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Amazon.com: House of Wax(1953): Video Your Store Video See All 32 Product Categories   Your Account | Cart | Wish List | Help | advanced search | browse genres | top sellers | new & future releases | kids & family | movie showtimes | today's deals | used videos Search Amazon.com VHS Used Videos DVD DVD & VHS Movie Showtimes Web Search This item is not eligible for Amazon Prime, but over a million other items are. Join Amazon Prime today. Already a member? Sign in . VIDEO INFORMATION Explore This Video buying info technical information editorial reviews customer reviews RATE THIS VIDEO I dislike it I love it! 1 2 3 4 5 Edit your ratings Favorite Magazines! Explore our new Magazine Subscriptions store . Visit the DVD Store The Tingler DVD 35 used & new from $2.40 Have one to sell? House of Wax(1953) see larger picture Availability: Usually ships in 1-2 business days 35 used & new from $2.40 Edition: See more product details Customers who bought this video also bought: Diary of a Madman / Movie VHS Haunted Palace (1963) / Movie VHS The Raven VHS The Pit and The Pendulum VHS Pinky VHS Explore Similar Items : 5 in Video , and 20 in DVD Customers who viewed this videoalso viewed: Mystery of the Wax Museum VHS Dr X VHS Explore Similar Items : 2 in Video , and 8 in DVD Product Details Director: Andr De Toth Format: Color, Original recording reissued, NTSC Rated: Studio: Warner Home Video Video Release Date: July 28, 1998 VHS Features: NTSC format ( US and Canada only. This VHS will probably NOT be viewable in other countries. Read more about VHS formats .) Color, Original recording reissued, NTSC From IMDb: Quotes & Trivia ASIN: 0790736055 Other Formats: DVD Average Customer Review: Based on 58 reviews. Write a review . Amazon.com Sales Rank: Today: #767 in Video Yesterday: #1,048 in Video Editorial Reviews Amazon.com House of Wax brought Vincent Price into the horror genre, where he fit as snugly as a scalpel in a mad scientist's hand. A remake of the 1933 film Mystery of the Wax Museum , this entertaining Gothic shocker casts Price as a sculptor of wax figures; his unwilling victims--er, "models"--lend their bodies to his lifelike depictions of Marie Antoinette and Joan of Arc. The film was one of the top 10 moneymakers of its year, thanks in part to the 3-D gimmick, which explains why so many things are aimed at the camera (why else would the paddleball man be there?). Footnote to history: director Andre De Toth was blind in one eye, and thus could not see in three dimensions. --Robert Horton Spotlight Reviews (What's this?) Write an online review and share your thoughts with other customers. 11 of 11 people found the following review helpful: Solid, 50s Gothic Horror Flick , October 11, 2004 Reviewer: Westley (The South)- See all my reviews Horror films in the 1950s were often set in earlier times - including "House of Wax" - a gothic-styled thriller. Vincent Price stars, and this movie was his first of many, many horror films. He's perfect in this role, and it's puzzling why no one had cast him as this type of character before. He plays Prof. Henry Jarrod, a wax figure sculptor who's far too obsessed with his work. He's the head of an unsuccessful wax museum and watches in disgust as other museums make money by showing horror style wax figures, such as mass murderers. When his museum is burned to the ground, he re-emerges and seeks vengeance on persons responsible. The film received a great deal of buzz as the second 3-D film released by a major studio ("Bwana Devil" was the first); not surprisingly, it was a major hit, becoming the 7th biggest money-maker of 1953. "House of Wax" was actually a remake of a 1933 film, "Mystery of the Wax Museum." In addition, a remake of this film is currently in the works, and should be released in 2005. One of the stars of the upcoming film is Paris Hilton, which should be interesting! Although I prefer Castle's horror films from this period, Price alone makes this film worthwhile. Carolyn Jones ("Addams Family") is also fun as a kind harlot. Overall, the movie holds up pretty well, mostly because of its creepy tone. I saw the movie in 2-D but still enjoyed it quite a bit. Was this review helpful to you? ( Report this ) 18 of 19 people found the following review helpful: one of Price's best films , October 8, 2004 Reviewer: Deborah MacGillivray (Scotland, England & US)- See all my reviews This movie has wit, excellent