance agent, retired. Filing your state taxes for free Interest Expenses, Interest Income, Interest and Dividend Income Inventories, Inventories Investment credit, Investment credit (Form 3468). Filing your state taxes for free K Kickbacks, Kickbacks. Filing your state taxes for free , Expenses You Cannot Deduct L Lease bonus, Lease bonus. Filing your state taxes for free Lease cancellation payments, Lease cancellation payments. Filing your state taxes for free Legal fees, Legal and Professional Fees Like-kind exchanges, Like-kind exchanges. Filing your state taxes for free , Exchange of like-kind property. Filing your state taxes for free Limited liability company, Limited liability company (LLC). Filing your state taxes for free Listed property, Listed property. Filing your state taxes for free Lobbying expense, Expenses You Cannot Deduct Local transportation expenses, Local transportation expenses. Filing your state taxes for free Lodging, Meals and lodging. Filing your state taxes for free Long-term capital gain or loss, Is My Capital Gain or Loss Short Term or Long Term? Lost income payments, Lost income payments. Filing your state taxes for free Low sulfur diesel fuel production credit, Low sulfur diesel fuel production credit (Form 8896). Filing your state taxes for free Low-income housing credit, Low-income housing credit (Form 8586). Filing your state taxes for free M Meals, Meals and lodging. Filing your state taxes for free (see Travel expenses) Methods for figuring net earnings, Methods for Figuring Net Earnings Mileage rate for vehicles, Standard mileage rate. Filing your state taxes for free Motor vehicle, alternative credit, Alternative motor vehicle credit (Form 8910). Filing your state taxes for free N Net operating losses, Net Operating Losses (NOLs) Net profit or loss, Introduction New markets credit, New markets credit (Form 8874). Filing your state taxes for free Newspaper carrier or distributor, Newspaper carrier or distributor. Filing your state taxes for free Newspaper or magazine vendor, Newspaper or magazine vendor. Filing your state taxes for free Nonbusiness bad debt, Nonbusiness bad debts. Filing your state taxes for free Nonconventional source fuel credit, Nonconventional source fuel credit (Form 8907). Filing your state taxes for free Nondeductible insurance premiums, Nondeductible premiums. Filing your state taxes for free Nonemployee compensation, Introduction Nontaxable exchanges, Nontaxable exchanges. Filing your state taxes for free Not income Appreciation, Appreciation. Filing your state taxes for free Consignments, Consignments. Filing your state taxes for free Constructions allowances, Construction allowances. Filing your state taxes for free Exchange of like-kind property, Exchange of like-kind property. Filing your state taxes for free Leasehold improvements, Leasehold improvements. Filing your state taxes for free Loans, Loans. Filing your state taxes for free Sales tax, Sales tax. Filing your state taxes for free Not-for-profit activities, Not-for-Profit Activities Notary public, Notary public. Filing your state taxes for free , Notary public. Filing your state taxes for free O Occupations, selected Administrator, Executor or administrator. Filing your state taxes for free Direct seller, Direct seller. Filing your state taxes for free , Real estate agent or direct seller. Filing your state taxes for free Executor, Executor or administrator. Filing your state taxes for free Fishing crew member, Fishing crew member. Filing your state taxes for free Insurance agent, former, Insurance agent, former. Filing your state taxes for free Insurance agent, retired, Insurance agent, retired. Filing your state taxes for free Newspaper carrier or distributor, Newspaper carrier or distributor. Filing your state taxes for free Newspaper or magazine vendor, Newspaper or magazine vendor. Filing your state taxes for free Notary public, Notary public. Filing your state taxes for free Public official, Public official. Filing your state taxes for free Real estate agent, Real estate agent or direct seller. Filing your state taxes for free Securities dealer, Securities dealer. Filing your state taxes for free Securities trader, Securities trader. Filing your state taxes for free Office in the home, Office in the home. Filing your state taxes for free (see also Business use of your home) Optional methods, using both, Using Both Optional Methods Ordinary gain or loss, Is My Gain or Loss Ordinary or Capital? Orphan drug credit, Orphan drug credit (Form 8820). Filing your state taxes for free P Parking fees, Parking fees and tolls. Filing your state taxes for free Partners, husband and wife, Business owned and operated by spouses. Filing your state taxes for free Pay, kinds of, Kinds of pay. Filing your state taxes for free Paying Business taxes, Filing and Paying Business Taxes Income tax, How Do I Pay Income Tax? Payments to third parties, Payments to third parties. Filing your state taxes for free Penalties and fines, Expenses You Cannot Deduct Penalty Failure to file Form 8300, Penalties. Filing your state taxes for free Failure to file information returns, Penalties. Filing your state