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Ohio Tax Form 1040ez

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Ohio Tax Form 1040ez

Ohio tax form 1040ez 9. Ohio tax form 1040ez   Rental Income and Expenses Table of Contents Introduction Useful Items - You may want to see: Rental Income Rental ExpensesVacant while listed for sale. Ohio tax form 1040ez Repairs and Improvements Other Expenses Property Changed to Rental Use Renting Part of Property Not Rented for Profit Personal Use of Dwelling Unit (Including Vacation Home)Example. Ohio tax form 1040ez Dividing Expenses Dwelling Unit Used as a Home Reporting Income and Deductions DepreciationChanging your accounting method to deduct unclaimed depreciation. Ohio tax form 1040ez Limits on Rental LossesAt-Risk Rules Passive Activity Limits How To Report Rental Income and ExpensesSchedule E (Form 1040) Introduction This chapter discusses rental income and expenses. Ohio tax form 1040ez It also covers the following topics. Ohio tax form 1040ez Personal use of dwelling unit (including vacation home). Ohio tax form 1040ez Depreciation. Ohio tax form 1040ez Limits on rental losses. Ohio tax form 1040ez How to report your rental income and expenses. Ohio tax form 1040ez If you sell or otherwise dispose of your rental property, see Publication 544, Sales and Other Dispositions of Assets. Ohio tax form 1040ez If you have a loss from damage to, or theft of, rental property, see Publication 547, Casualties, Disasters, and Thefts. Ohio tax form 1040ez If you rent a condominium or a cooperative apartment, some special rules apply to you even though you receive the same tax treatment as other owners of rental property. Ohio tax form 1040ez See Publication 527, Residential Rental Property, for more information. Ohio tax form 1040ez Useful Items - You may want to see: Publication 527 Residential Rental Property 534 Depreciating Property Placed in Service Before 1987 535 Business Expenses 925 Passive Activity and At-Risk Rules 946 How To Depreciate Property Form (and Instructions) 4562 Depreciation and Amortization 6251 Alternative Minimum Tax—Individuals 8582 Passive Activity Loss Limitations Schedule E (Form 1040) Supplemental Income and Loss Rental Income In most cases, you must include in your gross income all amounts you receive as rent. Ohio tax form 1040ez Rental income is any payment you receive for the use or occupation of property. Ohio tax form 1040ez In addition to amounts you receive as normal rent payments, there are other amounts that may be rental income. Ohio tax form 1040ez When to report. Ohio tax form 1040ez   If you are a cash-basis taxpayer, you report rental income on your return for the year you actually or constructively receive it. Ohio tax form 1040ez You are a cash-basis taxpayer if you report income in the year you receive it, regardless of when it was earned. Ohio tax form 1040ez You constructively receive income when it is made available to you, for example, by being credited to your bank account. Ohio tax form 1040ez   For more information about when you constructively receive income, see Accounting Methods in chapter 1. Ohio tax form 1040ez Advance rent. Ohio tax form 1040ez   Advance rent is any amount you receive before the period that it covers. Ohio tax form 1040ez Include advance rent in your rental income in the year you receive it regardless of the period covered or the method of accounting you use. Ohio tax form 1040ez Example. Ohio tax form 1040ez You sign a 10-year lease to rent your property. Ohio tax form 1040ez In the first year, you receive $5,000 for the first year's rent and $5,000 as rent for the last year of the lease. Ohio tax form 1040ez You must include $10,000 in your income in the first year. Ohio tax form 1040ez Canceling a lease. Ohio tax form 1040ez   If your tenant pays you to cancel a lease, the amount you receive is rent. Ohio tax form 1040ez Include the payment in your income in the year you receive it regardless of your method of accounting. Ohio tax form 1040ez Expenses paid by tenant. Ohio tax form 1040ez   If your tenant pays any of your expenses, the payments are rental income. Ohio tax form 1040ez Because you must include this amount in income, you can deduct the expenses if they are deductible rental expenses. Ohio tax form 1040ez See Rental Expenses , later, for more information. Ohio tax form 1040ez Property or services. Ohio tax form 1040ez   If you receive property or services, instead of money, as rent, include the fair market value of the property or services in your rental income. Ohio tax form 1040ez   If the services are provided at an agreed upon or specified price, that price is the fair market value unless there is evidence to the contrary. Ohio tax form 1040ez Security deposits. Ohio tax form 1040ez   Do not include a security deposit in your income when you receive it if you plan to return it to your tenant at the end of the lease. Ohio tax form 1040ez But if you keep part or all of the security deposit during any year because your tenant does not live up to the terms of the lease, include the amount you keep in your income in that year. Ohio tax form 1040ez   If an amount called a security deposit is to be used as a final payment of rent, it is advance rent. Ohio tax form 1040ez Include it in your income when you receive it. Ohio tax form 1040ez Part interest. Ohio tax form 1040ez   If you own a part interest in rental property, you must report your part of the rental income from the property. Ohio tax form 1040ez Rental of property also used as your home. Ohio tax form 1040ez   If you rent property that you also use as your home and you rent it less than 15 days during the tax year, do not include the rent you receive in your income and do not deduct rental expenses. Ohio tax form 1040ez However, you can deduct on Schedule A (Form 1040) the interest, taxes, and casualty and theft losses that are allowed for nonrental property. Ohio tax form 1040ez See Personal Use of Dwelling Unit (Including Vacation Home) , later. Ohio tax form 1040ez Rental Expenses This part discusses expenses of renting property that you ordinarily can deduct from your rental income. Ohio tax form 1040ez It includes information on the expenses you can deduct if you rent part of your property, or if you change your property to rental use. Ohio tax form 1040ez Depreciation , which you can also deduct from your rental income, is discussed later. Ohio tax form 1040ez Personal use of rental property. Ohio tax form 1040ez   If you sometimes use your rental property for personal purposes, you must divide your expenses between rental and personal use. Ohio tax form 1040ez Also, your rental expense deductions may be limited. Ohio tax form 1040ez See Personal Use of Dwelling Unit (Including Vacation Home) , later. Ohio tax form 1040ez Part interest. Ohio tax form 1040ez   If you own a part interest in rental property, you can deduct expenses that you paid according to your percentage of ownership. Ohio tax form 1040ez When to deduct. Ohio tax form 1040ez   If you are a cash-basis taxpayer, you generally deduct your rental expenses in the year you pay them. Ohio tax form 1040ez Depreciation. Ohio tax form 1040ez   You can begin to depreciate rental property when it is ready and available for rent. Ohio tax form 1040ez See Placed-in-Service under When Does Depreciation Begin and End in chapter 2 of Publication 527. Ohio tax form 1040ez Pre-rental expenses. Ohio tax form 1040ez   You can deduct your ordinary and necessary expenses for managing, conserving, or maintaining rental property from the time you make it available for rent. Ohio tax form 1040ez Uncollected rent. Ohio tax form 1040ez   If you are a cash-basis taxpayer, do not deduct uncollected rent. Ohio tax form 1040ez Because you have not included it in your income, it is not deductible. Ohio tax form 1040ez Vacant rental property. Ohio tax form 1040ez   If you hold property for rental purposes, you may be able to deduct your ordinary and necessary expenses (including depreciation) for managing, conserving, or maintaining the property while the property is vacant. Ohio tax form 1040ez However, you cannot deduct any loss of rental income for the period the property is vacant. Ohio tax form 1040ez Vacant while listed for sale. Ohio tax form 1040ez   If you sell property you held for rental purposes, you can deduct the ordinary and necessary expenses for managing, conserving, or maintaining the property until it is sold. Ohio tax form 1040ez If the property is not held out and available for rent while listed for sale, the expenses are not deductible rental expenses. Ohio tax form 1040ez Repairs and Improvements Generally, an expense for repairing or maintaining your rental property may be deducted if you are not required to capitalize the expense. Ohio tax form 1040ez Improvements. Ohio tax form 1040ez   You must capitalize any expense you pay to improve your rental property. Ohio tax form 1040ez An expense is for an improvement if it results in a betterment to your property, restores your property, or adapts your property to a new or different use. Ohio tax form 1040ez Betterments. Ohio tax form 1040ez   Expenses that may result in a betterment to your property include expenses for fixing a pre-existing defect or condition, enlarging or expanding your property, or increasing the capacity, strength, or quality of your property. Ohio tax form 1040ez Restoration. Ohio tax form 1040ez   Expenses that may be for restoration include expenses for replacing a substantial structural part of your property, repairing damage to your property after you properly adjusted the basis of your property as a result of a casualty loss, or rebuilding your property to a like-new condition. Ohio tax form 1040ez Adaptation. Ohio tax form 1040ez   Expenses that may be for adaptation include expenses for altering your property to a use that is not consistent with the intended ordinary use of your property when you began renting the property. Ohio tax form 1040ez Separate the costs of repairs and improvements, and keep accurate records. Ohio tax form 1040ez You will need to know the cost of improvements when you sell or depreciate your property. Ohio tax form 1040ez The expenses you capitalize for improving your property can generally be depreciated as if the improvement were separate property. Ohio tax form 1040ez Other Expenses Other expenses you can deduct from your rental income include advertising, cleaning and maintenance, utilities, fire and liability insurance, taxes, interest, commissions for the collection of rent, ordinary and necessary travel and transportation, and other expenses, discussed next. Ohio tax form 1040ez Insurance premiums paid in advance. Ohio tax form 1040ez   If you pay an insurance premium for more than one year