pacing and a strong supporting cast (including a blonde Carolyn Jones "Morticia" from the Addams Family) and a small role for Charles Bronson (playing Igor and billed as Charles Buchinsky). Prince gets to be both understated and hammy in the brilliant film, that he is likely best know for. It catches the atmosphere of the Gaslight period, and is lighting speed, as Price goes from a brilliant artist of life-like wax figures, to a scarred man, nearly killed by his partner wanting the insurance. He is forced to watch his two crowning glories, his Joan of Arc and his Marie Antoinette destroyed in the fire. With scared hands, he is forced to use bodies to fill his new house of wax, while Price also manages to meet out a little revenge to his former partner. At first bodies are vanishing from the morgue, but when Price sees Jones - the living image of Joan of Arc - and Phyllis Kirk, his Marie Antoinette come to life in his mind - he knows he must possess the bodies of both women to see if greatest works recreated. Is so spooky, and Kirk ably screams her way from one mishap to the next. Just does not get any better. --This text refers to the DVD edition Was this review helpful to you? ( Report this ) All Customer Reviews Average Customer Review: Write an online review and share your thoughts with other customers. I'm Melting! Melllting!... , December 29, 2005 Reviewer: Bindy Sue Fr?nk?nschtein "bigfootsalienbaby" (under the rubble)- See all my reviews Poor Henry Jarrod (Vincent Price). He's a wax-sculptor / wax museum owner who just wants to bring a little beauty into the world w/ his life-like, historical figures. Unfortunately, the public doesn't want beauty, it wants wax versions of murderers and sensationalism. Jarrod's partner knows this and decides to torch the museum for the insurance money. When Jarrod resists, he gets torched as well. Years later, a new wax museum opens, run by Henry Jarrod! He didn't die after all. Now, people are being murdered by a mysterious, disfigured man in a black hat and cloak. Their bodies are then stolen from the morgue! Where are they going, and why are Jarrod's new wax figures so eerily familiar looking? HOUSE OF WAX is the first of a long line of horror / revenge movies for Vincent. You can see the same tormented / demented soul here that would later shine in movies like PIT AND THE PENDULUM, THEATRE OF BLOOD, MADHOUSE, THE ABOMINABLE DR. PHIBES, and DR. PHIBES RISES AGAIN. HOUSE OF WAX is an excellent remake of the 1933 film MYSTERY OF THE WAX MUSEUM w/ Lionel Atwill and Fay Wray (both are also in The Vampire Bat and Doctor X). I love both movies! While HOUSE is more gothic, MYSTERY is more '30s pulp. They each have their own creepy charm and interesting plotpoints. Atwill is sedate yet sinister, while Wray is her usual beautiful, vulnerable self. HOUSE OF WAX / MYSTERY OF THE WAX MUSEUM make a great double feature... --This text refers to the DVD edition Was this review helpful to you? ( Report this ) House of Wax- Phyllis Kirk , December 18, 2005 A Kid's Review An otherwise corny film, but viewers can delight in the closeup shots of Miss Kirk's beautiful wriggling toes as she struggles with her iron clamps that hold her down. Was this review helpful to you? ( Report this ) 3 of 3 people found the following review helpful: GOOD OLD FASHIONED GOTHIC THRILLS , November 6, 2005 Reviewer: Michael Butts (Martinsburg, WV USA)- See all my reviews It's 1953, and Vincent Price is about to appear in his first horror film, a move that of course predicated what was to be the genre we remember this marvelous actor for. Filmed in 3-D, a feat in itself for fifty years ago, this tale revolves around Price, a wax museum curator, who is badly disfigured in a fire set by his greedy partner (the effable Roy Roberts) in order to get the twenty five thousand dollars in insurance money. A few years later, a now demented Price wants revenge and gets it, while setting up a fanciful new wax museum whose figures have a secret twist. We all know how they're made, but it's fun guessing along. Carolyn Jones (Addams Family), Phyllis Kirk, Frank Lovejoy and Charles Bronson all show up in supporting roles and the end result is a campy, enjoyable thriller, actually much more interesting than the confusing 2005 remake. Price fans will love this one. --This text refers to the DVD edition Was this review helpful to you? ( Report this ) 1 of 2 people found the following review helpful: Vincent Price enters