taxes for free Failure to furnish correct payee statements, Penalties. Filing your state taxes for free Underpayment of tax, Penalty for underpayment of tax. Filing your state taxes for free Waiver of, Waiver of penalties. Filing your state taxes for free Pension plans, Pension Plans Personal property tax, Personal property tax. Filing your state taxes for free Prepaid expense Extends useful life, Prepayment. Filing your state taxes for free Rent, Rent paid in advance. Filing your state taxes for free Professional fees, Legal and Professional Fees Promissory notes, Promissory notes. Filing your state taxes for free Public official, Public official. Filing your state taxes for free Punitive damages, Punitive damages. Filing your state taxes for free Q Qualified plug-in electric drive motor vehicle credit, Qualified plug-in electric drive motor vehicle credit (Form 8936). Filing your state taxes for free Qualified real property business debt, Qualified real property business debt. Filing your state taxes for free R Real estate Agent, Real estate agent or direct seller. Filing your state taxes for free Dealer, Real estate dealer. Filing your state taxes for free Rent, Real Estate Rents Taxes, Real estate taxes. Filing your state taxes for free Recovery of items previously deducted, Recovery of items previously deducted. Filing your state taxes for free Refund Inquiries, Refund inquiries. Filing your state taxes for free Offsets against debts, Offset against debts. Filing your state taxes for free Related persons Unreasonable rent, Unreasonable rent. Filing your state taxes for free Renewable electricity, refined coal, and Indian coal production credit, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Filing your state taxes for free Rent expense, Rent Expense Rental income, Real Estate Rents Repayment of income, Repayment of income. Filing your state taxes for free Reportable transaction disclosure statement, Reminders Reporting self-employment tax, Reporting Self-Employment Tax Restricted property, Restricted property. Filing your state taxes for free Retirement plans (see Pension plans) S Salaries, Employees' Pay Sale of a business, Sale of a business. Filing your state taxes for free Sale of property, What Is a Disposition of Property? (see also Disposition of property) Sales of assets, Introduction Sales tax, Sales tax. Filing your state taxes for free Schedule C, How Do I File? Schedule C-EZ, How Do I File? Schedule SE (Form 1040), Who must pay self-employment tax. Filing your state taxes for free Schedule SE, filing requirement, Reporting Self-Employment Tax SE tax About, Self-Employment (SE) Tax Aliens, Aliens. Filing your state taxes for free Child employed by parent, Child employed by parent. Filing your state taxes for free Church employee, Church employee. Filing your state taxes for free Community property income, Community Property Income Deduction for, Self-employment tax. Filing your state taxes for free Earning credits, Earning credits in 2013 and 2014. Filing your state taxes for free Effects of using an optional method, Effects of using an optional method. Filing your state taxes for free Farm optional method, Farm Optional Method Fiscal year filer, Fiscal Year Filer Fishing crew member, Fishing crew member. Filing your state taxes for free Gain or loss, Gain or Loss Government employee, State or local government employee. Filing your state taxes for free , Foreign government or international organization employee. Filing your state taxes for free Joint return, Joint return. Filing your state taxes for free Lost income payments, Lost Income Payments Maximum earnings For 2011, What's New for 2013, Maximum earnings subject to SE tax. Filing your state taxes for free Subject to, Maximum earnings subject to self-employment tax. Filing your state taxes for free Methods for figuring net earnings, Methods for Figuring Net Earnings More than one business, More Than One Business, More than one business. Filing your state taxes for free Nonfarm optional method, Nonfarm Optional Method Notary public, Notary public. Filing your state taxes for free Optional methods Farm, Farm Optional Method Nonfarm, Nonfarm Optional Method Rate, SE tax rate. Filing your state taxes for free Regular method, Regular Method Residing abroad, U. Filing your state taxes for free S. Filing your state taxes for free citizen or resident alien residing abroad. Filing your state taxes for free Special rules and exceptions, Special Rules and Exceptions Tax rate, SE tax rate. Filing your state taxes for free Time limit for posting income, The Social Security Administration (SSA) time limit for posting self-employment income. Filing your state taxes for free Who must pay, Who Must Pay SE Tax? Why use an optional method, Why use an optional method? Section 179 Deduction, Section 179 deduction. Filing your state taxes for free Property, Section 179 property. Filing your state taxes for free Securities Dealer, Securities dealer. Filing your state taxes for free Trader, Securities trader. Filing your state taxes for free Self-employed health insurance deduction, Self-employed health insurance deduction. Filing your state taxes