File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

Irs Form 1040ez 2014

1040ez File On LineTurbo Tax 1040nrFreetaxusa2011 TaxesTurbo Tax 1040ezFree Turbo Tax 2008Nj 1040 NrWhere Can I File State Taxes Free OnlineFile Taxes 2010 FreeNeed To File A 2011 Tax ReturnHrblockfreetaxFiling For Taxes As A Student2012 1040 Income Tax FormIncome Tax For UnemployedFile Free State And Federal Taxes OnlineTurbotax Free State Filing CodeFree Online State Tax FilingI Need To Amend My Taxes1040 Es FormTax Filing 2014Efile 1040xAmendment For Tax ReturnsIrs Form 1040 Ez Instructions2011 Federal Tax Forms 1040Where To Report State Income Tax On 1040Free Income TaxIrs Tax Forms 1040ezH & R Block Online TaxesLate Filing 2011 TaxesAmended 1040ez FormTurbotax 2009 Download1040 Ez InstructionsDo Taxes Online 2010Free E File State Tax ReturnHow To File 1040ez OnlineFederal Tax 1040ezFile 1040x Online FreeState Tax Form 2014Tax FilingI Forgot To File My 2012 TaxesAmend 2011 Return

Irs Form 1040ez 2014

Irs form 1040ez 2014 Publication 54 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionOrdering forms and publications. Irs form 1040ez 2014 Tax questions. Irs form 1040ez 2014 Future Developments For the latest information about developments related to Publication 54, such as legislation enacted after it was published, go to www. Irs form 1040ez 2014 irs. Irs form 1040ez 2014 gov/pub54. Irs form 1040ez 2014 What's New Exclusion amount. Irs form 1040ez 2014  The maximum foreign earned income exclusion is adjusted annually for inflation. Irs form 1040ez 2014 For 2013, the maximum exclusion has increased to $97,600. Irs form 1040ez 2014 See Limit on Excludable Amount under Foreign Earned Income Exclusion in chapter 4. Irs form 1040ez 2014 Housing expenses — base amount. Irs form 1040ez 2014  The computation of the base housing amount (line 32 of Form 2555) is tied to the maximum foreign earned income exclusion. Irs form 1040ez 2014 The amount is 16 percent of the exclusion amount (computed on a daily basis), multiplied by the number of days in your qualifying period that fall within your 2013 tax year. Irs form 1040ez 2014 For 2013, this amount is $42. Irs form 1040ez 2014 78 per day ($15,616 per year). Irs form 1040ez 2014 See Housing Amount under Foreign Housing Exclusion and Deduction in chapter 4. Irs form 1040ez 2014 Housing expenses — maximum amount. Irs form 1040ez 2014  The amount of qualified housing expenses eligible for the housing exclusion and housing deduction has changed for some locations. Irs form 1040ez 2014 See Limit on housing expenses under Foreign Housing Exclusion and Deduction in chapter 4. Irs form 1040ez 2014 Filing requirements. Irs form 1040ez 2014  Generally, the amount of income you can receive before you must file an income tax return has increased. Irs form 1040ez 2014 These amounts are shown in chapter 1 under Filing Requirements . Irs form 1040ez 2014 Self-employment tax rate. Irs form 1040ez 2014  For 2013, the self-employment tax rate of 13. Irs form 1040ez 2014 3% has increased to 15. Irs form 1040ez 2014 3%. Irs form 1040ez 2014 The maximum amount of net earnings from self-employment that is subject to the social security part of the self-employment tax has increased to $113,700. Irs form 1040ez 2014 All net earnings are subject to the Medicare part of the tax. Irs form 1040ez 2014 For more information, see chapter 3. Irs form 1040ez 2014 IRA limitations for 2013. Irs form 1040ez 2014 . Irs form 1040ez 2014  The 2013 contribution limit to an IRA has increased to $5,500 ($6,500 if age 50 or older). Irs form 1040ez 2014 You may be able to take an IRA deduction if you were covered by a retirement plan and your 2013 modified adjusted gross income (AGI) is less than $69,000 ($115,000 if married filing jointly or a qualifying widow(er)). Irs form 1040ez 2014 If your spouse was covered by a retirement plan, but you were not, you may be able to take an IRA deduction if your 2013 modified AGI is less than $188,000. Irs form 1040ez 2014 See the Instructions for Form 1040 or the Instructions for Form 1040A for details and exceptions. Irs form 1040ez 2014 Reminders Figuring tax on income not excluded. Irs form 1040ez 2014  If you claim the foreign earned income exclusion, the housing exclusion, or both, you must figure the tax on your nonexcluded income using the tax rates that would have applied had you not claimed the exclusions. Irs form 1040ez 2014 See the Instructions for Form 1040 and complete the Foreign Earned Income Tax Worksheet to figure the amount of tax to enter on Form 1040, line 44. Irs form 1040ez 2014 If you must attach Form 6251 to your return, use the Foreign Earned Income Tax Worksheet provided in the Instructions for Form 6251. Irs form 1040ez 2014 Form 8938. Irs form 1040ez 2014  If you had foreign financial assets in 2013, you may have to file Form 8938 with your return. Irs form 1040ez 2014 See Form 8938 in chapter 1. Irs form 1040ez 2014 Change of address. Irs form 1040ez 2014  If you change your home mailing address, notify the Internal Revenue Service using Form 8822, Change of Address. Irs form 1040ez 2014 If you are changing your business address, use Form 8822-B, Change of Address or Responsible Party—Business. Irs form 1040ez 2014 Photographs of missing children. Irs form 1040ez 2014  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Irs form 1040ez 2014 Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Irs form 1040ez 2014 You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Irs form 1040ez 2014 Introduction This publication discusses special tax rules for U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 citizens and resident aliens who work abroad or who have income earned in foreign countries. Irs form 1040ez 2014 If you are a U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 citizen or resident alien, your worldwide income generally is subject to U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 income tax, regardless of where you are living. Irs form 1040ez 2014 Also, you are subject to the same income tax filing requirements that apply to U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 citizens or resident aliens living in the United States. Irs form 1040ez 2014 Expatriation tax provisions apply to U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 citizens who have renounced their citizenship and long-term residents who have ended their residency. Irs form 1040ez 2014 These provisions are discussed in chapter 4 of Publication 519, U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 Tax Guide for Aliens. Irs