the world of horror movies via the "House of Wax" , October 26, 2005 Reviewer: Lawrance M. Bernabo (The Zenith City: Duluth, MN United States)- See all my reviews With the new "House of Wax" out on DVD this week I thought it was time to go back and see the original version with Vincent Price. Of course, director Andr De Toth's 1953 film was based on Michael Curtiz's slightly superior 1933 film "Mystery of the Wax Museum," which why those two films have much more in common that the two "House of Wax" films. Besides, this "House of Wax" was shot in 3-D and part of the fun in watching it again is to spot the 3-D effect. The opening titles and the ping pong player (Reggie Rymal) going after our popcorn are the most obvious ones, but you will notice the film is not full of obvious 3-D shots (pay attentions to limbs and such, especially on the Can-Can dancers). The craze was launched the previous year with the release of "Bwana Devil," in an attempt to win back audiences from the exploding success of television. Fortunately, "House of Wax" stands on its own. This time the setting is in Baltimore before the Civil War rather than contemporary New York City. Henry Jarrod (Vincent Price) is a brilliant artist when it comes to making wax figures, although the way he talks to his creations makes us doubt his sanity. When Jarrod's partner, Matthew Burke (Roy Roberts), tries to burn down their wax museum for the insurance money, Jarrod fights him and is presumed killed in the inferno trying to rescue his beloved creations. Years later a hideously disfigured man kills both Burke and his gold digging mistress, Cathy Gray (Carolyn Jones), whose bodies are stolen from the morgue. At this same time Jarrod, now rolling around in a wheelchair with his hands horrible burned by the fire, opens up his new House of Wax. Jarrod has become interested in using Sue Allen (Phyllis), the ex-roommate of Burke's dead mistress, as the model for his new Marie Antoinette. Sue is seeing Scott Andrews (Paul Picerni), who is working as one of Jarrod's assistants, along with the deaf-mute Igor (Charles Bronson when he was still going by Buchinsky) and the squirrelly Leon Averill (Nedrick Young). Meanwhile, Lt. Brennan (Frank Lovejoy) and Sgt. Jim Shane (Dabbs Greer), are investigating the disappearing corpses and trying to figure out the mystery. The problem is that from the viewers point of view it is clear who is doing the murders, so there are no real surprises here. The only really spooky part is when the shadowy figure is following the damsel in distress through the misty streets. But there is fun to be had in just seeing the displays of wax works in the two museums, both of which are filmed in such rich colors that you forget their are dead people underneath the wax. If you have ever been to a real wax museum, that is to say a good one like one of Madame Tussaud's (in London for me), the only real difference is that the chamber of horrors is dimly lit to heighten the effects (and the shocks), while Jarrod's displays are bathed in light (all the better to see them in). Besides, it is the idea of what those figures really are that is at play here. The whole idea of preserving corpses as art, whether you use wax or plaster (as in "A Bucket of Blood") is pretty creepy. The whole idea of displaying perfectly preserved corpses, as was done with Vladimir Lenin and Eva Peron, seems rather ghoulish if you are not part of those respective cults of personality. The recent controversy over whether sending plastinated corpses on exhibition tours crosses the line between science education and desecration speaks to this as well. The climax of these films always comes when the wax breaks or melts away and the horrible truth is revealed. "House of Wax" also has the added advantage of letting us see Vincent Price's face crumble away to reveal the horrors beneath, which would be repeated in the Dr. Phibes movies. In fact, it was "House of Wax" that effectively launched Price on his career in horror films for which he is ultimately remembered. Was this review helpful to you? ( Report this ) See all 58 customer reviews... So You'd Like To... Own the Ultimate Horror Collection? :by Lonely Schoolboy , Screenwriter Watch Horror Movies :by jem-aja , Horror Fan find out horror's REAL timeline? :by Wes , horror fanatic, monster hunter Listmania! The Price of Legend: The 10 Best Vincent Price Appearances :A list by owl_stretching_time , Film Merchant and Price