for free Self-employment tax (see SE tax) Settlement payments, Settlement payments. Filing your state taxes for free Short-term capital gain or loss, Is My Capital Gain or Loss Short Term or Long Term? Signature, electronic, Electronic signatures. Filing your state taxes for free Small Business Administration, Small Business Administration Small employer health insurance premiums credit, Credit for small employer health insurance premiums (Form 8941). Filing your state taxes for free Social security coverage, Social security coverage. Filing your state taxes for free Social security number (SSN), Social security number (SSN). Filing your state taxes for free Sole proprietor, Sole proprietor. Filing your state taxes for free , Sole proprietor or independent contractor. Filing your state taxes for free Sport utility vehicle, Section 179 deduction. Filing your state taxes for free Standard mileage rate, Standard mileage rate. Filing your state taxes for free For 2011, What's New for 2013 Statutory employee, Statutory employee. Filing your state taxes for free Suggestions for publication, Comments and suggestions. Filing your state taxes for free SUV, Section 179 deduction. Filing your state taxes for free T Tax home, Local transportation expenses. Filing your state taxes for free , Travel expenses. Filing your state taxes for free Tax preparation fees, Tax preparation fees. Filing your state taxes for free Tax refund Claim for, Refunds. Filing your state taxes for free Offset against debts, Offset against debts. Filing your state taxes for free Tax return How to file, How Do I File? Who must file, Do I Have To File an Income Tax Return? Tax year, Accounting Periods Calendar, Calendar tax year. Filing your state taxes for free Change in, Change in tax year. Filing your state taxes for free Fiscal, Fiscal tax year. Filing your state taxes for free Taxes Deduction for, Taxes Employment, Employment Taxes, Employment taxes. Filing your state taxes for free Excise, Excise Taxes, Excise taxes. Filing your state taxes for free Fuel, Fuel taxes. Filing your state taxes for free Income, Income Tax, Income taxes. Filing your state taxes for free Paid on certain employee tips, Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846). Filing your state taxes for free Personal property, Personal property tax. Filing your state taxes for free Real estate, Real estate taxes. Filing your state taxes for free Sales, Sales tax. Filing your state taxes for free Self-employment, Self-Employment (SE) Tax, Self-employment tax. Filing your state taxes for free Taxpayer rights, Declaration of Taxpayer Rights Third parties, Payments to, Payments to third parties. Filing your state taxes for free Tolls, Parking fees and tolls. Filing your state taxes for free Trade discount, Trade discounts. Filing your state taxes for free , Trade discounts. Filing your state taxes for free Trade or business, Trade or business. Filing your state taxes for free Trailer park owner, Trailer park owner. Filing your state taxes for free Transportation expenses, Local transportation expenses. Filing your state taxes for free Travel expenses, Travel expenses. Filing your state taxes for free U Underpayment of tax penalty, Penalty for underpayment of tax. Filing your state taxes for free Uniform capitalization rules, Uniform Capitalization Rules W Wages, Employees' Pay Work opportunity credit, Work opportunity credit (Form 5884). Filing your state taxes for free Prev  Up     Home   More Online Publications
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The Filing Your State Taxes For Free

Filing your state taxes for free 3. Filing your state taxes for free   Reporting Rental Income, Expenses, and Losses Table of Contents Which Forms To UseSchedule E (Form 1040) Schedule C (Form 1040), Profit or Loss From Business Qualified Joint Venture Limits on Rental LossesAt-Risk Rules Passive Activity Limits Casualties and Thefts Example Figuring the net income or loss for a residential rental activity may involve more than just listing the income and deductions on Schedule E (Form 1040). Filing your state taxes for free There are activities which do not qualify to use Schedule E, such as when the activity is not engaged in to make a profit or when you provide substantial services in conjunction with the property. Filing your state taxes for free There are also the limitations which may need to be applied if you have a net loss on Schedule E. Filing your state taxes for free There are two: (1) the limitation based on the amount of investment you have at risk in your rental activity, and (2) the special limits imposed on passive activities. Filing your state taxes for free You may also have a gain or loss related to your rental property from a casualty or theft. Filing your state taxes for free This is considered separately from the income and expense information you report on Schedule E. Filing your state taxes for free Which Forms To Use The basic form for reporting residential rental income and expenses is Schedule E (Form 1040). Filing your state taxes for free However, do not use that schedule to report a not-for-profit activity. Filing your state taxes for