form 1040ez 2014 Resident alien. Irs form 1040ez 2014   A resident alien is an individual who is not a citizen or national of the United States and who meets either the green card test or the substantial presence test for the calendar year. Irs form 1040ez 2014 Green card test. Irs form 1040ez 2014 You are a U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 resident if you were a lawful permanent resident of the United States at any time during the calendar year. Irs form 1040ez 2014 This is known as the green card test because resident aliens hold immigrant visas (also known as green cards). Irs form 1040ez 2014 Substantial presence test. Irs form 1040ez 2014 You are considered a U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 resident if you meet the substantial presence test for the calendar year. Irs form 1040ez 2014 To meet this test, you must be physically present in the United States on at least: 31 days during the current calendar year, and A total of 183 days during the current year and the 2 preceding years, counting all the days of physical presence in the current year, but only 1/3 the number of days of presence in the first preceding year, and only 1/6 the number of days in the second preceding year. Irs form 1040ez 2014 Example. Irs form 1040ez 2014 You were physically present in the United States on 120 days in each of the years 2011, 2012, and 2013. Irs form 1040ez 2014 To determine if you meet the substantial presence test for 2013, count the full 120 days of presence in 2013, 40 days in 2012 (1/3 of 120), and 20 days in 2011 (1/6 of 120). Irs form 1040ez 2014 Because the total for the 3-year period is 180 days, you are not considered a resident under the substantial presence test for 2013. Irs form 1040ez 2014   For more information on resident and nonresident status, the tests for residence, and the exceptions to them, see Publication 519. Irs form 1040ez 2014 Filing information. Irs form 1040ez 2014    Chapter 1 contains general filing information, such as: Whether you must file a U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 tax return, When and where to file your return, How to report your income if it is paid in foreign currency, How to treat a nonresident alien spouse as a U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 resident, and Whether you must pay estimated tax. Irs form 1040ez 2014 Withholding tax. Irs form 1040ez 2014    Chapter 2 discusses the withholding of income, social security, and Medicare taxes from the pay of U. Irs form 1040ez 2014 S. Irs form 1040ez 2014 citizens and resident aliens. Irs form 1040ez 2014 Self-employment tax. Irs form 1040ez 2014    Chapter 3 discusses who must pay self-employment tax. Irs form 1040ez 2014 Foreign earned income exclusion and housing exclusion and deduction. Irs form 1040ez 2014    Chapter 4 discusses income tax benefits that apply if you meet certain requirements while living abroad. Irs form 1040ez 2014 You may qualify to treat up to $97,600 of your income as not taxable by the United States. Irs form 1040ez 2014 You also may be able to either deduct part of your housing expenses from your income or treat a limited amount of income used for housing expenses as not taxable by the United States. Irs form 1040ez 2014 These benefits are called the foreign earned income exclusion and the foreign housing deduction and exclusion. Irs form 1040ez 2014   To qualify for either of the exclusions or the deduction, you must have a tax home in a foreign country and earn income from personal services performed in a foreign country. Irs form 1040ez 2014 These rules are explained in chapter 4. Irs form 1040ez 2014   If you are going to exclude or deduct your income as discussed above, you must file Form 2555, Foreign Earned Income, or Form 2555-EZ, Foreign Earned Income Exclusion. Irs form 1040ez 2014 Exemptions, deductions, and credits. Irs form 1040ez 2014    Chapter 5 discusses exemptions, deductions, and credits you may be able to claim on your return. Irs form 1040ez 2014 These are generally the same as if you were living in the United States. Irs form 1040ez 2014 However, if you choose to exclude foreign earned income or housing amounts, you cannot deduct or exclude any item or take a credit for any item that is related to the amounts you exclude. Irs form 1040ez 2014 Among the topics discussed in chapter 5 are: Exemptions, Contributions to foreign organizations, Foreign moving expenses, Contributions to individual retirement arrangements (IRAs), and Foreign taxes. Irs form 1040ez 2014 Tax treaty benefits. Irs form 1040ez 2014    Chapter 6 discusses some benefits that are common to most tax treaties and explains how to get help if you think you are not receiving a treaty benefit to which you are entitled. Irs form 1040ez 2014 It also explains how to get copies of tax treaties. Irs form 1040ez 2014 How to get tax help. Irs form 1040ez 2014    Chapter 7 is an explanation of how to get information and assistance from the IRS. Irs form 1040ez 2014 Questions and answers. Irs form 1040ez 2014   Frequently asked questions and answers to those questions are presented in the back of the publication. Irs form 1040ez 2014 Comments and suggestions. Irs form 1040ez 2014   We welcome your comments about this publication and your suggestions for future editions. Irs form 1040ez 2014   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Irs form 1040ez 2014 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Irs form 1040ez 2014 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Irs form 1040ez 2014   You can send us comments from www. Irs form 1040ez 2014 irs. Irs form 1040ez 2014 gov/formspubs/. Irs form 1040ez 2014 Click on “More Information” and then on “Comment on Tax Forms and Publications. Irs form 1040ez 2014 ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Irs form 1040ez 2014 Ordering forms and publications. Irs form 1040ez 2014   Visit www. Irs form 1040ez 2014 irs. Irs form 1040ez 2014 gov/formspubs/ to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response within 10 days after your request is received. Irs form 1040ez 2014 Internal Revenue Service 1201 N. Irs form 1040ez 2014 Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Irs form 1040ez 2014   If you have a tax question, check the information available on IRS. Irs form 1040ez 2014 gov or call 1-800-TAX–FORM (1-800-829-1040). Irs form 1040ez 2014 We cannot answer tax questions sent to either of the above addresses. Irs form 1040ez 2014 Prev  Up  Next   Home   More Online Publications
Español

Family

Find resources to help your family.


