Publication 530 - Introductory Material


Future developments. For the latest information about developments related to Publication 530, such as legislation enacted after it was published, go to

Residential energy credits. You may be able to take a credit if you made energy saving improvements to your home located in the United States in 2014. See Form 5695, Residential Energy Credits, for more information.

Home Affordable Modification Program (HAMP). If you benefit from Pay-for-Performance Success Payments, the payments are not taxable under HAMP.

Hardest Hit Fund and Emergency Homeowners' Loan Programs. If you are a homeowner who received assistance under a State Housing Finance Agency Hardest Hit Fund program or an Emergency Homeowners' Loan Program, you may be able to deduct all of the payments you made on your mortgage during the year. For details, see Hardest Hit Fund and Emergency Homeowners' Loan Programs under What You Can and Cannot Deduct, later.

Mortgage debt forgiveness. You can exclude from gross income any discharges of qualified principal residence indebtedness made after 2006 and before 2015. You must reduce the basis of your principal residence (but not below zero) by the amount you exclude. See Discharges of qualified principal residence indebtedness , later, and Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment), for more information.

Repayment of first-time homebuyer credit. Generally, you must repay any credit you claimed for a home you bought if you disposed of the home or it ceased to be your main home in 2014. If you bought the home in 2008 and you owned and used it as your main home for all of 2014, you generally must continue repaying the credit with your 2014 tax return, but you do not have to attach Form 5405, Repayment of the First-Time Homebuyer Credit. See Form 5405 and its instructions for details and for exceptions to the repayment rule.

Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.


This publication provides tax information for homeowners. Your home may be a house, condominium, cooperative apartment, mobile home, houseboat, or house trailer that contains sleeping space and toilet and cooking facilities.

The following topics are explained.

  • How you treat items such as settlement and closing costs, real estate taxes, sales taxes, home mortgage interest, and repairs.

  • What you can and cannot deduct on your tax return.

  • The tax credit you can claim if you received a mortgage credit certificate when you bought your home.

  • Why you should keep track of adjustments to the basis of your home. (Your home's basis generally is what it cost; adjustments include the cost of any improvements you might make.)

  • What records you should keep as proof of the basis and adjusted basis.

Comments and suggestions.    We welcome your comments about this publication and your suggestions for future editions.

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Internal Revenue Service 
Tax Forms and Publications 
1111 Constitution Ave. NW, IR-6526 
Washington, DC 20224

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Ordering forms and publications.    Visit to download forms and publications. Otherwise, you can go to to order forms or call 1-800-829-3676 to order current and prior-year forms and instructions. Your order should arrive within 10 business days.

Tax questions.    If you have a tax question, check the information available on or call 1-800-829-1040. We cannot answer tax questions sent to the above address.

Useful Items - You may want to see:


  • 523 Selling Your Home

  • 527 Residential Rental Property

  • 547 Casualties, Disasters, and Thefts

  • 551 Basis of Assets

  • 555 Community Property

  • 587 Business Use of Your Home

  • 936 Home Mortgage Interest Deduction

Form (and Instructions)

  • 5405 Repayment of the First-Time Homebuyer Credit

  • 5695 Residential Energy Credits

  • 8396 Mortgage Interest Credit

See How To Get Tax Help , near the end of this publication, for information about getting publications and forms.

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