free See Not Rented for Profit , in chapter 4. Filing your state taxes for free There are also other rental situations in which forms other than Schedule E would be used. Filing your state taxes for free Schedule E (Form 1040) If you rent buildings, rooms, or apartments, and provide basic services such as heat and light, trash collection, etc. Filing your state taxes for free , you normally report your rental income and expenses on Schedule E, Part I. Filing your state taxes for free List your total income, expenses, and depreciation for each rental property. Filing your state taxes for free Be sure to enter the number of fair rental and personal use days on line 2. Filing your state taxes for free If you have more than three rental or royalty properties, complete and attach as many Schedules E as are needed to list the properties. Filing your state taxes for free Complete lines 1 and 2 for each property. Filing your state taxes for free However, fill in lines 23a through 26 on only one Schedule E. Filing your state taxes for free On Schedule E, page 1, line 18, enter the depreciation you are claiming for each property. Filing your state taxes for free To find out if you need to attach Form 4562, see Form 4562 , later. Filing your state taxes for free If you have a loss from your rental real estate activity, you also may need to complete one or both of the following forms. Filing your state taxes for free Form 6198, At-Risk Limitations. Filing your state taxes for free See At-Risk Rules , later. Filing your state taxes for free Also see Publication 925. Filing your state taxes for free Form 8582, Passive Activity Loss Limitations. Filing your state taxes for free See Passive Activity Limits , later. Filing your state taxes for free Page 2 of Schedule E is used to report income or loss from partnerships, S corporations, estates, trusts, and real estate mortgage investment conduits. Filing your state taxes for free If you need to use page 2 of Schedule E, be sure to use page 2 of the same Schedule E you used to enter your rental activity on page 1. Filing your state taxes for free Also, include the amount from line 26 (Part I) in the “Total income or (loss)” on line 41 (Part V). Filing your state taxes for free Form 4562. Filing your state taxes for free   You must complete and attach Form 4562 for rental activities only if you are claiming: Depreciation, including the special depreciation allowance, on property placed in service during 2013; Depreciation on listed property (such as a car), regardless of when it was placed in service; or Any other car expenses, including the standard mileage rate or lease expenses. Filing your state taxes for free Otherwise, figure your depreciation on your own worksheet. Filing your state taxes for free You do not have to attach these computations to your return, but you should keep them in your records for future reference. Filing your state taxes for free   See Publication 946 for information on preparing Form 4562. Filing your state taxes for free Schedule C (Form 1040), Profit or Loss From Business Generally, Schedule C is used when you provide substantial services in conjunction with the property or the rental is part of a trade or business as a real estate dealer. Filing your state taxes for free Providing substantial services. Filing your state taxes for free   If you provide substantial services that are primarily for your tenant's convenience, such as regular cleaning, changing linen, or maid service, you report your rental income and expenses on Schedule C (Form 1040), Profit or Loss From Business, or Schedule C-EZ (Form 1040), Net Profit From Business. Filing your state taxes for free Use Form 1065, U. Filing your state taxes for free S. Filing your state taxes for free Return of Partnership Income, if your rental activity is a partnership (including a partnership with your spouse unless it is a qualified joint venture). Filing your state taxes for free Substantial services do not include the furnishing of heat and light, cleaning of public areas, trash collection, etc. Filing your state taxes for free For information, see Publication 334, Tax Guide for Small Business. Filing your state taxes for free Also, you may have to pay self-employment tax on your rental income using Schedule SE (Form 1040), Self-Employment Tax. Filing your state taxes for free For a discussion of “substantial services,” see Real Estate Rents in Publication 334, chapter 5. Filing your state taxes for free Qualified Joint Venture If you and your spouse each materially participate (see Material participation under Passive Activity Limits, later) as the only members of a jointly owned and operated real estate business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership. Filing your state taxes for free This election, in most cases, will not increase the total tax owed on the joint return, but it does give each of you credit for social security earnings on which retirement benefits are based and for Medicare coverage if your rental income is subject to self-employment tax. Filing your state taxes for free If you make this election, you must report rental real estate income on Schedule