in advance, for each year of coverage you can deduct the part of the premium payment that will apply to that year. Ohio tax form 1040ez You cannot deduct the total premium in the year you pay it. Ohio tax form 1040ez Legal and other professional fees. Ohio tax form 1040ez   You can deduct, as a rental expense, legal and other professional expenses, such as tax return preparation fees you paid to prepare Schedule E (Form 1040), Part I. Ohio tax form 1040ez For example, on your 2013 Schedule E, you can deduct fees paid in 2013 to prepare your 2012 Schedule E, Part I. Ohio tax form 1040ez You can also deduct, as a rental expense, any expense (other than federal taxes and penalties) you paid to resolve a tax underpayment related to your rental activities. Ohio tax form 1040ez Local benefit taxes. Ohio tax form 1040ez   In most cases, you cannot deduct charges for local benefits that increase the value of your property, such as charges for putting in streets, sidewalks, or water and sewer systems. Ohio tax form 1040ez These charges are nondepreciable capital expenditures, and must be added to the basis of your property. Ohio tax form 1040ez However, you can deduct local benefit taxes that are for maintaining, repairing, or paying interest charges for the benefits. Ohio tax form 1040ez Local transportation expenses. Ohio tax form 1040ez    You may be able to deduct your ordinary and necessary local transportation expenses if you incur them to collect rental income or to manage, conserve, or maintain your rental property. Ohio tax form 1040ez However, transportation expenses incurred to travel between your home and a rental property generally constitute nondeductible commuting costs unless you use your home as your principal place of business. Ohio tax form 1040ez See Publication 587, Business Use of Your Home, for information on determining if your home office qualifies as a principal place of business. Ohio tax form 1040ez   Generally, if you use your personal car, pickup truck, or light van for rental activities, you can deduct the expenses using one of two methods: actual expenses or the standard mileage rate. Ohio tax form 1040ez For 2013, the standard mileage rate for business use is 56. Ohio tax form 1040ez 5 cents per mile. Ohio tax form 1040ez For more information, see chapter 26. Ohio tax form 1040ez    To deduct car expenses under either method, you must keep records that follow the rules in chapter 26. Ohio tax form 1040ez In addition, you must complete Form 4562, Part V, and attach it to your tax return. Ohio tax form 1040ez Rental of equipment. Ohio tax form 1040ez   You can deduct the rent you pay for equipment that you use for rental purposes. Ohio tax form 1040ez However, in some cases, lease contracts are actually purchase contracts. Ohio tax form 1040ez If so, you cannot deduct these payments. Ohio tax form 1040ez You can recover the cost of purchased equipment through depreciation. Ohio tax form 1040ez Rental of property. Ohio tax form 1040ez   You can deduct the rent you pay for property that you use for rental purposes. Ohio tax form 1040ez If you buy a leasehold for rental purposes, you can deduct an equal part of the cost each year over the term of the lease. Ohio tax form 1040ez Travel expenses. Ohio tax form 1040ez   You can deduct the ordinary and necessary expenses of traveling away from home if the primary purpose of the trip is to collect rental income or to manage, conserve, or maintain your rental property. Ohio tax form 1040ez You must properly allocate your expenses between rental and nonrental activities. Ohio tax form 1040ez You cannot deduct the cost of traveling away from home if the primary purpose of the trip was to improve your property. Ohio tax form 1040ez You recover the cost of improvements by taking depreciation. Ohio tax form 1040ez For information on travel expenses, see chapter 26. Ohio tax form 1040ez    To deduct travel expenses, you must keep records that follow the rules in chapter 26. Ohio tax form 1040ez   See Rental Expenses in Publication 527 for more information. Ohio tax form 1040ez Property Changed to Rental Use If you change your home or other property (or a part of it) to rental use at any time other than the beginning of your tax year, you must divide yearly expenses, such as taxes and insurance, between rental use and personal use. Ohio tax form 1040ez You can deduct as rental expenses only the part of the expense that is for the part of the year the property was used or held for rental purposes. Ohio tax form 1040ez You cannot deduct depreciation or insurance for the part of the year the property was held for personal use. Ohio tax form 1040ez However, you can include the home mortgage interest, qualified mortgage insurance premiums, and real estate tax expenses for the part of the year the property was held for personal use as an itemized deduction on Schedule A (Form 1040). Ohio tax form 1040ez Example. Ohio tax form 1040ez Your tax year is the calendar year. Ohio tax form 1040ez You moved from your home in May and started renting it out on June 1. Ohio tax form 1040ez You can deduct as rental expenses seven-twelfths of your yearly expenses, such as taxes and insurance. Ohio tax form 1040ez Starting with June, you can deduct as rental expenses the amounts you pay for items generally billed monthly, such as utilities. Ohio tax form 1040ez Renting Part of Property If you rent part of your property, you must divide certain expenses between the part of the property used for rental purposes and the part of the property used for personal purposes, as though you actually had two separate pieces of property. Ohio tax form 1040ez You can deduct the expenses related to the part of the property used for rental purposes, such as home mortgage interest, qualified mortgage insurance premiums, and real estate taxes, as rental expenses on Schedule E (Form 1040). Ohio tax form 1040ez You can also deduct as rental expenses a portion of other expenses that normally are nondeductible personal expenses, such as expenses for electricity or painting the outside of your house. Ohio tax form 1040ez There is no change in the types of expenses deductible for the personal-use part of your property. Ohio tax form 1040ez Generally, these expenses may be deducted only if you itemize your deductions on Schedule A (Form 1040). Ohio tax form 1040ez You cannot deduct any part of the cost of the first phone line even if your tenants have unlimited use of it. Ohio tax form 1040ez You do not have to divide the expenses that belong only to the rental part of your property. Ohio tax form 1040ez For example, if you paint a room that you rent, or if you pay premiums for liability insurance in connection with renting a room in your home, your entire cost is a rental expense. Ohio tax form 1040ez If you install a second phone line strictly for your tenants' use, all of the cost of the second line is deductible as a rental expense. Ohio tax form 1040ez You can deduct depreciation, discussed later, on the part of the house used for rental purposes as well as on the furniture and equipment you use for rental purposes. Ohio tax form 1040ez How to divide expenses. Ohio tax form 1040ez   If an expense is for both rental use and personal use, such as mortgage interest or heat for the entire house, you must divide the expense between the rental use and the personal use. Ohio tax form 1040ez You can use any reasonable method for dividing the expense. Ohio tax form 1040ez It may be reasonable to divide the cost of some items (for example, water) based on the number of people using them. Ohio tax form 1040ez The two most common methods for dividing an expense are based on (1) the number of rooms in your home, and (2) the square footage of your home. Ohio tax form 1040ez Not Rented for Profit If you do not rent your property to make a profit, you can deduct your rental expenses only up to the amount of your rental income. Ohio tax form 1040ez You cannot deduct a loss or carry forward to the next year any rental expenses that are more than your rental income for the year. Ohio tax form 1040ez For more information about the rules for an activity not engaged in for profit, see Not-for-Profit Activities in chapter 1 of Publication 535. Ohio tax form 1040ez Where to report. Ohio tax form 1040ez   Report your not-for-profit rental income on Form 1040, line 21. Ohio tax form 1040ez For example, you can include your mortgage interest and any qualified mortgage insurance premiums (if you use the property as your main home or second home), real estate taxes, and casualty losses on the appropriate lines of Schedule A (Form 1040) if you itemize your deductions. Ohio tax form 1040ez   If you itemize your deductions, claim your other rental expenses, subject to the rules explained in chapter 1 of Publication 535, as miscellaneous itemized deductions on Form 1040, Schedule A, line 23. Ohio tax form 1040ez You can deduct these expenses only if they, together with certain other miscellaneous itemized deductions, total more than 2% of your adjusted gross income. Ohio tax form 1040ez Personal Use of Dwelling Unit (Including Vacation Home) 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. Ohio tax form 1040ez 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. Ohio tax form 1040ez Only your rental expenses may be deducted on Schedule E (Form 1040). Ohio tax form 1040ez Some of your personal expenses may be deductible if you itemize your deductions on Schedule A (Form 1040). Ohio tax form 1040ez You must also determine if the dwelling unit is considered a home. Ohio tax form 1040ez The amount of rental expenses that you can deduct may be limited if the dwelling unit is considered a home. Ohio tax form 1040ez Whether a dwelling unit is considered a home depends on how many days during the year are considered to be days of personal use. Ohio tax form 1040ez 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. Ohio tax form 1040ez Dwelling unit. Ohio tax form 1040ez   A dwelling unit includes a house, apartment, condominium, mobile home, boat, vacation home, or similar property. Ohio tax form 1040ez It also includes all structures or other property belonging to the dwelling unit. Ohio tax form 1040ez A dwelling unit has basic living accommodations, such as sleeping space, a toilet, and cooking facilities. Ohio tax form 1040ez   A dwelling unit does not include property used solely as a hotel, motel, inn, or similar establishment. Ohio tax form 1040ez 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. Ohio tax form 1040ez Example. Ohio tax form 1040ez   You rent a room in your home that is always available for short-term occupancy by paying customers. Ohio tax form 1040ez You do not use the room yourself, and you allow only paying customers to use the room. Ohio tax