Pub. 527 (2005), Residential Rental Property |
2005 Tax Year |
Index
A
- Accelerated Cost Recovery System (ACRS):, MACRS
-
- (see also Modified Accelerated Cost Recovery System (MACRS))
- Effective date, Depreciation Methods
- Accounting methods:
-
- Accrual method, When to report.
- Cash method, When to report.
- Change of method, Changing your accounting method.
- Constructive receipt of income, When to report.
- Accrual method taxpayers, When to report.
- ACRS (Accelerated Cost Recovery System):
-
- Effective date, Depreciation Methods
- Active participation, Active participation.
- Activities not for profit, Not Rented for Profit
- Additions to property:, Additions or improvements to property.
-
- (see also Improvements)
- Basis, Increases to basis., Additions or improvements.
- MACRS recovery period, Additions or improvements to property.
- Adjusted basis:
-
- MACRS depreciation, Adjusted Basis
- Adjusted gross income (AGI)
-
- Modified (see Modified adjusted gross income (MAGI))
- Advance rent, Advance rent.
- Advance rent:
-
- Security deposits, Security deposits.
- Advertising, Other Expenses
- Allocation of expenses:
-
- Change of property to rental use, Property Changed to Rental Use
- How to divide expenses, How To Divide Expenses
- Part of property rented, Renting Part of Property, How to divide expenses.
- Personal use of rental property, Personal use of rental property., Personal Use of Dwelling Unit (Including Vacation Home)
- Alternative Depreciation System (ADS):
-
- Election of, Election.
- MACRS, MACRS, Table 4-D.
- Alternative minimum tax (AMT):
-
- Accelerated depreciation methods, Alternative minimum tax.
- Amended returns, Filing an amended return.
- Apartments:
-
- Basement apartments, Examples
- Dwelling units, Dwelling unit.
- Appraisal fees, Settlement fees and other costs.
- Assessments for maintenance, Assessments for local improvements.
- Assessments, local (see Local assessments)
- Assistance (see Tax help)
- Assumption of mortgage, Assumption of a mortgage.
- At-risk rules, Limits on Rental Losses
- Attorneys' fees, Settlement fees and other costs., Increases to basis.
- Automobiles:
-
- MACRS recovery periods, Recovery Periods Under GDS
B
- Basis:
-
- Adjusted basis, Adjusted Basis
- Assessments for local improvements, Assessments for local improvements.
- Basis other than cost, Basis Other Than Cost
- Cost basis, Cost Basis
- Decreases to, Decreases to basis.
- Deductions:
-
- Capitalization of costs vs., Deducting vs. capitalizing costs.
- Not greater than basis, No deduction greater than basis.
- Fair market value, Fair market value.
- Increases to, Increases to basis.
- MACRS depreciable basis, Depreciable Basis
- Property changed to rental use, Basis of Property Changed to Rental Use
C
- Capital expenditures:
-
- Deductions vs. effect on basis, Deducting vs. capitalizing costs.
- Improvements, Improvements.
- Local benefit taxes, Local benefit taxes.
- Mortgages, payments to obtain, Expenses paid to obtain a mortgage.
- Cars:
-
- MACRS recovery periods, Recovery Periods Under GDS
- Cash method taxpayers, When to report.
- Casualty losses, Casualties and Thefts
- Change of accounting method, Changing your accounting method.
- Charitable contributions:
-
- Use of property, Donation of use of property.
- Cleaning and maintenance, Other Expenses
- Closing costs, Settlement fees and other costs.
- Comments on publication, Comments and suggestions.
- Commissions, Other Expenses
- Computers:
-
- MACRS recovery periods, Recovery Periods Under GDS
- Condominiums, Condominiums and Cooperatives, Dwelling unit.
- Constructive receipt of income, When to report.
- Cooperative housing, Cooperative, Dwelling unit., Cooperative apartments.
- Cost basis, Cost Basis
- Credit reports, Settlement fees and other costs.
- Credits:
-
- Residential energy credit before 1986, Decreases to basis.
D
- Days of personal use, Dwelling Unit Used as Home, Figuring Days of Personal Use
- Days used for repairs and maintenance, Days Used for Repairs and Maintenance
- Deductions
-
- Depreciation (see Depreciation)
- Passive activity losses (see Passive activity)
- Deductions:, Rental Expenses
-
- (see also Rental expenses)
- Capitalizing costs vs. effect on basis, Deducting vs. capitalizing costs.