E (or Schedule C if you provide substantial services). Filing your state taxes for free You will not be required to file Form 1065 for any year the election is in effect. Filing your state taxes for free Rental real estate income generally is not included in net earnings from self-employment subject to self-employment tax and generally is subject to the passive activity limits. Filing your state taxes for free If you and your spouse filed a Form 1065 for the year prior to the election, the partnership terminates at the end of the tax year immediately preceding the year the election takes effect. Filing your state taxes for free For more information on qualified joint ventures, go to IRS. Filing your state taxes for free gov and enter “qualified joint venture” in the search box. Filing your state taxes for free Limits on Rental Losses If you have a loss from your rental real estate activity, two sets of rules may limit the amount of loss you can deduct. Filing your state taxes for free You must consider these rules in the order shown below. Filing your state taxes for free Both are discussed in this section. Filing your state taxes for free At-risk rules. Filing your state taxes for free These rules are applied first if there is investment in your rental real estate activity for which you are not at risk. Filing your state taxes for free This applies only if the real property was placed in service after 1986. Filing your state taxes for free Passive activity limits. Filing your state taxes for free Generally, rental real estate activities are considered passive activities and losses are not deductible unless you have income from other passive activities to offset them. Filing your state taxes for free However, there are exceptions. Filing your state taxes for free At-Risk Rules You may be subject to the at-risk rules if you have: A loss from an activity carried on as a trade or business or for the production of income, and Amounts invested in the activity for which you are not fully at risk. Filing your state taxes for free Losses from holding real property (other than mineral property) placed in service before 1987 are not subject to the at-risk rules. Filing your state taxes for free In most cases, any loss from an activity subject to the at-risk rules is allowed only to the extent of the total amount you have at risk in the activity at the end of the tax year. Filing your state taxes for free You are considered at risk in an activity to the extent of cash and the adjusted basis of other property you contributed to the activity and certain amounts borrowed for use in the activity. Filing your state taxes for free Any loss that is disallowed because of the at-risk limits is treated as a deduction from the same activity in the next tax year. Filing your state taxes for free See Publication 925 for a discussion of the at-risk rules. Filing your state taxes for free Form 6198. Filing your state taxes for free   If you are subject to the at-risk rules, file Form 6198, At-Risk Limitations, with your tax return. Filing your state taxes for free Passive Activity Limits In most cases, all rental real estate activities (except those of certain real estate professionals, discussed later) are passive activities. Filing your state taxes for free For this purpose, a rental activity is an activity from which you receive income mainly for the use of tangible property, rather than for services. Filing your state taxes for free For a discussion of activities that are not considered rental activities, see Rental Activities in Publication 925. Filing your state taxes for free Deductions or losses from passive activities are limited. Filing your state taxes for free You generally cannot offset income, other than passive income, with losses from passive activities. Filing your state taxes for free Nor can you offset taxes on income, other than passive income, with credits resulting from passive activities. Filing your state taxes for free Any excess loss or credit is carried forward to the next tax year. Filing your state taxes for free Exceptions to the rules for figuring passive activity limits for personal use of a dwelling unit and for rental real estate with active participation are discussed later. Filing your state taxes for free For a detailed discussion of these rules, see Publication 925. Filing your state taxes for free Real estate professionals. Filing your state taxes for free   If you are a real estate professional, complete line 43 of Schedule E. Filing your state taxes for free      You qualify as a real estate professional for the tax year if you meet both of the following requirements. Filing your state taxes for free More than half of the personal services you perform in all trades or businesses during the tax year are performed in real property trades or businesses in which you materially participate. Filing your state taxes for free You perform more than 750 hours of services during the tax year in real property trades or businesses in which you materially participate. Filing your state taxes for free If you qualify as a real estate professional, rental real estate activities in which you materially