form 1040ez The room is used solely as a hotel, motel, inn, or similar establishment and is not a dwelling unit. Ohio tax form 1040ez 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. Ohio tax form 1040ez When dividing your expenses, follow these rules. Ohio tax form 1040ez 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. Ohio tax form 1040ez This rule does not apply when determining whether you used the unit as a home. Ohio tax form 1040ez Any day that the unit is available for rent but not actually rented is not a day of rental use. Ohio tax form 1040ez Example. Ohio tax form 1040ez Your beach cottage was available for rent from June 1 through August 31 (92 days). Ohio tax form 1040ez During that time, 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. Ohio tax form 1040ez 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. Ohio tax form 1040ez Your family also used the cottage during the last 2 weeks of May (14 days). Ohio tax form 1040ez The cottage was not used at all before May 17 or after August 31. Ohio tax form 1040ez You figure the part of the cottage expenses to treat as rental expenses as follows. Ohio tax form 1040ez The cottage was used for rental a total of 85 days (92 − 7). Ohio tax form 1040ez The days it was available for rent but not rented (7 days) are not days of rental use. Ohio tax form 1040ez The July weekend (2 days) you used it is rental use because you received a fair rental price for the weekend. Ohio tax form 1040ez You used the cottage for personal purposes for 14 days (the last 2 weeks in May). Ohio tax form 1040ez The total use of the cottage was 99 days (14 days personal use + 85 days rental use). Ohio tax form 1040ez Your rental expenses are 85/99 (86%) of the cottage expenses. Ohio tax form 1040ez Note. Ohio tax form 1040ez 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. Ohio tax form 1040ez Therefore, you had 16 days of personal use and 83 days of rental use for this purpose. Ohio tax form 1040ez 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. Ohio tax form 1040ez If you have a net loss, you may not be able to deduct all of the rental expenses. Ohio tax form 1040ez See Dwelling Unit Used as a Home, next. Ohio tax form 1040ez 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. Ohio tax form 1040ez 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. Ohio tax form 1040ez See What is a day of personal use , later. Ohio tax form 1040ez Fair rental price. Ohio tax form 1040ez   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. Ohio tax form 1040ez 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. Ohio tax form 1040ez   If a dwelling unit is used for personal purposes on a day it is rented at a fair rental price, do not count that day as a day of rental use in applying (2) above. Ohio tax form 1040ez Instead, count it as a day of personal use in applying both (1) and (2) above. Ohio tax form 1040ez 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. Ohio tax form 1040ez You or any other person who has an interest in the unit, unless you rent it to another owner as his or her main home under a shared equity financing agreement (defined later). Ohio tax form 1040ez However, see Days used as a main home before or after renting , later. Ohio tax form 1040ez A member of your family or a member of the family of any other person who owns an interest in the unit, unless the family member uses the dwelling unit as his or her main home and pays a fair rental price. Ohio tax form 1040ez Family includes only your spouse, brothers and sisters, half-brothers and half-sisters, ancestors (parents, grandparents, etc. Ohio tax form 1040ez ), and lineal descendants (children, grandchildren, etc. Ohio tax form 1040ez ). Ohio tax form 1040ez Anyone under an arrangement that lets you use some other dwelling unit. Ohio tax form 1040ez Anyone at less than a fair rental price. Ohio tax form 1040ez Main home. Ohio tax form 1040ez   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. Ohio tax form 1040ez Shared equity financing agreement. Ohio tax form 1040ez   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. Ohio tax form 1040ez Donation of use of property. Ohio tax form 1040ez   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. Ohio tax form 1040ez Examples. Ohio tax form 1040ez   The following examples show how to determine days of personal use. Ohio tax form 1040ez Example 1. Ohio tax form 1040ez You and your neighbor are co-owners of a condominium at the beach. Ohio tax form 1040ez Last year, you rented the unit to vacationers whenever possible. Ohio tax form 1040ez The unit was not used as a main home by anyone. Ohio tax form 1040ez Your neighbor used the unit for 2 weeks last year; you did not use it at all. Ohio tax form 1040ez 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. Ohio tax form 1040ez Example 2. Ohio tax form 1040ez You and your neighbors are co-owners of a house under a shared equity financing agreement. Ohio tax form 1040ez Your neighbors live in the house and pay you a fair rental price. Ohio tax form 1040ez 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. Ohio tax form 1040ez This is because your neighbors rent the house as their main home under a shared equity financing agreement. Ohio tax form 1040ez Example 3. Ohio tax form 1040ez You own a rental property that you rent to your son. Ohio tax form 1040ez Your son does not own any interest in this property. Ohio tax form 1040ez He uses it as his main home and pays you a fair rental price. Ohio tax form 1040ez 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. Ohio tax form 1040ez Example 4. Ohio tax form 1040ez You rent your beach house to Joshua. Ohio tax form 1040ez Joshua rents his cabin in the mountains to you. Ohio tax form 1040ez You each pay a fair rental price. Ohio tax form 1040ez You are using your house for personal purposes on the days that Joshua uses it because your house is used by Joshua under an arrangement that allows you to use his house. Ohio tax form 1040ez Days used for repairs and maintenance. Ohio tax form 1040ez   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. Ohio tax form 1040ez 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. Ohio tax form 1040ez Days used as a main home before or after renting. Ohio tax form 1040ez   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. Ohio tax form 1040ez Do not count them as days of personal use if: You rented or tried to rent the property for 12 or more consecutive months. Ohio tax form 1040ez 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. Ohio tax form 1040ez However, this special rule does not apply when dividing expenses between rental and personal use. Ohio tax form 1040ez Examples. Ohio tax form 1040ez   The following examples show how to determine whether you used your rental property as a home. Ohio tax form 1040ez Example 1. Ohio tax form 1040ez You converted the basement of your home into an apartment with a bedroom, a bathroom, and a small kitchen. Ohio tax form 1040ez You rented the basement apartment at a fair rental price to college students during the regular school year. Ohio tax form 1040ez You rented to them on a 9-month lease (273 days). Ohio tax form 1040ez You figured 10% of the total days rented to others at a fair rental price is 27 days. Ohio tax form 1040ez During June (30 days), your brothers stayed with you and lived in the basement apartment rent free. Ohio tax form 1040ez Your basement apartment was used as a home because you used it for personal purposes for 30 days. Ohio tax form 1040ez Rent-free use by your brothers is considered personal use. Ohio tax form 1040ez Your personal use (30 days) is more than the greater of 14 days or 10% of the total days it was rented (27 days). Ohio tax form 1040ez Example 2. Ohio tax form 1040ez 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). Ohio tax form 1040ez Your sister-in-law stayed in the room, rent free, for the last 3 weeks (21 days) in July. Ohio tax form 1040ez You figured 10% of the total days rented to others at a fair rental price is 3 days. Ohio tax form 1040ez The room was used as a home because you used it for personal purposes for 21 days. Ohio tax form 1040ez That is more than the greater of 14 days or 10% of the 27 days it was rented (3 days). Ohio tax form 1040ez Example 3. Ohio tax form 1040ez You own a condominium apartment in a resort area. Ohio tax form 1040ez You rented it at a fair rental price for a total of 170 days during the year. Ohio tax form 1040ez For 12 of those 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. Ohio tax form 1040ez Your family actually used the apartment for 10 of those days. Ohio tax form 1040ez Therefore, the apartment is treated as having been rented for 160 (170 − 10) days. Ohio tax form 1040ez You figured 10% of the total days rented to others at a fair rental price is 16 days. Ohio tax form 1040ez Your family also used the apartment for 7 other days during the year. Ohio tax form 1040ez You used the apartment as a home because you used it for personal purposes for 17 days. Ohio tax form 1040ez That is more than the greater of 14 days or 10% of the 160 days it was rented (16 days). Ohio tax form 1040ez Minimal rental use. Ohio tax form 1040ez   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. Ohio tax form 1040ez See Used as a home but rented less than 15 days , later, for more information. Ohio tax form 1040ez Limit on deductions. Ohio tax form 1040ez   Renting a dwelling unit that is considered a home is not a passive activity. Ohio tax form 1040ez 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. Ohio tax form 1040ez 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. Ohio tax form 1040ez Any expenses carried forward to the next year will be subject to any limits that apply for that year. Ohio tax form 1040ez 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. Ohio tax form 1040ez   To figure your deductible rental expenses for this year and any carryover to next year, use Worksheet 9-1. Ohio tax form 1040ez Reporting Income and Deductions Property not used for personal purposes. Ohio tax form 1040ez   If you do not use a dwelling unit for personal purposes, see How To Report Rental Income and Expenses , later, for how to report your rental income and expenses. Ohio tax form 1040ez Property used for personal purposes. Ohio tax form 1040ez   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. Ohio tax form 1040ez Not used as a home. Ohio tax form 1040ez   If you use a dwelling unit for personal purposes, but not as a home, report all the rental income in your income. Ohio tax form 1040ez 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 Dividing Expenses . Ohio tax form 1040ez The expenses for personal use are not deductible as rental expenses. Ohio tax form 