  • Parents
    Find health, education, safety, child care, and other resources for parents.
  • Seniors
    Get government resources for seniors on money, housing, health, consumer protection, and more.
  • Caregivers
    Assistance for those who care for a loved one.
  • Grandparents Raising Grandchildren
    Find grandparent programs in your state and get information about benefits, assistance, and more.
  • Persons with Disabilities
    Information about benefits, education, employment, health, housing, and more.
  • Teens
    Get resources on driving, managing money, working, and more.
  • Kids
    Information for kids in grades K-8 and teachers.

The Irs Form 1040ez 2014

Irs form 1040ez 2014 5. Irs form 1040ez 2014   Personal Use of Dwelling Unit (Including Vacation Home) Table of Contents Dividing Expenses Dwelling Unit Used as a HomeMain home. Irs form 1040ez 2014 Shared equity financing agreement. Irs form 1040ez 2014 Donation of use of the property. Irs form 1040ez 2014 Examples. Irs form 1040ez 2014 Days used for repairs and maintenance. Irs form 1040ez 2014 Days used as a main home before or after renting. Irs form 1040ez 2014 Reporting Income and DeductionsNot used as a home. Irs form 1040ez 2014 Used as a home but rented less than 15 days. Irs form 1040ez 2014 Used as a home and rented 15 days or more. Irs form 1040ez 2014 If you have any personal use of a dwelling unit (including a vacation home) that you rent, you must divide your expenses between rental use and personal use. Irs form 1040ez 2014 In general, your rental expenses will be no more than your total expenses multiplied by a fraction; the denominator of which is the total number of days the dwelling unit is used and the numerator of which is the total number of days actually rented at a fair rental price. Irs form 1040ez 2014 Only your rental expenses may deducted on Schedule E (Form 1040). Irs form 1040ez 2014 Some of your personal expenses may be deductible if you itemize your deductions on Schedule A (Form 1040). Irs form 1040ez 2014 You must also determine if the dwelling unit is considered a home. Irs form 1040ez 2014 The amount of rental expenses that you can deduct may be limited if the dwelling unit is considered a home. Irs form 1040ez 2014 Whether a dwelling unit is considered a home depends on how many days during the year are considered to be days of personal use. Irs form 1040ez 2014 There is a special rule if you used the dwelling unit as a home and you rented it for less than 15 days during the year. Irs form 1040ez 2014 Dwelling unit. Irs form 1040ez 2014   A dwelling unit includes a house, apartment, condominium, mobile home, boat, vacation home, or similar property. Irs form 1040ez 2014 It also includes all structures or other property belonging to the dwelling unit. Irs form 1040ez 2014 A dwelling unit has basic living accommodations, such as sleeping space, a toilet, and cooking facilities. Irs form 1040ez 2014   A dwelling unit does not include property (or part of the property) used solely as a hotel, motel, inn, or similar establishment. Irs form 1040ez 2014 Property is used solely as a hotel, motel, inn, or similar establishment if it is regularly available for occupancy by paying customers and is not used by an owner as a home during the year. Irs form 1040ez 2014 Example. Irs form 1040ez 2014 You rent a room in your home that is always available for short-term occupancy by paying customers. Irs form 1040ez 2014 You do not use the room yourself and you allow only paying customers to use the room. Irs form 1040ez 2014 This room is used solely as a hotel, motel, inn, or similar establishment and is not a dwelling unit. Irs form 1040ez 2014 Dividing Expenses If you use a dwelling unit for both rental and personal purposes, divide your expenses between the rental use and the personal use based on the number of days used for each purpose. Irs form 1040ez 2014 When dividing your expenses, follow these rules. Irs form 1040ez 2014 Any day that the unit is rented at a fair rental price is a day of rental use even if you used the unit for personal purposes that day. Irs form 1040ez 2014 (This rule does not apply when determining whether you used the unit as a home. Irs form 1040ez 2014 ) Any day that the unit is available for rent but not actually rented is not a day of rental use. Irs form 1040ez 2014 Fair rental price. Irs form 1040ez 2014   A fair rental price for your property generally is the amount of rent that a person who is not related to you would be willing to pay. Irs form 1040ez 2014 The rent you charge is not a fair rental price if it is substantially less than the rents charged for other properties that are similar to your property in your area. Irs form 1040ez 2014   Ask yourself the following questions when comparing another property with yours. Irs form 1040ez 2014 Is it used for the same purpose? Is it approximately the same size? Is it in approximately the same condition? Does it have similar furnishings? Is it in a similar location? If any of the answers are no, the properties probably are not similar. Irs form 1040ez 2014 Example. Irs form 1040ez 2014 Your beach cottage was available for rent from June 1 through August 31 (92 days). Irs form 1040ez 2014 Except for the first week in August (7 days), when you were unable to find a renter, you rented the cottage at