participated are not passive activities. Filing your state taxes for free For purposes of determining whether you materially participated in your rental real estate activities, each interest in rental real estate is a separate activity unless you elect to treat all your interests in rental real estate as one activity. Filing your state taxes for free   Do not count personal services you perform as an employee in real property trades or businesses unless you are a 5% owner of your employer. Filing your state taxes for free You are a 5% owner if you own (or are considered to own) more than 5% of your employer's outstanding stock, or capital or profits interest. Filing your state taxes for free   Do not count your spouse's personal services to determine whether you met the requirements listed earlier to qualify as a real estate professional. Filing your state taxes for free However, you can count your spouse's participation in an activity in determining if you materially participated. Filing your state taxes for free Real property trades or businesses. Filing your state taxes for free   A real property trade or business is a trade or business that does any of the following with real property. Filing your state taxes for free Develops or redevelops it. Filing your state taxes for free Constructs or reconstructs it. Filing your state taxes for free Acquires it. Filing your state taxes for free Converts it. Filing your state taxes for free Rents or leases it. Filing your state taxes for free Operates or manages it. Filing your state taxes for free Brokers it. Filing your state taxes for free Choice to treat all interests as one activity. Filing your state taxes for free   If you were a real estate professional and had more than one rental real estate interest during the year, you can choose to treat all the interests as one activity. Filing your state taxes for free You can make this choice for any year that you qualify as a real estate professional. Filing your state taxes for free If you forgo making the choice for one year, you can still make it for a later year. Filing your state taxes for free   If you make the choice, it is binding for the tax year you make it and for any later year that you are a real estate professional. Filing your state taxes for free This is true even if you are not a real estate professional in any intervening year. Filing your state taxes for free (For that year, the exception for real estate professionals will not apply in determining whether your activity is subject to the passive activity rules. Filing your state taxes for free )   See the Instructions for Schedule E for information about making this choice. Filing your state taxes for free Material participation. Filing your state taxes for free   Generally, you materially participated in an activity for the tax year if you were involved in its operations on a regular, continuous, and substantial basis during the year. Filing your state taxes for free For details, see Publication 925 or the Instructions for Schedule C. Filing your state taxes for free Participating spouse. Filing your state taxes for free   If you are married, determine whether you materially participated in an activity by also counting any participation in the activity by your spouse during the year. Filing your state taxes for free Do this even if your spouse owns no interest in the activity or files a separate return for the year. Filing your state taxes for free Form 8582. Filing your state taxes for free    You may have to complete Form 8582 to figure the amount of any passive activity loss for the current tax year for all activities and the amount of the passive activity loss allowed on your tax return. Filing your state taxes for free See Form 8582 not required , later in this chapter, to determine if you must complete Form 8582. Filing your state taxes for free   If you are required to complete Form 8582 and are also subject to the at-risk rules, include the amount from Form 6198, line 21 (deductible loss) in column (b) of Form 8582, Worksheet 1 or 3, as required. Filing your state taxes for free Exception for Personal Use of Dwelling Unit If you used the rental property as a home during the year, any income, deductions, gain, or loss allocable to such use shall not be taken into account for purposes of the passive activity loss limitation. Filing your state taxes for free Instead, follow the rules explained in chapter 5, Personal Use of Dwelling Unit (Including Vacation Home). Filing your state taxes for free Exception for Rental Real Estate With Active Participation If you or your spouse actively participated in a passive rental real estate activity, you may be able to deduct up to $25,000 of loss from the activity from your nonpassive income. Filing your state taxes for free This special allowance is an exception to the general rule disallowing losses in excess of income from passive activities. Filing your state taxes for free Similarly, you may be able to offset credits from the activity against the tax on up to $25,000 of nonpassive income after taking into account any losses allowed under this exception. Filing your state taxes for free