1040ez   Your deductible rental expenses can be more than your gross rental income; however, see Limits on Rental Losses , later. Ohio tax form 1040ez Used as a home but rented less than 15 days. Ohio tax form 1040ez   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). Ohio tax form 1040ez You are not required to report the rental income and rental expenses from this activity. Ohio tax form 1040ez The expenses, including qualified mortgage interest, property taxes, and any qualified casualty loss will be reported as normally allowed on Schedule A (Form 1040). Ohio tax form 1040ez See the Instructions for Schedule A (Form 1040) for more information on deducting these expenses. Ohio tax form 1040ez Used as a home and rented 15 days or more. Ohio tax form 1040ez   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. Ohio tax form 1040ez 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 Dividing Expenses . Ohio tax form 1040ez The expenses for personal use are not deductible as rental expenses. Ohio tax form 1040ez   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. Ohio tax form 1040ez You do not need to use Worksheet 9-1. Ohio tax form 1040ez   However, if you had a net loss from renting the dwelling unit for the year, your deduction for certain rental expenses is limited. Ohio tax form 1040ez To figure your deductible rental expenses and any carryover to next year, use Worksheet 9-1. Ohio tax form 1040ez Depreciation You recover the cost of income-producing property through yearly tax deductions. Ohio tax form 1040ez You do this by depreciating the property; that is, by deducting some of the cost each year on your tax return. Ohio tax form 1040ez Three factors determine how much depreciation you can deduct each year: (1) your basis in the property, (2) the recovery period for the property, and (3) the depreciation method used. Ohio tax form 1040ez You cannot simply deduct your mortgage or principal payments, or the cost of furniture, fixtures, and equipment, as an expense. Ohio tax form 1040ez You can deduct depreciation only on the part of your property used for rental purposes. Ohio tax form 1040ez Depreciation reduces your basis for figuring gain or loss on a later sale or exchange. Ohio tax form 1040ez You may have to use Form 4562 to figure and report your depreciation. Ohio tax form 1040ez See How To Report Rental Income and Expenses , later. Ohio tax form 1040ez Alternative minimum tax (AMT). Ohio tax form 1040ez    If you use accelerated depreciation, you may be subject to the AMT. Ohio tax form 1040ez Accelerated depreciation allows you to deduct more depreciation earlier in the recovery period than you could deduct using a straight line method (same deduction each year). Ohio tax form 1040ez Claiming the correct amount of depreciation. Ohio tax form 1040ez   You should claim the correct amount of depreciation each tax year. Ohio tax form 1040ez If you did not claim all the depreciation you were entitled to deduct, you must still reduce your basis in the property by the full amount of depreciation that you could have deducted. Ohio tax form 1040ez   If you deducted an incorrect amount of depreciation for property in any year, you may be able to make a correction by filing Form 1040X, Amended U. Ohio tax form 1040ez S Individual Income Tax Return. Ohio tax form 1040ez If you are not allowed to make the correction on an amended return, you can change your accounting method to claim the correct amount of depreciation. Ohio tax form 1040ez See Claiming the correct amount of depreciation in chapter 2 of Publication 527 for more information. Ohio tax form 1040ez Changing your accounting method to deduct unclaimed depreciation. Ohio tax form 1040ez   To change your accounting method, you generally must file Form 3115, Application for Change in Accounting Method, to get the consent of the IRS. Ohio tax form 1040ez In some instances, that consent is automatic. Ohio tax form 1040ez For more information, see chapter 1 of Publication 946. Ohio tax form 1040ez Land. Ohio tax form 1040ez   You cannot depreciate the cost of land because land generally does not wear out, become obsolete, or get used up. Ohio tax form 1040ez The costs of clearing, grading, planting, and landscaping are usually all part of the cost of land and cannot be depreciated. Ohio tax form 1040ez More information. Ohio tax form 1040ez   See Publication 527 for more information about depreciating rental property and see Publication 946 for more information about depreciation. Ohio tax form 1040ez 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. Ohio tax form 1040ez You must consider these rules in the order shown below. Ohio tax form 1040ez At-risk rules. Ohio tax form 1040ez These rules are applied first if there is investment in your rental real estate activity for which you are not at risk. Ohio tax form 1040ez This applies only if the real property was placed in service after 1986. Ohio tax form 1040ez Passive activity limits. Ohio tax form 1040ez 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. Ohio tax form 1040ez However, there are exceptions. Ohio tax form 1040ez 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. Ohio tax form 1040ez Losses from holding real property (other than mineral property) placed in service before 1987 are not subject to the at-risk rules. Ohio tax form 1040ez 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. Ohio tax form 1040ez 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. Ohio tax form 1040ez See Publication 925 for more information. Ohio tax form 1040ez Passive Activity Limits In most cases, all rental real estate activities (except those of certain real estate professionals, discussed later) are passive activities. Ohio tax form 1040ez 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. Ohio tax form 1040ez Limits on passive activity deductions and credits. Ohio tax form 1040ez    Deductions or losses from passive activities are limited. Ohio tax form 1040ez You generally cannot offset income, other than passive income, with losses from passive activities. Ohio tax form 1040ez Nor can you offset taxes on income, other than passive income, with credits resulting from passive activities. Ohio tax form 1040ez Any excess loss or credit is carried forward to the next tax year. Ohio tax form 1040ez   For a detailed discussion of these rules, see Publication 925. Ohio tax form 1040ez    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. Ohio tax form 1040ez Real estate professionals. Ohio tax form 1040ez   Rental activities in which you materially participated during the year are not passive activities if, for that year, you were a real estate professional. Ohio tax form 1040ez For a detailed discussion of the requirements, see Publication 527. Ohio tax form 1040ez For a detailed discussion of material participation, see Publication 925. Ohio tax form 1040ez 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. Ohio tax form 1040ez Instead, follow the rules explained in Personal Use of Dwelling Unit (Including Vacation Home), earlier. Ohio tax form 1040ez Exception for Rental Real Estate Activities 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. Ohio tax form 1040ez This special allowance is an exception to the general rule disallowing losses in excess of income from passive activities. Ohio tax form 1040ez 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. Ohio tax form 1040ez Active participation. Ohio tax form 1040ez   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. Ohio tax form 1040ez Management decisions that may count as active participation include approving new tenants, deciding on rental terms, approving expenditures, and similar decisions. Ohio tax form 1040ez Maximum special allowance. Ohio tax form 1040ez   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. Ohio tax form 1040ez   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. Ohio tax form 1040ez 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. Ohio tax form 1040ez   Generally, if your MAGI is $150,000 or more ($75,000 or more if you are married filing separately), there is no special allowance. Ohio tax form 1040ez More information. Ohio tax form 1040ez   See Publication 925 for more information on the passive loss limits, including information on the treatment of unused disallowed passive losses and credits and the treatment of gains and losses realized on the disposition of a passive activity. Ohio tax form 1040ez How To Report Rental Income and Expenses The basic form for reporting residential rental income and expenses is Schedule E (Form 1040). Ohio tax form 1040ez However, do not use that schedule to report a not-for-profit activity. Ohio tax form 1040ez See Not Rented for Profit, earlier. Ohio tax form 1040ez Providing substantial services. Ohio tax form 1040ez   If you provide substantial services that are primarily for your tenant's convenience, such as regular cleaning, changing linen, or maid service, 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 (Sole Proprietorship). Ohio tax form 1040ez Substantial services do not include the furnishing of heat and light, cleaning of public areas, trash collection, etc. Ohio tax form 1040ez For information, see Publication 334, Tax Guide for Small Business. Ohio tax form 1040ez You also may have to pay self-employment tax on your rental income using Schedule SE (Form 1040), Self-Employment Tax. Ohio tax form 1040ez   Use Form 1065, U. Ohio tax form 1040ez S. Ohio tax form 1040ez Return of Partnership Income, if your rental activity is a partnership (including a partnership with your spouse unless it is a qualified joint venture). Ohio tax form 1040ez Qualified joint venture. Ohio tax form 1040ez   If you and your spouse each materially participate 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. Ohio tax form 1040ez 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. Ohio tax form 1040ez For more information, see Publication 527. Ohio tax form 1040ez Form 1098, Mortgage Interest Statement. Ohio tax form 1040ez    If you paid $600 or more of mortgage interest on your rental property to any one person, you should receive a Form 1098, or similar statement showing the interest you paid for the year. Ohio tax form 1040ez If you and at least one other person (other than your spouse if you file a joint return) were liable for, and paid interest on the mortgage, and the other person received the Form 1098, report your share of the interest on Schedule E (Form 1040), line 13. Ohio tax form 1040ez Attach a statement to your return showing the name and address of the other person. Ohio tax form 1040ez In the left margin of Schedule E, next to line 13, enter “See attached. Ohio tax form 1040ez ” Schedule E (Form 1040) If you rent buildings, rooms, or apartments, and