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4. Interest

Form 1098, Mortgage Interest Statement
Use this form to report mortgage interest of $600 or more received by you during the year in the course of your trade or business from an individual, including a sole proprietor.

Form 3115, Application for Change in Accounting Method
File this form to request a change in either an overall method of accounting or the accounting treatment of any item.

Form 4952, Investment Interest Expense Deduction
Use this form to figure the amount of investment interest expense you can deduct for the current year and the amount you can carry forward to future years.

Form 8582, Passive Activity Loss Limitations
Noncorporate taxpayers use this form to figure the amount of any passive activity loss (PAL) for the current tax year and to report the application of prior year unallowed PALs.

Publication 537, Installment Sales
This publication discusses the general rules that apply to using the installment method and more complex rules when certain conditions exist or certain types of property are sold.

Publication 550, Investment Income and Expenses
This publication provides information on the tax treatment of investment income and expenses, including information for individual shareholders of mutual funds or other regulated investment companies, such as money market funds.

Publication 936, Home Mortgage Interest Deduction
This publication discusses the rules for deducting home mortgage interest.

Schedule A (Form 1040), Itemized Deductions
Use this schedule to figure your itemized deductions. In most cases, your federal income tax will be less if you take the larger of your itemized deductions or your standard deduction.

Schedule E (Form 1040), Supplemental Income and Loss
Use this schedule to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc.
The partnership files a copy of this schedule with the IRS to report your share of the partnership's income, deductions, credits, etc.

Page Last Reviewed or Updated: 08-Aug-2016