Nut. My Favorite Vincent Price Films :A list by Trish , Vinnie fan Best Classic Horror Movies--EVER :A list by Trish , Horror buff Browse for VIDEO in: Amazon.com Outlet > Video Outlet > Deals Under $12 VHS > Genres > Horror > General VHS > Genres > Horror > Classic Horror & Monsters > General VHS > Today's Deals in Video > Deals Under $12 VHS > Studio Specials > Warner Home Video > Warner Video Bargains > Horror • I have seen this video, and I want to review it. • tell a friend about this item . • Write a So You'd Like to... guide . • Check Purchase Circles . For more information about "House of Wax," visit the Internet Movie Database (IMDb) Suggestion Box Your comments can help make our site better for everyone. If you've found something incorrect, broken, or frustrating on this page, let us know so that we can improve it. Please note that we are unable to respond directly to suggestions made via this form. If you need help with an order, please contact Customer Service . 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CREA Privacy | Legal | Contact Us | Français 344 Slater Street, Suite 1600, Ottawa, ON K1R 7Y3 Tel: (613) 237-7111 Fax: (613) 234-2567 News Release: MLS ® Statistics: Interactive Pricing Map Search for: Real Estate Board: Abitibi -Tmiscamingue Barrie & District Brampton Brandon Brantford BC Northern Calgary Cambridge Chatham-Kent Chilliwack & District Cornwall Durham Edmonton Estevan Estrie Fort McMurray Fraser Valley Fredericton Georgian Triangle Grande Prairie Grey Bruce Owen Sound Guelph & District Hamilton-Burlington Haute-Yamaska Huron Perth Kamloops & District Kawartha Lakes Kingston & Area Kitchener-Waterloo Kootenay Lanaudiere Laurentides Lethbridge Lloydminster London & St Thomas Medicine Hat Mississauga Moncton Montral (Grand) Moose Jaw Muskoka & Haliburton Newfoundland & Labrador Niagara North Bay Northern New Brunswick Oakville,Milton & District Okanagan-Mainline Orangeville & District Orillia & District Ottawa Outaouais Parry Sound Peterborough & Kawarthas Prince Albert Québec Quinte & District Red Deer & District Regina Renfrew County Rideau - St. Lawrence Saguenay-Lac-St-Jean Saint John Sarnia-Lambton Saskatoon Sault Ste. Marie South Okanagan Sudbury Thunder Bay Tillsonburg District Timmins Toronto Valley Vancouver Vancouver Island Victoria West Central Alberta Windsor-Essex County Winnipeg Woodstock-Ingersoll York Region Yellowknife Real Estate Association: Alberta British Columbia Manitoba New Brunswick Newfoundland & Labrador Nova Scotia Ontario Prince Edward Island Quebec Saskatchewan Yukon REALTORS® spread holiday cheer The holiday season is a favorite time of the year for most children as it is often centered on special feasts, family and gifts. But for others, the magic of the holiday season depends greatly on the generosity of the communities in which they live. As the need to help less fortunate children grows, so too does the REALTORS® Association of Hamilton-Burlington's commitment to its annual charity auction. This year, REALTORS® raised more than $72,000 for the Christmas Tree of Hope campaign, which supports more than 20 children's charities in the Hamilton-Burlington community. RAHB is the single largest contributor to this campaign, with local REALTORS® raising almost $500,000 over the past seven years. "The response from the community this year was overwhelming," said Tony Locane, Charity Auction Ad Hoc Committee Chairman. "Although people have been assisting those who were hit by natural disasters throughout the year, the community still supported our auction. You really can never underestimate the generosity of the people in the Hamilton/Burlington community when it comes to supporting children's causes." CREA represents more than 82,000 REALTORS® across Canada. The Association owns the MLS® trademark, has proprietary ownership of the REALTOR® trademark, and operates national web sites including mls.ca for residential properties and ICX.CA for commercial listings across Canada. For Residential Property For Commercial Property For International Property ©2004 The Canadian Real Estate Association. All Rights Reserved.

Rental Property 10.1 Capital