a fair rental price during that time. Irs form 1040ez 2014 The person who rented the cottage for July allowed you to use it over the weekend (2 days) without any reduction in or refund of rent. Irs form 1040ez 2014 Your family also used the cottage during the last 2 weeks of May (14 days). Irs form 1040ez 2014 The cottage was not used at all before May 17 or after August 31. Irs form 1040ez 2014 You figure the part of the cottage expenses to treat as rental expenses as follows. Irs form 1040ez 2014 The cottage was used for rental a total of 85 days (92 − 7). Irs form 1040ez 2014 The days it was available for rent but not rented (7 days) are not days of rental use. Irs form 1040ez 2014 The July weekend (2 days) you used it is rental use because you received a fair rental price for the weekend. Irs form 1040ez 2014 You used the cottage for personal purposes for 14 days (the last 2 weeks in May). Irs form 1040ez 2014 The total use of the cottage was 99 days (14 days personal use + 85 days rental use). Irs form 1040ez 2014 Your rental expenses are 85/99 (86%) of the cottage expenses. Irs form 1040ez 2014 Note. Irs form 1040ez 2014 When determining whether you used the cottage as a home, the July weekend (2 days) you used it is considered personal use even though you received a fair rental price for the weekend. Irs form 1040ez 2014 Therefore, you had 16 days of personal use and 83 days of rental use for this purpose. Irs form 1040ez 2014 Because you used the cottage for personal purposes more than 14 days and more than 10% of the days of rental use (8 days), you used it as a home. Irs form 1040ez 2014 If you have a net loss, you may not be able to deduct all of the rental expenses. Irs form 1040ez 2014 See Dwelling Unit Used as a Home, next. Irs form 1040ez 2014 Dwelling Unit Used as a Home If you use a dwelling unit for both rental and personal purposes, the tax treatment of the rental expenses you figured earlier under Dividing Expenses and rental income depends on whether you are considered to be using the dwelling unit as a home. Irs form 1040ez 2014 You use a dwelling unit as a home during the tax year if you use it for personal purposes more than the greater of: 14 days, or 10% of the total days it is rented to others at a fair rental price. Irs form 1040ez 2014 See What is a day of personal use , later. Irs form 1040ez 2014 If a dwelling unit is used for personal purposes on a day it is rented at a fair rental price (discussed earlier), do not count that day as a day of rental use in applying (2) above. Irs form 1040ez 2014 Instead, count it as a day of personal use in applying both (1) and (2) above. Irs form 1040ez 2014 What is a day of personal use?   A day of personal use of a dwelling unit is any day that the unit is used by any of the following persons. Irs form 1040ez 2014 You or any other person who owns an interest in it, unless you rent it to another owner as his or her main home under a shared equity financing agreement (defined later). Irs form 1040ez 2014 However, see Days used as a main home before or after renting , later. Irs form 1040ez 2014 A member of your family or a member of the family of any other person who owns an interest in it, unless the family member uses the dwelling unit as his or her main home and pays a fair rental price. Irs form 1040ez 2014 Family includes only your spouse, brothers and sisters, half-brothers and half-sisters, ancestors (parents, grandparents, etc. Irs form 1040ez 2014 ), and lineal descendants (children, grandchildren, etc. Irs form 1040ez 2014 ). Irs form 1040ez 2014 Anyone under an arrangement that lets you use some other dwelling unit. Irs form 1040ez 2014 Anyone at less than a fair rental price. Irs form 1040ez 2014 Main home. Irs form 1040ez 2014   If the other person or member of the family in (1) or (2) above has more than one home, his or her main home is ordinarily the one he or she lived in most of the time. Irs form 1040ez 2014 Shared equity financing agreement. Irs form 1040ez 2014   This is an agreement under which two or more persons acquire undivided interests for more than 50 years in an entire dwelling unit, including the land, and one or more of the co-owners is entitled to occupy the unit as his or her main home upon payment of rent to the other co-owner or owners. Irs form 1040ez 2014 Donation of use of the property. Irs form 1040ez 2014   You use a dwelling unit for personal purposes if: You donate the use of the unit to a charitable organization, The organization sells the use of the unit at a fund-raising event, and The “purchaser” uses the unit. Irs form 1040ez 2014 Examples. Irs form 1040ez 2014   The following examples show how to determine if you have days of personal use. Irs form 1040ez 2014 Example 1. Irs form 1040ez 2014 You and your neighbor are co-owners of a condominium at the beach. Irs form 1040ez 2014 Last year, you rented the unit to vacationers whenever possible. Irs form 1040ez 2014 The unit was not used as a main home by anyone. Irs form 1040ez 2014 Your neighbor used the unit for 2 weeks last year; you did not use it at all. Irs form 1040ez 2014 Because your neighbor has an interest in the unit, both of you are considered to have used the unit for personal purposes during those 2 weeks. Irs form 1040ez 2014 Example 2. Irs form 1040ez 2014 You and your neighbors are co-owners of a