- How to figure rental deductions, How To Figure Rental Income and Deductions
- Limitations on, Limit on deductions., Limits on Rental Losses
- Property not used as home, Property Not Used as a Home
- Property used as home, Property Used as a Home
- Depreciation, Depreciation, Election.
-
- Alternative Depreciation System (ADS) (see Modified Accelerated Cost Recovery System (MACRS))
- Basis (see Basis)
- MACRS (see Modified Accelerated Cost Recovery System (MACRS))
- Depreciation:
-
- Change of accounting method, Changing your accounting method.
- Change of property to rental use, Property Changed to Rental Use, Personal home changed to rental use.
- Claiming correct amount of, Claiming the correct amount of depreciation.
- Declining balance method, Depreciation Methods, Declining Balance Method
- Duration of property expected to last more than one year, What Property Can be Depreciated
- Eligible property, What Property Can be Depreciated
- Excepted property, What Property Can be Depreciated
- First-year expensing, Section 179 deduction.
- Methods, Depreciation Methods, MACRS Depreciation Under GDS
- Ownership of property, What Property Can be Depreciated, Property you own.
- Placement in service, Property Changed to Rental Use
- Rental expense, Depreciation.
- Rented property, Rented property.
- Section 179 deduction, Section 179 deduction.
- Straight line method, Depreciation Methods, Straight Line Method
- Useful life, What Property Can be Depreciated, Property having a determinable useful life.
- Vacant rental property, Vacant rental property.
- Discount, bonds and notes issued at (see Original issue discount (OID))
- Dividing of expenses (see Allocation of expenses)
- Dwelling units:
-
- Definition, Dwelling unit.
- Fair rental price, Fair rental price.
- Personal use of, Personal Use of Dwelling Unit (Including Vacation Home), Dwelling Unit Used as Home, Figuring Days of Personal Use
F
- Fair market value (FMV), Fair market value.
- Fair rental price, Fair rental price., How To Divide Expenses
- Fees
-
- Points (see Points)
- Fees:
-
- Loan origination fees, Points., Settlement fees and other costs.
- Settlement fees and other costs, Settlement fees and other costs.
- Tax return preparation fees, Other Expenses, Tax return preparation.
- First-year expensing, Section 179 deduction.
- Form 1040:
-
- Not rented for profit income, Where to report.
- Part of property rented, Renting Part of Property
- Rental income and expenses, How To Report Rental Income and Expenses
- Schedule E, Schedule E (Form 1040)
- Form 1098:
-
- Mortgage interest, Form 1098.
- Form 4684:
-
- Casualties and thefts, How to report.
- Form 4797:
-
- Sales of business property, How to report.
- Form 8582:
-
- Passive activity losses, Limits on passive activity deductions and credits., Form 8582 not required.
- Free tax services, How To Get Tax Help
H
- Help (see Tax help)
- Home
-
- Use as rental property (see Use of home)
- Home:
-
- Main home, Main home.
I
- Improvements, , Improvements.
- Improvements:,
-
- (see also Repairs)
- Assessments for local improvements, Assessments for local improvements.
- Basis, Increases to basis., Additions or improvements.
- Depreciation of rented property, Rented property.
- MACRS recovery period, Additions or improvements to property.
- Indian reservation property, Qualified Indian reservation property.
- Insurance, Other Expenses
- Insurance:
-
- Casualty or theft loss payments, Decreases to basis.
- Change of property to rental use, Property Changed to Rental Use
- Fire insurance premiums, cost basis, Settlement fees and other costs.
- Part of property rented, Renting Part of Property
- Premiums paid in advance, Insurance premiums paid in advance.
- Title insurance, cost basis, Settlement fees and other costs.
- Interest payments:, Interest expense.
-
- (see also Mortgages)
- Loan origination fees, Points.
- Rental expenses, Other Expenses
L
- Land:
-
- Cost basis, Land and buildings.
- Depreciation, Land.
- Leases:
-
- Cancellation payments, Payment for canceling a lease.
- Equipment leasing, Rental of equipment.
- Limits:
-
- Passive activity losses and credits, Exception., Passive Activity Limits
- Rental expense deductions, Limit on deductions.
- Rental losses, Limits on Rental Losses
- Loans:
-
- Assumption fees, Settlement fees and other costs.
- Charges connected with getting or refinancing, cost basis, Settlement fees and other costs.