provide basic services such as heat and light, trash collection, etc. Ohio tax form 1040ez , you normally report your rental income and expenses on Schedule E, Part I. Ohio tax form 1040ez List your total income, expenses, and depreciation for each rental property. Ohio tax form 1040ez Be sure to enter the number of fair rental and personal use days on line 2. Ohio tax form 1040ez If you have more than three rental or royalty properties, complete and attach as many Schedules E as are needed to list the properties. Ohio tax form 1040ez Complete lines 1 and 2 for each property. Ohio tax form 1040ez However, fill in lines 23a through 26 on only one Schedule E. Ohio tax form 1040ez On Schedule E, page 1, line 18, enter the depreciation you are claiming for each property. Ohio tax form 1040ez To find out if you need to attach Form 4562, see Form 4562, in chapter 3 of Publication 527. Ohio tax form 1040ez If you have a loss from your rental real estate activity, you also may need to complete one or both of the following forms. Ohio tax form 1040ez Form 6198, At-Risk Limitations. Ohio tax form 1040ez See At-Risk Rules , earlier. Ohio tax form 1040ez Also see Publication 925. Ohio tax form 1040ez Form 8582, Passive Activity Loss Limitations. Ohio tax form 1040ez See Passive Activity Limits , earlier. Ohio tax form 1040ez Page 2 of Schedule E is used to report income or loss from partnerships, S corporations, estates, trusts, and real estate mortgage investment conduits. Ohio tax form 1040ez 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. Ohio tax form 1040ez Also, include the amount from line 26 (Part I) in the “Total income or (loss)” on line 41 (Part V). Ohio tax form 1040ez Worksheet 9-1. Ohio tax form 1040ez 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. Ohio tax form 1040ez Did you use the dwelling unit as a home this year? (See Dwelling Unit Used as a Home . Ohio tax form 1040ez ) 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. Ohio tax form 1040ez Rental Use Percentage A. Ohio tax form 1040ez Total days available for rent at fair rental price A. Ohio tax form 1040ez       B. Ohio tax form 1040ez Total days available for rent (line A) but not rented B. Ohio tax form 1040ez       C. Ohio tax form 1040ez Total days of rental use. Ohio tax form 1040ez Subtract line B from line A C. Ohio tax form 1040ez       D. Ohio tax form 1040ez Total days of personal use (including days rented at less than fair rental price) D. Ohio tax form 1040ez       E. Ohio tax form 1040ez Total days of rental and personal use. Ohio tax form 1040ez Add lines C and D E. Ohio tax form 1040ez       F. Ohio tax form 1040ez Percentage of expenses allowed for rental. Ohio tax form 1040ez Divide line C by line E     F. Ohio tax form 1040ez   PART II. Ohio tax form 1040ez Allowable Rental Expenses 1. Ohio tax form 1040ez Enter rents received 1. Ohio tax form 1040ez   2a. Ohio tax form 1040ez Enter the rental portion of deductible home mortgage interest and qualified mortgage insurance premiums (see instructions) 2a. Ohio tax form 1040ez       b. Ohio tax form 1040ez Enter the rental portion of real estate taxes b. Ohio tax form 1040ez       c. Ohio tax form 1040ez Enter the rental portion of deductible casualty and theft losses (see instructions) c. Ohio tax form 1040ez       d. Ohio tax form 1040ez Enter direct rental expenses (see instructions) d. Ohio tax form 1040ez       e. Ohio tax form 1040ez Fully deductible rental expenses. Ohio tax form 1040ez Add lines 2a–2d. Ohio tax form 1040ez Enter here and  on the appropriate lines on Schedule E (see instructions) 2e. Ohio tax form 1040ez   3. Ohio tax form 1040ez Subtract line 2e from line 1. Ohio tax form 1040ez If zero or less, enter -0- 3. Ohio tax form 1040ez   4a. Ohio tax form 1040ez Enter the rental portion of expenses directly related to operating or maintaining  the dwelling unit (such as repairs, insurance, and utilities) 4a. Ohio tax form 1040ez       b. Ohio tax form 1040ez Enter the rental portion of excess mortgage interest and qualified mortgage insurance premiums (see instructions) b. Ohio tax form 1040ez       c. Ohio tax form 1040ez Carryover of operating expenses from 2012 worksheet c. Ohio tax form 1040ez       d. Ohio tax form 1040ez Add lines 4a–4c d. Ohio tax form 1040ez       e. Ohio tax form 1040ez Allowable expenses. Ohio tax form 1040ez Enter the smaller of line 3 or line 4d (see instructions) 4e. Ohio tax form 1040ez   5. Ohio tax form 1040ez Subtract line 4e from line 3. Ohio tax form 1040ez If zero or less, enter -0- 5. Ohio tax form 1040ez   6a. Ohio tax form 1040ez Enter the rental portion of excess casualty and theft losses (see instructions) 6a. Ohio tax form 1040ez       b. Ohio tax form 1040ez Enter the rental portion of depreciation of the dwelling unit b. Ohio tax form 1040ez       c. Ohio tax form 1040ez Carryover of excess casualty losses and depreciation from 2012 worksheet c. Ohio tax form 1040ez       d. Ohio tax form 1040ez Add lines 6a–6c d. Ohio tax form 1040ez       e. Ohio tax form 1040ez Allowable excess casualty and theft losses and depreciation. Ohio tax form 1040ez Enter the smaller of  line 5 or line 6d (see instructions) 6e. Ohio tax form 1040ez   PART III. Ohio tax form 1040ez Carryover of Unallowed Expenses to Next Year 7a. Ohio tax form 1040ez Operating expenses to be carried over to next year. Ohio tax form 1040ez Subtract line 4e from line 4d 7a. Ohio tax form 1040ez   b. Ohio tax form 1040ez Excess casualty and theft losses and depreciation to be carried over to next year. Ohio tax form 1040ez  Subtract line 6e from line 6d b. Ohio tax form 1040ez   Worksheet 9-1 Instructions. Ohio tax form 1040ez Worksheet for Figuring Rental Deductions for a Dwelling Unit Used as a Home Caution. Ohio tax form 1040ez 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. Ohio tax form 1040ez Line 2a. Ohio tax form 1040ez Figure the mortgage interest on the dwelling unit that you could deduct on Schedule A as if you had not rented the unit. Ohio tax form 1040ez Do not include interest on a loan that did not benefit the dwelling unit. Ohio tax form 1040ez 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. Ohio tax form 1040ez Include interest on a loan used to buy, build, or improve the dwelling unit, or to refinance such a loan. Ohio tax form 1040ez Include the rental portion of this interest in the total you enter on line 2a of the worksheet. Ohio tax form 1040ez   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. Ohio tax form 1040ez See the Schedule A instructions. Ohio tax form 1040ez However, figure your adjusted gross income (Form 1040, line 38) without your rental income and expenses from the dwelling unit. Ohio tax form 1040ez See Line 4b to deduct the part of the qualified mortgage insurance premiums not allowed because of the adjusted gross income limit. Ohio tax form 1040ez Include the rental portion of the amount from Schedule A, line 13, in the total you enter on line 2a of the worksheet. Ohio tax form 1040ez   Note. Ohio tax form 1040ez Do not file this Schedule A or use it to figure the amount to deduct on line 13 of that schedule. Ohio tax form 1040ez Instead, figure the personal portion on a separate Schedule A. Ohio tax form 1040ez 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. Ohio tax form 1040ez           Line 2c. Ohio tax form 1040ez 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. Ohio tax form 1040ez To do this, complete Section A of Form 4684, Casualties and Thefts, treating the losses as personal losses. Ohio tax form 1040ez If any of the loss is due to a federally declared disaster, see the Instructions for Form 4684. Ohio tax form 1040ez On Form 4684, line 17, enter 10% of your adjusted gross income figured without your rental income and expenses from the dwelling unit. Ohio tax form 1040ez Enter the rental portion of the result from Form 4684, line 18, on line 2c of this worksheet. Ohio tax form 1040ez   Note. Ohio tax form 1040ez Do not file this Form 4684 or use it to figure your personal losses on Schedule A. Ohio tax form 1040ez Instead, figure the personal portion on a separate Form 4684. Ohio tax form 1040ez           Line 2d. Ohio tax form 1040ez Enter the total of your rental expenses that are directly related only to the rental activity. Ohio tax form 1040ez These include interest on loans used for rental activities other than to buy, build, or improve the dwelling unit. Ohio tax form 1040ez Also include rental agency fees, advertising, office supplies, and depreciation on office equipment used in your rental activity. Ohio tax form 1040ez           Line 2e. Ohio tax form 1040ez 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. Ohio tax form 1040ez Enter the amounts on lines 2a, 2b, 2c, and 2d on the appropriate lines of Schedule E. Ohio tax form 1040ez           Line 4b. Ohio tax form 1040ez On line 2a, you entered the rental portion of the mortgage interest and qualified mortgage insurance premiums you could deduct on Schedule A if you had not rented the dwelling unit. Ohio tax form 1040ez 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. Ohio tax form 1040ez Do not include interest on a loan that did not benefit the dwelling unit (as explained in the line 2a instructions). Ohio tax form 1040ez           Line 4e. Ohio tax form 1040ez 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. Ohio tax form 1040ez *           Line 6a. Ohio tax form 1040ez To find the rental portion of excess casualty and theft losses, use the Form 4684 you prepared for line 2c of this worksheet. Ohio tax form 1040ez   A. Ohio tax form 1040ez Enter the amount from Form 4684, line 10       B. Ohio tax form 1040ez Enter the rental portion of line A       C. Ohio tax form 1040ez Enter the amount from line 2c of this worksheet       D. Ohio tax form 1040ez Subtract line C from line B. Ohio tax form 1040ez Enter the result here and on line 6a of this worksheet               Line 6e. Ohio tax form 1040ez 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. Ohio tax form 1040ez * *Allocating the limited deduction. Ohio tax form 1040ez 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. Ohio tax form 1040ez Enter the amount you allocate to each expense on the appropriate line of Schedule E, Part I. Ohio tax form 1040ez Prev  Up  Next   Home   More Online Publications
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This federal law, which dates back to 1972, was intended to protect consumers in their homes during door-to-door sales pitches or at sales in temporary business locations. According to the FTC, the 3-Day Cooling Off Rule does NOT apply to the purchase of new automobiles or items sold online. It only applies when a company is selling something that costs $25 or more at a location other than its regular place of business.