house under a shared equity financing agreement. Irs form 1040ez 2014 Your neighbors live in the house and pay you a fair rental price. Irs form 1040ez 2014 Even though your neighbors have an interest in the house, the days your neighbors live there are not counted as days of personal use by you. Irs form 1040ez 2014 This is because your neighbors rent the house as their main home under a shared equity financing agreement. Irs form 1040ez 2014 Example 3. Irs form 1040ez 2014 You own a rental property that you rent to your son. Irs form 1040ez 2014 Your son does not own any interest in this property. Irs form 1040ez 2014 He uses it as his main home and pays you a fair rental price. Irs form 1040ez 2014 Your son's use of the property is not personal use by you because your son is using it as his main home, he owns no interest in the property, and he is paying you a fair rental price. Irs form 1040ez 2014 Example 4. Irs form 1040ez 2014 You rent your beach house to Rosa. Irs form 1040ez 2014 Rosa rents her cabin in the mountains to you. Irs form 1040ez 2014 You each pay a fair rental price. Irs form 1040ez 2014 You are using your beach house for personal purposes on the days that Rosa uses it because your house is used by Rosa under an arrangement that allows you to use her cabin. Irs form 1040ez 2014 Example 5. Irs form 1040ez 2014 You rent an apartment to your mother at less than a fair rental price. Irs form 1040ez 2014 You are using the apartment for personal purposes on the days that your mother rents it because you rent it for less than a fair rental price. Irs form 1040ez 2014 Days used for repairs and maintenance. Irs form 1040ez 2014   Any day that you spend working substantially full time repairing and maintaining (not improving) your property is not counted as a day of personal use. Irs form 1040ez 2014 Do not count such a day as a day of personal use even if family members use the property for recreational purposes on the same day. Irs form 1040ez 2014 Example. Irs form 1040ez 2014 Corey owns a cabin in the mountains that he rents for most of the year. Irs form 1040ez 2014 He spends a week at the cabin with family members. Irs form 1040ez 2014 Corey works on maintenance of the cabin 3 or 4 hours each day during the week and spends the rest of the time fishing, hiking, and relaxing. Irs form 1040ez 2014 Corey's family members, however, work substantially full time on the cabin each day during the week. Irs form 1040ez 2014 The main purpose of being at the cabin that week is to do maintenance work. Irs form 1040ez 2014 Therefore, the use of the cabin during the week by Corey and his family will not be considered personal use by Corey. Irs form 1040ez 2014 Days used as a main home before or after renting. Irs form 1040ez 2014   For purposes of determining whether a dwelling unit was used as a home, you may not have to count days you used the property as your main home before or after renting it or offering it for rent as days of personal use. Irs form 1040ez 2014 Do not count them as days of personal use if: You rented or tried to rent the property for 12 or more consecutive months. Irs form 1040ez 2014 You rented or tried to rent the property for a period of less than 12 consecutive months and the period ended because you sold or exchanged the property. Irs form 1040ez 2014 However, this special rule does not apply when dividing expenses between rental and personal use. Irs form 1040ez 2014 See Property Changed to Rental Use in chapter 4. Irs form 1040ez 2014 Example 1. Irs form 1040ez 2014 On February 29, 2012, you moved out of the house you had lived in for 6 years because you accepted a job in another town. Irs form 1040ez 2014 You rented your house at a fair rental price from March 15, 2012, to May 14, 2013 (14 months). Irs form 1040ez 2014 On June 1, 2013, you moved back into your old house. Irs form 1040ez 2014 The days you used the house as your main home from January 1 to February 29, 2012, and from June 1 to December 31, 2013, are not counted as days of personal use. Irs form 1040ez 2014 Therefore, you would use the rules in chapter 1 when figuring your rental income and expenses. Irs form 1040ez 2014 Example 2. Irs form 1040ez 2014 On January 31, you moved out of the condominium where you had lived for 3 years. Irs form 1040ez 2014 You offered it for rent at a fair rental price beginning on February 1. Irs form 1040ez 2014 You were unable to rent it until April. Irs form 1040ez 2014 On September 15, you sold the condominium. Irs form 1040ez 2014 The days you used the condominium as your main home from January 1 to January 31 are not counted as days of personal use when determining whether you used it as a home. Irs form 1040ez 2014 Examples. Irs form 1040ez 2014   The following examples show how to determine whether you used your rental property as a home. Irs form 1040ez 2014 Example 1. Irs form 1040ez 2014 You converted the basement of your home into an apartment with a bedroom, a bathroom, and a small kitchen. Irs form 1040ez 2014 You rented the basement apartment at a fair rental price to college students during the regular school year. Irs form 1040ez 2014 You rented to them on a 9-month lease (273 days). Irs form 1040ez 2014 You figured 10% of the total days rented to others at a fair rental price is 27 days. Irs form 1040ez 2014 During June (30 days), your