Frequently Asked Questions - Keyword: Rental Property Home | Contact IRS | About IRS | Site Map | Español | Help Advanced Search Search Tips IRS Resources Compliance & Enforcement Contact My Local Office e-file Forms and Publications Frequently Asked Questions News Taxpayer Advocacy Where To File Frequently Asked Tax Questions And Answers Keyword: Rental Property 10.1 Capital Gains, Losses/Sale of Home: Property (Basis, Sale of Home, etc.) I lived in a home as my principal residence for the first 2 of the last 5 years. For the last 3 years, the home was a rental property before selling it. Can I still avoid the capital gains tax and, if so, how should I deal with the depreciation I took while it was rented out? If, during the 5-year period ending on the date of sale, you owned the home for at least 2 years and lived in it as your main home for at least 2 years, you can exclude up to the maximum dollar limit. However, you cannot exclude the portion of the gain equal to depreciation allowed or allowable for periods after May 6, 1997. This gain is reported on Form 4797. If you can show by adequate records or other evidence that the depreciation allowed was less than the amount allowable, the amount you cannot exclude is the amount allowed. Refer to Publication 523 , Selling Your Home and Form 4797 (PDF), Sale of Business Property for specifics on calculating and reporting the amount of gain. References: Publication 523 , Selling Your Home Publication 527 , Residential Rental Property Publication 587 , Business Use of Your Home Form 4797 (PDF), Sale of Business Property 11.1 Sale or Trade of Business, Depreciation, Rentals: Depreciation & Recapture Can the entire acquisition cost of a computer that I purchased for my business be deducted as a business expense or do I have to use depreciation? The entire acquisition cost of a computer purchased for business use can be expensed under Code section 179 in the first year if qualified, or depreciated over a 5-year recovery period. Under section 179, you can elect to recover all or part of the cost of certain qualifying property, up to a dollar limit, by deducting it in the year you place the property in service. You can elect to expense the cost of qualifying property instead of recovering the cost by taking depreciation. To claim the expense in the first year, the property must be used more than 50% for business use, and meet the other requirements for expensing. One of those requirements is that the total cost of qualifying property you can deduct after you apply the dollar limit is limited to the taxable income from the active conduct of any trade or business during the year. Any cost not deductible in one year under section 179 because of the business income limit can be carried to the next year. For any taxable year beginning after 2002 and before 2006, a new law raised the aggregate cost that can be expensed under section 179 to $100,000 and also expanded the definition of Code section 179 property to include off-the-shelf computer software. See IRS site for Code Section 179 for the expanded definition. If you make a choice to depreciate the property you can claim in the placed-in service year of the property a special depreciation allowance for eligible property you acquired after September 10, 2001 and before January 1, 2005. The special depreciation is figured before you calculate your regular depreciation. To qualify for the special depreciation the property must: Be property that is depreciated generally under MACRS (Modified Accelerated Cost Recovery System) and that has a recovery period of 20 years or less. Property required to be depreciated under the straight-line method of the alternative depreciation system of MACRS generally is not eligible. Be property that is acquired by you after September 10, 2001 and before January 1, 2005. Be property that is placed in service by you before January 1, 2005. Be property the original use of which began with you after September 10, 2001. This means that the property is new property. For eligible property acquired after September 10, 2001, and before May 6, 2003, the special depreciation deduction is equal to 30% of the property's depreciable basis. For eligible property acquired after May 5, 2003 and before January 1, 2005, the special depreciation deduction is equal to 50% of the property's depreciable basis. If the property is acquired after May 5, 2003, but there was a written binding contract to acquire the property in effect before May 6, 2003, the property is not eligible for the 50% special depreciation. Also, if the property is acquired after May 5, 2003, but the original use of the property began before May 6, 2003, the property is not eligible for the 50% special depreciation. And, if you