- Low or no interest, Loans with low or no interest.
- Origination fees, Points.
- Local assessments, Assessments for local improvements.
- Losses (see Gains and losses)
M
- Material participation, Exception for Real Estate Professionals
- Minimal rental use exception, Exception for minimal rental use.
- Missing children, photographs of, Reminder
- Modified Accelerated Cost Recovery System (MACRS), MACRS, Election.
- Modified Accelerated Cost Recovery System (MACRS):
-
- Additions or improvements to property, Additions or improvements to property.
- Adjusted basis, Adjusted Basis
- Alternative Depreciation System (ADS), MACRS, MACRS Depreciation Under ADS
- Basis other than cost, Basis Other Than Cost
- Conventions, Conventions
- Cost basis, Cost Basis
- Declining balance method, Declining Balance Method
- Depreciable basis, Depreciable Basis
- Determination of deduction, MACRS
- Effective date, Depreciation Methods
- Excluded property, Excluded property.
- General Depreciation System (GDS), MACRS, Recovery Periods Under GDS, MACRS Depreciation Under GDS
- Nonresidential rental property, Recovery Periods Under GDS
- Personal home changed to rental use, Personal home changed to rental use.
- Property used in rental activities (Table 3), Table 3. MACRS Recovery Periods for Property Used in Rental Activities
- Recovery periods, Table 3. MACRS Recovery Periods for Property Used in Rental Activities, 5-, 7-, or 15-year property.
- Residential rental property, Recovery Periods Under GDS, Residential rental property.
- Straight line method, Straight Line Method
- Modified adjusted gross income (MAGI), Modified adjusted gross income.
- More information (see Tax help)
- Mortgages, Expenses paid to obtain a mortgage.
- Mortgages:
-
- Assumption of, cost basis, Assumption of a mortgage.
- Change of property to rental use, Property Changed to Rental Use
- End of, OID, Loan or mortgage ends.
- Interest, Interest expense., Property Changed to Rental Use, Renting Part of Property
- Mortgage insurance premiums, Settlement fees and other costs.
- Part of property rented, Renting Part of Property
P
- Part interest:
-
- Expenses, Part interest.
- Income, Part interest.
- Passive activity, Limits on Rental Losses
- Passive activity:
-
- Maximum special allowance, Maximum special allowance
- Personal property:
-
- Rental income from, Property or services.
- Personal use of rental property, Personal Use of Dwelling Unit (Including Vacation Home), Days Used for Repairs and Maintenance
- Personal use of rental property:, Property Changed to Rental Use
-
- (see also Property changed to rental use)
- Placed-in-service date, Placed-in-Service Date
- Points, Other Expenses, Points., Settlement fees and other costs.
- Pre-rental expenses, Pre-rental expenses.
- Principal residence (see Home)
- Profit, property not rented for, Not Rented for Profit
- Property changed to rental use, Property Changed to Rental Use
- Property changed to rental use:
-
- Basis, Basis of Property Changed to Rental Use
- MACRS depreciation, Personal home changed to rental use.
- Property not used as home:
-
- Rental income and deductions, Property Not Used as a Home
- Property used as home (see Use of home)
- Publications (see Tax help)
R
- Real estate professionals, Real estate professional.
- Real estate professionals:
-
- Passive activity rules, exception to, Exception for Real Estate Professionals
- Real estate taxes, Real estate taxes.
- Real property trades or businesses, Real property trades or businesses.
- Recordkeeping requirements:
-
- Travel and transportation expenses, Travel expenses., Local transportation expenses.
- Recovery periods, Recovery Periods Under GDS
- Rent, Settlement fees and other costs.
- Rent:
-
- Advance rent, Advance rent.
- Fair price, Fair rental price.
- Rental expenses, Rental Expenses
- Rental expenses:
-
- Advertising, Other Expenses
- Allocation between rental and personal uses, How To Divide Expenses
- Change of property to rental use, Property Changed to Rental Use
- Cleaning and maintenance, Other Expenses
- Commissions, Other Expenses
- Deductions, how to figure, How To Figure Rental Income and Deductions
- Depreciation, Depreciation.
- Dwelling unit used as home, Dwelling Unit Used as Home
- Equipment rental, Rental of equipment.
- Home, property also used as, Rental of property also used as a home., Property Used as a Home
- Improvements, , Improvements.
- Insurance, Other Expenses, Insurance premiums paid in advance.