brothers stayed with you and lived in the basement apartment rent free. Irs form 1040ez 2014 Your basement apartment was used as a home because you used it for personal purposes for 30 days. Irs form 1040ez 2014 Rent-free use by your brothers is considered personal use. Irs form 1040ez 2014 Your personal use (30 days) is more than the greater of 14 days or 10% of the total days it was rented (27 days). Irs form 1040ez 2014 Example 2. Irs form 1040ez 2014 You rented the guest bedroom in your home at a fair rental price during the local college's homecoming, commencement, and football weekends (a total of 27 days). Irs form 1040ez 2014 Your sister-in-law stayed in the room, rent free, for the last 3 weeks (21 days) in July. Irs form 1040ez 2014 You figured 10% of the total days rented to others at a fair rental price is 3 days. Irs form 1040ez 2014 The room was used as a home because you used it for personal purposes for 21 days. Irs form 1040ez 2014 That is more than the greater of 14 days or 10% of the 27 days it was rented (3 days). Irs form 1040ez 2014 Example 3. Irs form 1040ez 2014 You own a condominium apartment in a resort area. Irs form 1040ez 2014 You rented it at a fair rental price for a total of 170 days during the year. Irs form 1040ez 2014 For 12 of these days, the tenant was not able to use the apartment and allowed you to use it even though you did not refund any of the rent. Irs form 1040ez 2014 Your family actually used the apartment for 10 of those days. Irs form 1040ez 2014 Therefore, the apartment is treated as having been rented for 160 (170 – 10) days. Irs form 1040ez 2014 You figured 10% of the total days rented to others at a fair rental price is 16 days. Irs form 1040ez 2014 Your family also used the apartment for 7 other days during the year. Irs form 1040ez 2014 You used the apartment as a home because you used it for personal purposes for 17 days. Irs form 1040ez 2014 That is more than the greater of 14 days or 10% of the 160 days it was rented (16 days). Irs form 1040ez 2014 Minimal rental use. Irs form 1040ez 2014   If you use the dwelling unit as a home and you rent it less than 15 days during the year, that period is not treated as rental activity. Irs form 1040ez 2014 See Used as a home but rented less than 15 days, later, for more information. Irs form 1040ez 2014 Limit on deductions. Irs form 1040ez 2014   Renting a dwelling unit that is considered a home is not a passive activity. Irs form 1040ez 2014 Instead, if your rental expenses are more than your rental income, some or all of the excess expenses cannot be used to offset income from other sources. Irs form 1040ez 2014 The excess expenses that cannot be used to offset income from other sources are carried forward to the next year and treated as rental expenses for the same property. Irs form 1040ez 2014 Any expenses carried forward to the next year will be subject to any limits that apply for that year. Irs form 1040ez 2014 This limitation will apply to expenses carried forward to another year even if you do not use the property as your home for that subsequent year. Irs form 1040ez 2014   To figure your deductible rental expenses for this year and any carryover to next year, use Worksheet 5–1. Irs form 1040ez 2014 Reporting Income and Deductions Property not used for personal purposes. Irs form 1040ez 2014   If you do not use a dwelling unit for personal purposes, see chapter 3 for how to report your rental income and expenses. Irs form 1040ez 2014 Property used for personal purposes. Irs form 1040ez 2014   If you do use a dwelling unit for personal purposes, then how you report your rental income and expenses depends on whether you used the dwelling unit as a home. Irs form 1040ez 2014 Not used as a home. Irs form 1040ez 2014   If you use a dwelling unit for personal purposes, but not as a home, report all the rental income in your income. Irs form 1040ez 2014 Since you used the dwelling unit for personal purposes, you must divide your expenses between the rental use and the personal use as described earlier in this chapter under Dividing Expenses . Irs form 1040ez 2014 The expenses for personal use are not deductible as rental expenses. Irs form 1040ez 2014   Your deductible rental expenses can be more than your gross rental income; however, see Limits on Rental Losses in chapter 3. Irs form 1040ez 2014 Used as a home but rented less than 15 days. Irs form 1040ez 2014   If you use a dwelling unit as a home and you rent it less than 15 days during the year, its primary function is not considered to be rental and it should not be reported on Schedule E (Form 1040). Irs form 1040ez 2014 You are not required to report the rental income and rental expenses from this activity. Irs form 1040ez 2014 The expenses, including qualified mortgage interest, property taxes, and any qualified casualty loss will be reported as normally allowed on Schedule A (Form 1040). Irs form 1040ez 2014 See the Instructions for Schedule A (Form 1040) for more information on deducting these expenses. Irs form 1040ez 2014 Used as a home and rented 15 days or more. Irs form 1040ez 2014   If you use a dwelling unit as a home and rent it 15 days or more during the year, include all your rental income in your income. Irs form 1040ez 2014 Since you used the dwelling unit for personal purposes, you must divide your