acquired the property before May 6, 2003, but placed the property in service after May 5, 2003, the property is not eligible for the 50% special depreciation. If the property is eligible for the 50% special depreciation deduction and you claim this 50% depreciation, you cannot claim the 30% special depreciation deduction for the property. However, you can elect to deduct the 30% (instead of 50%) special depreciation for property eligible for the 50% special depreciation deduction. These elections are made for an entire class of property (for example, 5-year property) instead of for each property. If your property is located within the New York Liberty Zone, there are different rules for special depreciation deduction. See Publication 946 , How to Depreciate Property for additional information on the special deduction. References: Publication 946 , How to Depreciate Property Publication 535 , Business Expenses We have incurred substantial repairs to our rental property: new roof, gutters, windows, furnace, and outside paint. What are the IRS rules concerning depreciation? Replacements of roof, rain gutters, windows, and furnace on a residential rental property are capital improvements to the structure because they materially add to the value of your property or substantially prolong its life. The items would be in the same class of property as the rental property to which they are attached. Since the property is residential rental property, the items are generally depreciated over a recovery period of 27.5 years using the straight line method of depreciation and a mid-month convention. Repairs, such as repainting the residential rental property, are currently deductible expenses. A repair keeps your property in good operating condition. It does not materially add to the value of your property or substantially prolong its life. Repainting your property inside or out, fixing gutters or floors, fixing leaks, plastering, and replacing broken windows are examples of repairs. If you make repairs as part of an extensive remodeling or restoration of your property, the whole job is an improvement. In that case, you should capitalize and depreciate the repair costs as the same class of property that you have restored or remodeled as discussed above. For more information, refer to Publication 527 , Residential Rental Property , and Publication 946 , How to Depreciate Property . References: Publication 527 , Residential Rental Property Publication 946 , How to Depreciate Property 11.2 Sale or Trade of Business, Depreciation, Rentals: Rental Expenses v Passive Activity Losses (PALs) I purchased a rental property last year. What closing costs can I deduct? The only deductible closing costs are those for interest, and deductible real estate taxes. Other settlement fees and closing costs for buying the property become additions to your basis in the property. These basis adjustments include: Abstract fees, Charges for installing utility services, Legal fees, Recording fees, Surveys, Transfer taxes, Title insurance, and Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions. Fees related to obtaining a loan are capital expenses and should be amortized over the life of the loan. For additional information, refer to Publication 527 , Residential Rental Property, Publication 17 , Your Individual Income Tax Guide , and Publication 535 , Business Expenses . References: Publication 527 , Residential Rental Property Publication 17 , Your Individual Income Tax Guide Publication 535 , Business Expenses Can you deduct Private Mortgage Insurance (PMI) premiums on rental property? If so, which line item on Schedule E? Yes. You can deduct Private Mortgage Insurance premium on line 9 of Form 1040, Schedule E (PDF), Supplemental Income and Loss . Write "PMI" on the dotted line. References: Publication 527 , Residential Rental Property Form 1040, Schedule E (PDF), Supplemental Income and Loss Form 1040, Schedule E Instructions , Supplemental Income and Loss 11.3 Sale or Trade of Business, Depreciation, Rentals: Personal Use of Business Property (Condo, Timeshare, etc.) I rent my home out for two weeks each year. Do I have to show the income on my return? You must first consider if you use your dwelling as a home. You are considered to use a dwelling as a home if you use it for personal purposes during the tax year for more than the greater of 14 days or 10% of the total days it is rented to others at a fair rental price. It is possible