To comply with the 3-Day Cooling Off Rule, a seller must inform a buyer of his/her right to cancel the sale and receive a full refund within three business days.

Be aware that there are situations in which the Cooling-Off Rule does not apply:

  • You made the purchase entirely by mail or telephone.
  • The sale was the result of prior contact you had at the seller's permanent business location.
  • You signed a document waiving your right to cancel.
  • Your purchase is not primarily for personal, family or household use. .
  • You were buying real estate, insurance, securities, or a motor vehicle.
  • You can't return the item in a condition similar to how it was when you got it.
  • You bought arts or crafts at a fair, shopping mall, civic center, or school.

Remember, if you paid by credit card and are having difficulty getting your refund, you may also be able to dispute the charge with your credit card company under the Fair Credit Billing Act.

The Ohio Tax Form 1040ez

Ohio tax form 1040ez 4. Ohio tax form 1040ez   Deductions Table of Contents Standard DeductionStandard Deduction for Dependents Itemized DeductionsMedical and Dental Expenses Most taxpayers have a choice of taking a standard deduction or itemizing their deductions. Ohio tax form 1040ez You benefit from the standard deduction if your standard deduction is more than the total of your allowable itemized deductions. Ohio tax form 1040ez If you have a choice, you should use the method that gives you the lower tax. Ohio tax form 1040ez Standard Deduction The standard deduction amount depends on your filing status, whether you are 65 or older or blind, and whether an exemption can be claimed for you by another taxpayer. Ohio tax form 1040ez Generally, the standard deduction amounts are adjusted each year for inflation. Ohio tax form 1040ez In most cases, you can use Worksheet 4-1 to figure your standard deduction amount. Ohio tax form 1040ez Persons not eligible for the standard deduction. Ohio tax form 1040ez   Your standard deduction is zero and you should itemize any deductions you have if: You are married and filing a separate return, and your spouse itemizes deductions, You are filing a tax return for a short tax year because of a change in your annual accounting period, or You are a nonresident or dual-status alien during the year. Ohio tax form 1040ez You are considered a dual-status alien if you were both a nonresident alien and a resident alien during the year. Ohio tax form 1040ez   If you are a nonresident alien who is married to a U. Ohio tax form 1040ez S. Ohio tax form 1040ez citizen or resident alien at the end of the year, you can choose to be treated as a U. Ohio tax form 1040ez S. Ohio tax form 1040ez resident. Ohio tax form 1040ez See Publication 519, U. Ohio tax form 1040ez S. Ohio tax form 1040ez Tax Guide for Aliens. Ohio tax form 1040ez If you make this choice, you can take the standard deduction. Ohio tax form 1040ez Decedent's final return. Ohio tax form 1040ez   The amount of the standard deduction for a decedent's final tax return is the same as it would have been had the decedent continued to live. Ohio tax form 1040ez However, if the decedent was not 65 or older at the time of death, the higher standard deduction for age cannot be claimed. Ohio tax form 1040ez Higher standard deduction for age (65 or older). Ohio tax form 1040ez   If you do not itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year. Ohio tax form 1040ez You are considered age 65 on the day before your 65th birthday. Ohio tax form 1040ez Therefore, you can take a higher standard deduction for 2013 if you were born before January 2, 1949. Ohio tax form 1040ez Higher standard deduction for blindness. Ohio tax form 1040ez   If you are blind on the last day of the year and you do not itemize deductions, you are entitled to a higher standard deduction. Ohio tax form 1040ez You qualify for this benefit if you are totally or partly blind. Ohio tax form 1040ez Not totally blind. Ohio tax form 1040ez   If you are not totally blind, you must get a certified statement from an eye doctor (ophthalmologist or optometrist) that: You cannot see better than 20/200 in the better eye with glasses or contact lenses, or Your field of vision is not more than 20 degrees. Ohio tax form 1040ez   If your eye condition will never improve beyond these limits, the statement should include this fact. Ohio tax form 1040ez You must keep the statement in your records. Ohio tax form 1040ez   If your vision can be corrected beyond these limits only by contact lenses that you can wear only briefly because of pain, infection, or ulcers, you can take the higher standard deduction for blindness if you otherwise qualify. Ohio tax form 1040ez Spouse 65 or older or blind. Ohio tax form 1040ez   You can take the higher standard deduction if your spouse is age 65 or older or blind and: You file a joint return, or You file a separate return and can claim an exemption for your spouse because your spouse had no gross income and an exemption for your spouse could not be claimed by another taxpayer. Ohio tax form 1040ez    You cannot claim the higher standard deduction for an individual other than yourself and your spouse. Ohio tax form 1040ez Example. Ohio tax form 1040ez This example illustrates how to determine your standard deduction using Worksheet 4-1. Ohio tax form 1040ez Bill and Lisa are filing a joint return for 2013. Ohio tax form 1040ez Both are over age 65. Ohio tax form 1040ez Neither is blind, and neither can be claimed as a dependent. Ohio tax form 1040ez They do not itemize deductions, so they use Worksheet 4-1. Ohio tax form 1040ez Because they are married filing jointly, they enter $12,200 on line 1. Ohio tax form 1040ez They check the “No” box on line 2, so they also enter $12,200 on line 4. Ohio tax form 1040ez Because they are both over age 65, they enter $2,400 ($1,200 × 2) on line 5. Ohio tax form 1040ez They enter $14,600 ($12,200 + $2,400) on line 6, so their standard deduction is $14,600. Ohio tax form 1040ez Standard Deduction for Dependents The standard deduction for an individual for whom an exemption can be claimed on another person's tax return is generally limited to the greater of: $1,000, or The individual's earned income for the year plus $350 (but not more than the regular standard deduction amount, generally $6,100). Ohio tax form 1040ez However, the standard deduction may be higher if the individual is 65 or older or blind. Ohio tax form 1040ez If an exemption for you (or your spouse if you are filing jointly) can be claimed on someone else's return, use Worksheet 4-1, if applicable, to determine your standard deduction. Ohio tax form 1040ez Worksheet 4-1. Ohio tax form 1040ez 2013 Standard Deduction Worksheet Caution. Ohio tax form 1040ez If you are married filing separately and your spouse itemizes deductions, or if you are a dual-status alien, do not complete this worksheet. Ohio tax form 1040ez If you were born before January 2, 1949, and/or blind, check the correct number of boxes below. Ohio tax form 1040ez Put the total number of boxes checked in box c and go to line 1. Ohio tax form 1040ez a. Ohio tax form 1040ez You   Born before  January 2, 1949     Blind b. Ohio tax form 1040ez Your spouse, if claiming  spouse's exemption   Born before January 2, 1949     Blind c. Ohio tax form 1040ez Total boxes checked             1. Ohio tax form 1040ez Enter the amount shown below for your filing status. Ohio tax form 1040ez               Single or married filing separately — $6,100 Married filing jointly or Qualifying widow(er) — $12,200 Head of household — $8,950   1. Ohio tax form 1040ez           2. Ohio tax form 1040ez Can you (or your spouse if filing jointly) be claimed as a dependent on someone else's return?  No. Ohio tax form 1040ez Skip line 3; enter the amount from line 1 on line 4. Ohio tax form 1040ez   Yes. Ohio tax form 1040ez Go to line 3. Ohio tax form 1040ez         3. Ohio tax form 1040ez Is your earned income* more than $650?               Yes. Ohio tax form 1040ez Add $350 to your earned income. Ohio tax form 1040ez Enter the total   3. Ohio tax form 1040ez         No. Ohio tax form 1040ez Enter $1,000 4. Ohio tax form 1040ez Enter the smaller of line 1 or line 3 4. Ohio tax form 1040ez   5. Ohio tax form 1040ez If born before January 2, 1949, or blind, multiply the number in box c by $1,200 ($1,500 if single or head of household). Ohio tax form 1040ez Enter the result here. Ohio tax form 1040ez Otherwise, enter -0- 5. Ohio tax form 1040ez   6. Ohio tax form 1040ez Add lines 4 and 5. Ohio tax form 1040ez This is your standard deduction for 2013. Ohio tax form 1040ez 6. Ohio tax form 1040ez   * Earned income includes wages, salaries, tips, professional fees, and other compensation received for personal services you performed. Ohio tax form 1040ez It also includes any amount received as a scholarship that you must include in your income. Ohio tax form 1040ez Generally, your earned income is the total of the amount(s) you reported on Form 1040, lines 7, 12, and 18, minus the amount, if any, on line 27 (or the amount you reported on Form 1040A, line 7). Ohio tax form 1040ez Itemized Deductions Some individuals should itemize their deductions because it will save them money. Ohio tax form 1040ez Others should itemize because they do not qualify for the standard deduction. Ohio tax form 1040ez See the discussion under Standard Deduction , earlier, to decide if it would be to your advantage to itemize deductions. Ohio tax form 1040ez You may be subject to a limit on some of your itemized deductions if your adjusted gross income is more than $150,000. Ohio tax form 1040ez For more information, see Overall limitation, later. Ohio tax form 1040ez Medical and dental expenses, some taxes, certain interest expenses, charitable contributions, casualty and theft losses, and certain other miscellaneous expenses may be itemized as deductions on Schedule A (Form 1040). Ohio tax form 1040ez You may benefit from itemizing your deductions on Schedule A (Form 1040) if you: Cannot take the standard deduction, Had uninsured medical or dental expenses that are more than 10% of