Example. Filing your state taxes for free Jane is single and has $40,000 in wages, $2,000 of passive income from a limited partnership, and $3,500 of passive loss from a rental real estate activity in which she actively participated. Filing your state taxes for free $2,000 of Jane's $3,500 loss offsets her passive income. Filing your state taxes for free The remaining $1,500 loss can be deducted from her $40,000 wages. Filing your state taxes for free The special allowance is not available if you were married, lived with your spouse at any time during the year, and are filing a separate return. Filing your state taxes for free Active participation. Filing your state taxes for free   You actively participated in a rental real estate activity if you (and your spouse) owned at least 10% of the rental property and you made management decisions or arranged for others to provide services (such as repairs) in a significant and bona fide sense. Filing your state taxes for free Management decisions that may count as active participation include approving new tenants, deciding on rental terms, approving expenditures, and other similar decisions. Filing your state taxes for free Example. Filing your state taxes for free Mike is single and had the following income and losses during the tax year:   Salary $42,300     Dividends 300     Interest 1,400     Rental loss (4,000)   The rental loss was from the rental of a house Mike owned. Filing your state taxes for free Mike had advertised and rented the house to the current tenant himself. Filing your state taxes for free He also collected the rents, which usually came by mail. Filing your state taxes for free All repairs were either made or contracted out by Mike. Filing your state taxes for free Although the rental loss is from a passive activity, because Mike actively participated in the rental property management he can use the entire $4,000 loss to offset his other income. Filing your state taxes for free Maximum special allowance. Filing your state taxes for free   The maximum special allowance is: $25,000 for single individuals and married individuals filing a joint return for the tax year, $12,500 for married individuals who file separate returns for the tax year and lived apart from their spouses at all times during the tax year, and $25,000 for a qualifying estate reduced by the special allowance for which the surviving spouse qualified. Filing your state taxes for free   If your modified adjusted gross income (MAGI) is $100,000 or less ($50,000 or less if married filing separately), you can deduct your loss up to the amount specified above. Filing your state taxes for free If your MAGI is more than $100,000 (more than $50,000 if married filing separately), your special allowance is limited to 50% of the difference between $150,000 ($75,000 if married filing separately) and your MAGI. Filing your state taxes for free   Generally, if your MAGI is $150,000 or more ($75,000 or more if you are married filing separately), there is no special allowance. Filing your state taxes for free Modified adjusted gross income (MAGI). Filing your state taxes for free   This is your adjusted gross income from Form 1040, U. Filing your state taxes for free S. Filing your state taxes for free Individual Income Tax Return, line 38, or Form 1040NR, U. Filing your state taxes for free S. Filing your state taxes for free Nonresident Alien Income Tax Return, line 37, figured without taking into account: The taxable amount of social security or equivalent tier 1 railroad retirement benefits, The deductible contributions to traditional individual retirement accounts (IRAs) and section 501(c)(18) pension plans, The exclusion from income of interest from Series EE and I U. Filing your state taxes for free S. Filing your state taxes for free savings bonds used to pay higher educational expenses, The exclusion of amounts received under an employer's adoption assistance program, Any passive activity income or loss included on Form 8582, Any rental real estate loss allowed to real estate professionals, Any overall loss from a publicly traded partnership (see Publicly Traded Partnerships (PTPs) in the Instructions for Form 8582), The deduction allowed for one-half of self-employment tax, The deduction allowed for interest paid on student loans, The deduction for qualified tuition and related fees, and The domestic production activities deduction (see the Instructions for Form 8903). Filing your state taxes for free Form 8582 not required. Filing your state taxes for free   Do not complete Form 8582 if you meet all of the following conditions. Filing your state taxes for free Your only passive activities were rental real estate activities in which you actively participated. Filing your state taxes for free Your overall net loss from these activities is $25,000 or less ($12,500 or less if married filing separately and you lived apart from your spouse all year). Filing your state taxes for free If married filing separately, you lived apart from your spouse all year. Filing your state taxes for free You have no prior year unallowed losses from these (or any other passive) activities. Filing your state