expenses between the rental use and the personal use as described earlier in this chapter under Dividing Expenses . Irs form 1040ez 2014 The expenses for personal use are not deductible as rental expenses. Irs form 1040ez 2014   If you had a net profit from renting the dwelling unit for the year (that is, if your rental income is more than the total of your rental expenses, including depreciation), deduct all of your rental expenses. Irs form 1040ez 2014 You do not need to use Worksheet 5-1. Irs form 1040ez 2014   However, if you had a net loss from renting the dwelling unit for the year, your deduction for certain rental expenses is limited. Irs form 1040ez 2014 To figure your deductible rental expenses and any carryover to next year, use Worksheet 5–1. Irs form 1040ez 2014 Worksheet 5-1. Irs form 1040ez 2014 Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Use this worksheet only if you answer “yes” to all of the following questions. Irs form 1040ez 2014 Did you use the dwelling unit as a home this year? (See Dwelling Unit Used as a Home . Irs form 1040ez 2014 ) Did you rent the dwelling unit at a fair rental price 15 days or more this year? Is the total of your rental expenses and depreciation more than your rental income? PART I. Irs form 1040ez 2014 Rental Use Percentage A. Irs form 1040ez 2014 Total days available for rent at fair rental price A. Irs form 1040ez 2014       B. Irs form 1040ez 2014 Total days available for rent (line A) but not rented B. Irs form 1040ez 2014       C. Irs form 1040ez 2014 Total days of rental use. Irs form 1040ez 2014 Subtract line B from line A C. Irs form 1040ez 2014       D. Irs form 1040ez 2014 Total days of personal use (including days rented at less than fair rental price) D. Irs form 1040ez 2014       E. Irs form 1040ez 2014 Total days of rental and personal use. Irs form 1040ez 2014 Add lines C and D E. Irs form 1040ez 2014       F. Irs form 1040ez 2014 Percentage of expenses allowed for rental. Irs form 1040ez 2014 Divide line C by line E     F. Irs form 1040ez 2014 . Irs form 1040ez 2014 PART II. Irs form 1040ez 2014 Allowable Rental Expenses 1. Irs form 1040ez 2014 Enter rents received 1. Irs form 1040ez 2014   2a. Irs form 1040ez 2014 Enter the rental portion of deductible home mortgage interest and qualified mortgage insurance premiums (see instructions) 2a. Irs form 1040ez 2014       b. Irs form 1040ez 2014 Enter the rental portion of real estate taxes b. Irs form 1040ez 2014       c. Irs form 1040ez 2014 Enter the rental portion of deductible casualty and theft losses (see instructions) c. Irs form 1040ez 2014       d. Irs form 1040ez 2014 Enter direct rental expenses (see instructions) d. Irs form 1040ez 2014       e. Irs form 1040ez 2014 Fully deductible rental expenses. Irs form 1040ez 2014 Add lines 2a–2d. Irs form 1040ez 2014 Enter here and  on the appropriate lines on Schedule E (see instructions) 2e. Irs form 1040ez 2014   3. Irs form 1040ez 2014 Subtract line 2e from line 1. Irs form 1040ez 2014 If zero or less, enter -0- 3. Irs form 1040ez 2014   4a. Irs form 1040ez 2014 Enter the rental portion of expenses directly related to operating or maintaining  the dwelling unit (such as repairs, insurance, and utilities) 4a. Irs form 1040ez 2014       b. Irs form 1040ez 2014 Enter the rental portion of excess mortgage interest and qualified mortgage insurance premiums (see instructions) b. Irs form 1040ez 2014       c. Irs form 1040ez 2014 Carryover of operating expenses from 2012 worksheet c. Irs form 1040ez 2014       d. Irs form 1040ez 2014 Add lines 4a–4c d. Irs form 1040ez 2014       e. Irs form 1040ez 2014 Allowable expenses. Irs form 1040ez 2014 Enter the smaller of line 3 or line 4d (see instructions) 4e. Irs form 1040ez 2014   5. Irs form 1040ez 2014 Subtract line 4e from line 3. Irs form 1040ez 2014 If zero or less, enter -0- 5. Irs form 1040ez 2014   6a. Irs form 1040ez 2014 Enter the rental portion of excess casualty and theft losses (see instructions) 6a. Irs form 1040ez 2014       b. Irs form 1040ez 2014 Enter the rental portion of depreciation of the dwelling unit b. Irs form 1040ez 2014       c. Irs form 1040ez 2014 Carryover of excess casualty losses and depreciation from 2012 worksheet c. Irs form 1040ez 2014       d. Irs form 1040ez 2014 Add lines 6a–6c d. Irs form 1040ez 2014       e. Irs form 1040ez 2014 Allowable excess casualty and theft losses and depreciation. Irs form 1040ez 2014 Enter the smaller of  line 5 or line 6d (see instructions) 6e. Irs form 1040ez 2014   PART III. Irs form 1040ez 2014 Carryover of Unallowed Expenses to Next Year 7a. Irs form 1040ez 2014 Operating expenses to be carried over to next year. Irs form 1040ez 2014 Subtract line 4e from line 4d 7a. Irs form 1040ez 2014   b. Irs form 1040ez 2014 Excess casualty and theft losses and depreciation to be carried over to next year. Irs form 1040ez 2014  Subtract line 6e from line 6d b. Irs form 1040ez 2014   Worksheet 5-1 Instructions. Irs form 1040ez 2014 Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Caution. Irs form 1040ez 2014 Use the percentage determined in Part I, line F, to figure the rental portions to enter on lines 2a–2c, 4a–4b, and 6a–6b of  Part II. Irs form 1040ez 2014 Line 2a. Irs form 1040ez 2014 Figure the mortgage interest on the dwelling unit that you could deduct on Schedule A as if you had not rented the