your adjusted gross income (or more than 7. Ohio tax form 1040ez 5% of your adjusted gross income if either you or your spouse is age 65 or older), Paid interest on your home, Paid real estate or personal property taxes, Paid mortgage insurance premiums, Paid state and local income or general sales taxes, Had large unreimbursed employee business expenses or other miscellaneous deductions, Had large uninsured casualty or theft losses, Made large contributions to qualified charities (see Publication 526, Charitable Contributions), or Have total itemized deductions that are more than the standard deduction that applies to you. Ohio tax form 1040ez See the Schedule A (Form 1040) instructions for more information. Ohio tax form 1040ez Overall limitation. Ohio tax form 1040ez   You may not be able to deduct all of your itemized deductions if your adjusted gross income is more than: $150,000, if married filing separately, $250,000, if single, $275,000, if head of household, or $300,000, if married filing jointly or qualifying widow(er). Ohio tax form 1040ez  If your adjusted gross income exceeds the applicable amount, you will use the Itemized Deductions Worksheet in the Instructions for Schedule A (Form 1040) to figure your total itemized deductions. Ohio tax form 1040ez Medical and Dental Expenses You can deduct certain medical and dental expenses you paid for yourself, your spouse, and your dependent(s) if you itemize your deductions on Schedule A (Form 1040). Ohio tax form 1040ez Table 4-1 shows some common items that you can or cannot include in figuring your medical expense deduction. Ohio tax form 1040ez For more information, see the following discussions of selected items, which are presented in alphabetical order. Ohio tax form 1040ez A more extensive list of items and further details can be found in Publication 502, Medical and Dental Expenses. Ohio tax form 1040ez Table 4-1. Ohio tax form 1040ez Medical and Dental Expenses Checklist You can include: You cannot include: Bandages Capital expenses for equipment or improvements to your home needed for medical care (see Publication 502) Certain weight-loss expenses for obesity Diagnostic devices Expenses of an organ donor Eye surgery—to promote the correct function of the eye Guide dogs or other animals aiding the blind, deaf, and disabled Hospital services fees (lab work, therapy, nursing services, surgery, etc. Ohio tax form 1040ez ) Lead-based paint removal (see Publication 502) Long-term care contracts, qualified (see Publication 502) Meals and lodging provided by a hospital during medical treatment Medical and hospital insurance premiums Medical services fees (from doctors, dentists, surgeons, specialists, and other medical practitioners) Medicare Part D premiums Oxygen equipment and oxygen Part of life-care fee paid to retirement home designated for medical care Prescription medicines (prescribed by a doctor) and insulin Psychiatric and psychological treatment Social security tax, Medicare tax, FUTA, and state employment tax for worker providing medical care (see Publication 502) Special items (artificial limbs, false teeth, eyeglasses, contact lenses, hearing aids, crutches, wheelchair, etc. Ohio tax form 1040ez ) Special education for mentally or physically disabled persons (see Publication 502) Stop-smoking programs Transportation for needed medical care Treatment at a drug or alcohol center (includes meals and lodging provided by the center) Wages for nursing services (see Publication 502) Contributions to Archer MSAs (see Publication 969) Bottled water Diaper service Expenses for your general health (even if following your doctor's advice) such as: —Health club dues —Household help (even if recommended by a doctor) —Social activities, such as dancing or swimming lessons —Trip for general health improvement Flexible spending account reimbursements for medical expenses (if contributions were on a pretax basis) (see Publication 502) Funeral, burial, or cremation expenses Health savings account payments for medical expenses (see Publication 502) Illegal operation or treatment Life insurance or income protection policies, or policies providing payment for loss of life, limb, sight, etc. Ohio tax form 1040ez Medical insurance included in a car insurance policy covering all persons injured in or by your car Medicine you buy without a prescription Nursing care for a healthy baby Prescription drugs you brought in (or ordered shipped) from another country, in most cases (see Publication 502) Surgery for purely cosmetic reasons (see Publication 502) Toothpaste, toiletries, cosmetics, etc. Ohio tax form 1040ez Teeth whitening Weight-loss expenses not for the treatment of obesity or other disease You can deduct only the amount of your medical and dental expenses that is more than 10% of your adjusted gross income (or that is more than 7. Ohio tax form 1040ez 5% of your adjusted gross income if you or your spouse is age 65 or older). Ohio tax form 1040ez What to include. Ohio tax form 1040ez   Generally, you can include only the medical and dental expenses you paid this year, regardless of when the services were provided. Ohio tax form 1040ez If you pay medical expenses by check, the day you mail or deliver the check generally is the date of payment. Ohio tax form 1040ez If you use a pay-by-phone or online account to pay your medical expenses, the date reported on the statement of the financial institution showing when payment was made is the date of payment. Ohio tax form 1040ez You can include medical expenses you charge to your credit card in the year the charge is made. Ohio tax form 1040ez It does not matter when you actually pay the amount charged. Ohio tax form 1040ez Home Improvements You can include in medical expenses amounts you pay for home improvements if their main purpose is medical care for you, your spouse, or your dependent. Ohio tax form 1040ez Only reasonable costs to accommodate a home to your disabled condition (or that of your spouse or your dependent(s) who live with you) are considered medical care. Ohio tax form 1040ez Additional costs for personal motives, such as for architectural or aesthetic reasons, are not medical expenses. Ohio tax form 1040ez Publication 502 contains additional information and examples, including a capital expense worksheet, to assist you in figuring the amount of the capital expense that you can include in your medical expenses. Ohio tax form 1040ez Also, see Publication 502 for information about deductible operating and upkeep expenses related to such capital expense items, and for information about improvements, for medical reasons, to property rented by a person with disabilities. Ohio tax form 1040ez Household Help You cannot include in medical expenses the cost of household help, even if such help is recommended by a doctor. Ohio tax form 1040ez This is a personal expense that is not deductible. Ohio tax form 1040ez However, you may be able to include certain expenses paid to a person providing nursing-type services. Ohio tax form 1040ez For more information, see Nursing Services , later. Ohio tax form 1040ez Also, certain maintenance or personal care services provided for qualified long-term care can be included in medical expenses. Ohio tax form 1040ez For more information, see Qualified long-term care services under Long-Term Care, later. Ohio tax form 1040ez Hospital Services You can include in medical expenses amounts you pay for the cost of inpatient care at a hospital or similar institution if a principal reason for being there is to receive medical care. Ohio tax form 1040ez This includes amounts paid for meals and lodging. Ohio tax form 1040ez Also, see Meals and Lodging , later. Ohio tax form 1040ez Long-Term Care You can include in medical expenses amounts paid for qualified long-term care services and premiums paid for qualified long-term care insurance contracts. Ohio tax form 1040ez Qualified long-term care services. Ohio tax form 1040ez   Qualified long-term care services are necessary diagnostic, preventive, therapeutic, curing, treating, mitigating, rehabilitative services, and maintenance and personal care services (defined later) that are: Required by a chronically ill individual, and Provided under a plan of care prescribed by a licensed health care practitioner. Ohio tax form 1040ez Chronically ill individual. Ohio tax form 1040ez    An individual is chronically ill if, within the previous 12 months, a licensed health care practitioner has certified that the individual meets either of the following descriptions. Ohio tax form 1040ez He or she is unable to perform at least two activities of daily living without substantial assistance from another individual for at least 90 days, due to a loss of functional capacity. Ohio tax form 1040ez Activities of daily living are eating, toileting, transferring, bathing, dressing, and continence. Ohio tax form 1040ez He or she requires substantial supervision to be protected from threats to health and safety due to severe cognitive impairment. Ohio tax form 1040ez Maintenance and personal care services. Ohio tax form 1040ez    Maintenance or personal care services is care which has as its primary purpose the providing of a chronically ill individual with needed assistance with his or her disabilities (including protection from threats to health and safety due to severe cognitive impairment). Ohio tax form 1040ez Qualified long-term care insurance contracts. Ohio tax form 1040ez   A qualified long-term care insurance contract is an insurance contract that provides only coverage of qualified long-term care services. Ohio tax form 1040ez The contract must: Be guaranteed renewable, Not provide for a cash surrender value or other money that can be paid, assigned, pledged, or borrowed, Provide that refunds, other than refunds on the death of the insured or complete surrender or cancellation of the contract, and dividends under the contract must be used only to reduce future premiums or increase future benefits, and Generally not pay or reimburse expenses incurred for services or items that would be reimbursed under Medicare, except where Medicare is a secondary payer, or the