taxes for free You have no current or prior year unallowed credits from passive activities. Filing your state taxes for free Your MAGI is $100,000 or less ($50,000 or less if married filing separately and you lived apart from your spouse all year). Filing your state taxes for free You do not hold any interest in a rental real estate activity as a limited partner or as a beneficiary of an estate or a trust. Filing your state taxes for free   If you meet all of the conditions listed above, your rental real estate activities are not limited by the passive activity rules and you do not have to complete Form 8582. Filing your state taxes for free On lines 23a through 23e of your Schedule E, enter the applicable amounts. Filing your state taxes for free Casualties and Thefts As a result of a casualty or theft, you may have a loss related to your rental property. Filing your state taxes for free You may be able to deduct the loss on your income tax return. Filing your state taxes for free Casualty. Filing your state taxes for free   This is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. Filing your state taxes for free Such events include a storm, fire, or earthquake. Filing your state taxes for free Theft. Filing your state taxes for free   This is defined as the unlawful taking and removing of your money or property with the intent to deprive you of it. Filing your state taxes for free Gain from casualty or theft. Filing your state taxes for free   It is also possible to have a gain from a casualty or theft if you receive money, including insurance, that is more than your adjusted basis in the property. Filing your state taxes for free Generally, you must report this gain. Filing your state taxes for free However, under certain circumstances, you may defer paying tax by choosing to postpone reporting the gain. Filing your state taxes for free To do this, you generally must buy replacement property within 2 years after the close of the first tax year in which any part of your gain is realized. Filing your state taxes for free In certain circumstances, the replacement period can be greater than 2 years; see Replacement Period in Publication 547 for more information. Filing your state taxes for free The cost of the replacement property must be equal to or more than the net insurance or other payment you received. Filing your state taxes for free More information. Filing your state taxes for free   For information on business and nonbusiness casualty and theft losses, see Publication 547. Filing your state taxes for free How to report. Filing your state taxes for free    If you had a casualty or theft that involved property used in your rental activity, figure the net gain or loss in Section B of Form 4684, Casualties and Thefts. Filing your state taxes for free Follow the Instructions for Form 4684 for where to carry your net gain or loss. Filing your state taxes for free Example In February 2008, Marie Pfister bought a rental house for $135,000 (house $120,000 and land $15,000) and immediately began renting it out. Filing your state taxes for free In 2013, she rented it all 12 months for a monthly rental fee of $1,125. Filing your state taxes for free In addition to her rental income of $13,500 (12 x $1,125), Marie had the following expenses. Filing your state taxes for free Mortgage interest $8,000 Fire insurance (1-year policy) 250 Miscellaneous repairs 400 Real estate taxes imposed and paid 500 Maintenance 200 Marie depreciates the residential rental property under MACRS GDS. Filing your state taxes for free This means using the straight line method over a recovery period of 27. Filing your state taxes for free 5 years. Filing your state taxes for free She uses Table 2-2d to find her depreciation percentage. Filing your state taxes for free Because she placed the property in service in February 2008, she continues to use that row of Table 2-2d. Filing your state taxes for free For year 6, the rate is 3. Filing your state taxes for free 636%. Filing your state taxes for free Marie figures her net rental income or loss for the house as follows: Total rental income received  ($1,125 × 12) $13,500 Minus: Expenses     Mortgage interest $8,000   Fire insurance 250   Miscellaneous repairs 400   Real estate taxes 500   Maintenance 200   Total expenses 9,350 Balance $4,150 Minus: Depreciation ($120,000 x 3. Filing your state taxes for free 636%) 4,363 Net rental (loss) for house ($213)       Marie had a net loss for the year. Filing your state taxes for free Because she actively participated in her passive rental real estate activity and her loss was less than $25,000, she can deduct the loss on her return. Filing your state taxes for free Marie also meets all of the requirements for not having to file Form 8582. Filing your state taxes for free She uses Schedule E, Part I, to report her rental income and expenses. Filing your state taxes for free She enters her income, expenses, and depreciation for the house in the column for Property A and enters her loss on line 22. Filing your state taxes for free Form 4562 is not required. Filing your state taxes for free Prev  Up  Next   Home   More Online Publications