unit. Irs form 1040ez 2014 Do not include interest on a loan that did not benefit the dwelling unit. Irs form 1040ez 2014 For example, do not include interest on a home equity loan used to pay off credit cards or other personal loans, buy a car, or pay college tuition. Irs form 1040ez 2014 Include interest on a loan used to buy, build, or improve the dwelling unit, or to refinance such a loan. Irs form 1040ez 2014 Include the rental portion of this interest in the total you enter on line 2a of the worksheet. Irs form 1040ez 2014   Figure the qualified mortgage insurance premiums on the dwelling unit that you could deduct on line 13 of Schedule A as if you had not rented the unit. Irs form 1040ez 2014 See the Schedule A instructions. Irs form 1040ez 2014 However, figure your adjusted gross income (Form 1040, line 38) without your rental income and expenses from the dwelling unit. Irs form 1040ez 2014 See Line 4b to deduct the part of the qualified mortgage insurance premiums not allowed because of the adjusted gross income limit. Irs form 1040ez 2014 Include the rental portion of the amount from Schedule A, line 13, in the total you enter on line 2a of the worksheet. Irs form 1040ez 2014   Note. Irs form 1040ez 2014 Do not file this Schedule A or use it to figure the amount to deduct on line 13 of that schedule. Irs form 1040ez 2014 Instead, figure the personal portion on a separate Schedule A. Irs form 1040ez 2014 If you have deducted mortgage interest or qualified mortgage insurance premiums on the dwelling unit on other forms, such as Schedule C or F, remember to reduce your Schedule A deduction by that amount. Irs form 1040ez 2014           Line 2c. Irs form 1040ez 2014 Figure the casualty and theft losses related to the dwelling unit that you could deduct on Schedule A as if you had not rented the dwelling unit. Irs form 1040ez 2014 To do this, complete Section A of Form 4684, Casualties and Thefts, treating the losses as personal losses. Irs form 1040ez 2014 If any of the loss is due to a federally declared disaster, see the Instructions for Form 4684. Irs form 1040ez 2014 On Form 4684, line 17, enter 10% of your adjusted gross income figured without your rental income and expenses from the dwelling unit. Irs form 1040ez 2014 Enter the rental portion of the result from Form 4684, line 18, on line 2c of this worksheet. Irs form 1040ez 2014   Note. Irs form 1040ez 2014 Do not file this Form 4684 or use it to figure your personal losses on Schedule A. Irs form 1040ez 2014 Instead, figure the personal portion on a separate Form 4684. Irs form 1040ez 2014           Line 2d. Irs form 1040ez 2014 Enter the total of your rental expenses that are directly related only to the rental activity. Irs form 1040ez 2014 These include interest on loans used for rental activities other than to buy, build, or improve the dwelling unit. Irs form 1040ez 2014 Also include rental agency fees, advertising, office supplies, and depreciation on office equipment used in your rental activity. Irs form 1040ez 2014           Line 2e. Irs form 1040ez 2014 You can deduct the amounts on lines 2a, 2b, 2c, and 2d as rental expenses on Schedule E even if your rental expenses are more than your rental income. Irs form 1040ez 2014 Enter the amounts on lines 2a, 2b, 2c, and 2d on the appropriate lines of Schedule E. Irs form 1040ez 2014           Line 4b. Irs form 1040ez 2014 On line 2a, you entered the rental portion of the mortgage interest or qualified mortgage insurance premiums you could deduct on Schedule A if you had not rented the dwelling unit. Irs form 1040ez 2014 If you had additional mortgage interest and qualified mortgage insurance premiums that would not be deductible on Schedule A because of limits imposed on them, enter on line 4b of this worksheet the rental portion of those excess amounts. Irs form 1040ez 2014 Do not include interest on a loan that did not benefit the dwelling unit  (as explained in the line 2a instructions). Irs form 1040ez 2014           Line 4e. Irs form 1040ez 2014 You can deduct the amounts on lines 4a, 4b, and 4c as rental expenses on Schedule E only to the extent they are not more than the amount on line 4e. Irs form 1040ez 2014 *           Line 6a. Irs form 1040ez 2014 To find the rental portion of excess casualty and theft losses, use the Form 4684 you prepared for line 2c of this worksheet. Irs form 1040ez 2014   A. Irs form 1040ez 2014 Enter the amount from Form 4684, line 10       B. Irs form 1040ez 2014 Enter the rental portion of line A       C. Irs form 1040ez 2014 Enter the amount from line 2c of this worksheet       D. Irs form 1040ez 2014 Subtract line C from line B. Irs form 1040ez 2014 Enter the result here and on line 6a of this worksheet               Line 6e. Irs form 1040ez 2014 You can deduct the amounts on lines 6a, 6b, and 6c as rental expenses on Schedule E only to the extent they are not more than the amount on line 6e. Irs form 1040ez 2014 * *Allocating the limited deduction. Irs form 1040ez 2014 If you cannot deduct all of the amount on line 4d or 6d this year, you can allocate the allowable deduction in any way you wish among the expenses included on line 4d or 6d. Irs form 1040ez 2014 Enter the amount you allocate to each expense on the appropriate line of Schedule E, Part I. Irs form 1040ez 2014 Prev  Up  Next   Home   More Online Publications