- Interest payments, Other Expenses, Interest expense.
- Local transportation expenses, Other Expenses, Local transportation expenses.
- Not used as home, Property Not Used as a Home
- Part of property rented, Renting Part of Property
- Points, Other Expenses, Points.
- Pre-rental expenses, Pre-rental expenses.
- Rental payments, Other Expenses
- Repairs, Repairs and Improvements, Repairs.
- Sale of property, Expenses for rental property sold.
- Tax return preparation fees, Other Expenses, Tax return preparation.
- Taxes, Other Expenses
- Tenant, paid by, Expenses paid by tenant.
- Travel expenses, Other Expenses
- Utilities, Other Expenses
- Vacant rental property, Vacant rental property.
- Rental income
-
- Uncollected rent, Uncollected rent.
- Rental income:
-
- Advance rent, Advance rent.
- Cancellation of lease payments, Payment for canceling a lease.
- Dwelling unit used as home, Dwelling Unit Used as Home
- Figuring, How To Figure Rental Income and Deductions
- Lease with option to buy, Lease with option to buy.
- Minimal rental use exception, Exception for minimal rental use.
- Not rented for profit, Not Rented for Profit
- Not used as home, Property Not Used as a Home
- Part interest, Part interest.
- Property received from tenant, Property or services.
- Reporting, When to report., How To Report Rental Income and Expenses
- Security deposit, Security deposits.
- Services received from tenant, Property or services.
- Used as home, Rental of property also used as a home., Property Used as a Home
- Rental losses (see Gains and losses) (see Passive activity)
- Repairs, Repairs and Improvements, Repairs.
- Repairs:, Repairs and Improvements
-
- (see also Improvements)
- Assessments for maintenance, Assessments for local improvements.
- Personal use of rental property exception for days used for repairs and maintenance, Days Used for Repairs and Maintenance
S
- Sale of property:
-
- Expenses, Expenses for rental property sold.
- Gain or loss, Sale of rental property., How to report.
- Main home, Sale of main home used as rental property.
- Section 179 deductions, Section 179 deduction.
- Security deposits, Security deposits.
- Settlement fees, Settlement fees and other costs.
- Shared equity financing agreements, Shared equity financing agreement.
- Spouse:
-
- Material participation, Participating spouse.
- Standard mileage rates, Local transportation expenses.
- Suggestions for publication, Comments and suggestions.
- Surveys, Settlement fees and other costs.
T
- Tables and figures:
-
- Declining balance depreciation rates, Declining balance rates.
- Improvements, examples of (Table 1),
- MACRS optional tables (Table 4–D), Table 4-D.
- MACRS optional tables (Tables 4–A, 4–B, and 4–C), Tables 4-A, 4-B, and 4-C.
- MACRS recovery periods for rental activity property (Table 3), Table 3. MACRS Recovery Periods for Property Used in Rental Activities
- Tax credits:
-
- Residential energy credit allowed before 1986, effect on basis, Decreases to basis.
- Tax help, How To Get Tax Help
- Tax return preparation fees, Other Expenses, Tax return preparation.
- Taxes:
-
- Deduction of, Other Expenses
- Local benefit taxes, Local benefit taxes.
- Real estate taxes, Real estate taxes.
- Transfer taxes, Settlement fees and other costs.
- Taxpayer Advocate, Contacting your Taxpayer Advocate.
- Theft losses, Theft.
- Title insurance, Settlement fees and other costs.
- Transfer taxes, Settlement fees and other costs.
- Travel and transportation expenses:
-
- Local transportation expenses, Other Expenses, Local transportation expenses.
- Recordkeeping, Travel expenses.
- Rental expenses, Other Expenses
- Standard mileage rate, Local transportation expenses.
- TTY/TDD information, How To Get Tax Help
U
- Uncollected rent
-
- Income, Uncollected rent.
- Use of home:
-
- Before or after renting, Use as Main Home Before or After Renting
- Change to rental use, Property Changed to Rental Use, Personal home changed to rental use.
- Days of personal use, Dwelling Unit Used as Home, Figuring Days of Personal Use
- Fair rental price, Fair rental price.
- Minimal rental use exception, Exception for minimal rental use.
- Passive activity rules exception, Property used as a home.
- Personal use as dwelling unit, Personal Use of Dwelling Unit (Including Vacation Home)
- Rental income and deductions, Property Used as a Home
- Utilities, Other Expenses, Increases to basis.
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