contract makes per diem or other periodic payments without regard to expenses. Ohio tax form 1040ez   The amount of qualified long-term care premiums you can include is limited. Ohio tax form 1040ez You can include the following as medical expenses on Schedule A (Form 1040). Ohio tax form 1040ez Qualified long-term care premiums up to the following amounts. Ohio tax form 1040ez Age 40 or under – $360. Ohio tax form 1040ez Age 41 to 50 – $680. Ohio tax form 1040ez Age 51 to 60 – $1,360. Ohio tax form 1040ez Age 61 to 70 – $3,640. Ohio tax form 1040ez Age 71 or over – $4,550. Ohio tax form 1040ez Unreimbursed expenses for qualified long-term care services. Ohio tax form 1040ez Note. Ohio tax form 1040ez The limit on premiums is for each person. Ohio tax form 1040ez Meals and Lodging You can include in medical expenses the cost of meals and lodging at a hospital or similar institution if your main reason for being there is to receive medical care. Ohio tax form 1040ez You may be able to include in medical expenses the cost of lodging (but not meals) not provided in a hospital or similar institution. Ohio tax form 1040ez You can include the cost of such lodging while away from home if all of the following requirements are met. Ohio tax form 1040ez The lodging is primarily for, and essential to, medical care. Ohio tax form 1040ez The medical care is provided by a doctor in a licensed hospital or in a medical care facility related to, or the equivalent of, a licensed hospital. Ohio tax form 1040ez The lodging is not lavish or extravagant under the circumstances. Ohio tax form 1040ez There is no significant element of personal pleasure, recreation, or vacation in the travel away from home. Ohio tax form 1040ez The amount you include in medical expenses for lodging cannot be more than $50 per night for each person. Ohio tax form 1040ez You can include lodging for a person traveling with the person receiving the medical care. Ohio tax form 1040ez For example, if a parent is traveling with a sick child, up to $100 per night can be included as a medical expense for lodging. Ohio tax form 1040ez (Meals are not included. Ohio tax form 1040ez ) Nursing home. Ohio tax form 1040ez   You can include in medical expenses the cost of medical care in a nursing home or a home for the aged for yourself, your spouse, or your dependent(s). Ohio tax form 1040ez This includes the cost of meals and lodging in the home if a main reason for being there is to get medical care. Ohio tax form 1040ez   Do not include the cost of meals and lodging if the reason for being in the home is personal. Ohio tax form 1040ez However, you can include in medical expenses the part of the cost that is for medical or nursing care. Ohio tax form 1040ez Medical Insurance Premiums You can include in medical expenses insurance premiums you pay for policies that cover medical care. Ohio tax form 1040ez Policies can provide payment for: Hospitalization, surgical fees, X-rays, Prescription drugs and insulin, Dental care, Replacement of lost or damaged contact lenses, and Qualified long-term care insurance contracts (subject to the additional limits included in the discussion on qualified long-term care insurance contracts under Long-Term Care , earlier). Ohio tax form 1040ez If you have a policy that provides payments for other than medical care, you can include the premiums for the medical care part of the policy if the charge for the medical part is reasonable. Ohio tax form 1040ez The cost of the medical portion must be separately stated in the insurance contract or given to you in a separate statement. Ohio tax form 1040ez Medicare Part A. Ohio tax form 1040ez   If you are covered under social security (or if you are a government employee who paid Medicare tax), you are enrolled in Medicare Part A. Ohio tax form 1040ez The payroll tax paid for Medicare Part A is not a medical expense. Ohio tax form 1040ez If you are not covered under social security (or were not a government employee who paid Medicare tax), you can enroll voluntarily in Medicare Part A. Ohio tax form 1040ez In this situation you can include the premiums you paid for Medicare Part A as a medical expense. Ohio tax form 1040ez Medicare Part B. Ohio tax form 1040ez   Medicare Part B is a supplemental medical insurance. Ohio tax form 1040ez Premiums you pay for Medicare Part B are a medical expense. Ohio tax form 1040ez If you applied for it at age 65 or after you became disabled, you can include in medical expenses the monthly premiums you paid. Ohio tax form 1040ez If you were over age 65 or disabled when you first enrolled, check with your local Social Security Administration office, or go to their website at www. Ohio tax form 1040ez SSA. Ohio tax form 1040ez gov, to find out your premium. Ohio tax form 1040ez Medicare Part D. Ohio tax form 1040ez   Medicare Part D is a voluntary prescription drug insurance program for persons with Medicare Part A or Part B. Ohio tax form 1040ez You can include as a medical expense premiums you pay for Medicare Part D. Ohio tax form 1040ez Prepaid insurance premiums. Ohio tax form 1040ez   Insurance premiums you pay before you are age 65 for medical care for yourself, your spouse, or your dependents after you reach age 65 are medical care expenses in the year paid if they are: Payable in equal yearly installments, or more often, and Payable for at least 10 years, or until you reach age 65 (but not for less than 5 years). Ohio tax form 1040ez Medicines You can include in medical expenses amounts you pay for prescribed medicines and drugs. Ohio tax form 1040ez A prescribed drug is one that requires a prescription by a doctor for its use by an individual. Ohio tax form 1040ez You can also include amounts you pay for insulin. Ohio tax form 1040ez Except for insulin, you cannot include in medical expenses amounts you pay for a drug that is not prescribed. Ohio tax form 1040ez Imported medicines and drugs. Ohio tax form 1040ez   If you import medicines or drugs from other countries, see Medicines and Drugs From Other Countries, under What Expenses Are Not Includible, in Publication 502. Ohio tax form 1040ez Nursing Services You can include in medical expenses wages and other amounts you pay for nursing services. Ohio tax form 1040ez The services need not be performed by a nurse as long as the services are of a kind generally performed by a nurse. Ohio tax form 1040ez This includes services connected with caring for the patient's condition, such as giving medication or changing dressings, as well as bathing and grooming the patient. Ohio tax form 1040ez These services can be provided in your home or another care facility. Ohio tax form 1040ez Generally, only the amount spent for nursing services is a medical expense. Ohio tax form 1040ez If the attendant also provides personal and household services, amounts paid to the attendant must be divided between the time spent performing household and personal services and the time spent for nursing services. Ohio tax form 1040ez However, certain maintenance or personal care services provided for qualified long-term care can be included in medical expenses. Ohio tax form 1040ez See Maintenance and personal care services under Qualified long-term care services, earlier. Ohio tax form 1040ez Additionally, certain expenses for household services or for the care of a qualifying individual incurred to allow you to work may qualify for the child and dependent care credit. Ohio tax form 1040ez See Child and Dependent Care Credit , later, and Publication 503, Child and Dependent Care Expenses. Ohio tax form 1040ez You can also include in medical expenses part of the amount you pay for that attendant's meals. Ohio tax form 1040ez Divide the food expense among the household members to find the cost of the attendant's food. Ohio tax form 1040ez Then divide that cost in the same manner as in the preceding paragraph. Ohio tax form 1040ez If you had to pay additional amounts for household upkeep because of the attendant, you can include the extra amounts with your medical expenses. Ohio tax form 1040ez This includes extra rent or utilities you pay because you moved to a larger apartment to provide space for the attendant. Ohio tax form 1040ez Employment taxes. Ohio tax form 1040ez   You can include as a medical expense social security tax, FUTA, Medicare tax, and state employment taxes you pay for a nurse, attendant, or other person who provides medical care. Ohio tax form 1040ez If the attendant also provides personal and household services, you can include as a medical expense only the amount of employment taxes paid for medical services as explained earlier under Nursing Services. Ohio tax form 1040ez For information on employment tax responsibilities of household employers, see Publication 926, Household Employer's Tax Guide. Ohio tax form 1040ez Transportation You can include in medical expenses amounts paid for transportation primarily for, and essential to, medical care. Ohio tax form 1040ez Car expenses. Ohio tax form 1040ez    You can include out-of-pocket expenses, such as the cost of gas and oil, when you use a car for medical reasons. Ohio tax form 1040ez You cannot include depreciation, insurance, general repair, or maintenance expenses. Ohio tax form 1040ez   If you do not want to use your actual expenses for 2013, you can use the standard medical mileage rate of 24 cents a mile. Ohio tax form 1040ez   You can also include parking fees and tolls. Ohio tax form 1040ez You can add these fees and tolls to your medical expenses whether you use actual expenses or use the standard mileage rate. Ohio tax form 1040ez You can also include:    Bus, taxi, train, or plane fares or ambulance service, and Transportation expenses of a nurse or other person who can give injections, medications, or other treatment required by a patient who is traveling to get medical care and is unable to travel alone. Ohio tax form 1040ez Do not include transportation expenses if, for purely personal reasons, you choose to travel to another city for an operation or other medical care prescribed by your doctor. Ohio tax form 1040ez Prev  Up  Next   Home   More Online Publications