that you will use more than one dwelling unit as a home during the year. For example, if you live in your main home for 11 months and in your vacation home for 30 days, your home is a dwelling unit and your vacation home is also a dwelling unit, unless you rent your vacation home to others at a fair rental value for more than 300 days during the year. There is a special rule if you use a dwelling as a home and rent it for fewer than 15 days. In this case, do not report any of the rental income and do not deduct any expenses as rental expenses. If you itemize your deduction on Form 1040, Schedule A (PDF), Itemized Deductions , you may be able to deduct mortgage interest, property taxes, and any casualty losses. For additional information, refer to Tax Topic 415 , Renting Vacation Property/Renting to Relatives and Publication 527 , Residential Rental Property (including Rental of Vacation Homes) . References: Form 1040, Schedule A (PDF), Itemized Deductions Tax Topic 415 , Renting Vacation Property/Renting to Relatives Publication 527 , Residential Rental Property (Including Rental of Vacation Homes). I am renting a house to my son and daughter-in-law. Can I claim rental expenses? In general, if you receive income from the rental of a dwelling unit, such as a house, apartment, or duplex, there are certain expenses you may deduct. Besides knowing which expenses may be deductible, it is important to understand potential limitations on the amounts of rental expenses that may be deducted in a tax year. There are several types of limitations that may apply. Passive Activity losses : In general, you can deduct passive activity losses only from passive activity income (a limit on loss deductions). You carry any excess loss forward to the following year or years until used, or until deducted in the year you dispose of your entire interest in the activity in a fully taxable transaction. There are several exceptions that may apply to the passive activity limitations. Refer to Publication 527 , Residential Rental Property and Publication 925 , Passive Activity and At-Risk Rules . At risk rules: The at-risk rules limit your losses from most activities to your amount at risk in the activity. You treat any loss that is disallowed because of the at-risk limits as a deduction from the same activity in the next tax year. If your losses from an at-risk activity are allowed, they are subject to recapture in later years if your amount at risk is reduced below zero. Refer to Publication 925 , Passive Activity and At-Risk Rules. Not for profit activities: 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. Any rental expenses in excess of rental income cannot be carried forward to the next year. Refer to Publication 527 , Residential Rental Property and Publication 535 , Business Expenses . Rental of a dwelling unit: The tax treatment of rental income and expenses for a dwelling unit that you also use for personal purposes (renting to a relative may be considered personal use even if they are paying you rent) depends on whether you use it as a home. Refer to Publication 527 , Residential Rental Property . Expenses in connection with rental of a dwelling unit for less than 15 days per year . Refer to Publication 527 , Residential Rental Property . References: Publication 527 , Residential Rental Property Tax Topic 414 , Rental Income and Expenses Tax Topic 415 , Renting Vacation Property/Renting to Relatives 11.4 Sale or Trade of Business, Depreciation, Rentals: Sales, Trades, Exchanges What form(s) do we need to fill out to report the sale of rental property? The gain or loss on the sale of rental property is reported on Form 4797 (PDF), Sale of Business Property . Form 1040, Schedule D (PDF), Capital Gains and Losses , is often used in conjunction with Form 4797. For further information, refer to Publication 544 , Sales on Other Disposition of Assets, Publication 550 , Investment Income and Expense , the Instructions to Form 4797 (PDF), Sale of Business Property , and the Instructions to Form 1040, Schedule D, Capital Gain and Losses . References: Form 4797 (PDF), Sale of Business Property Form 4797 Instructions Publication 544 , Sales and Other Dispositions of Assets Publication 550 , Investment Income and Expense Form 1040 Schedule D (PDF), Capital Gains and Losses We are selling rental property and have never claimed depreciation. What do we do about this when we file our taxes? When reporting the sale of or computing gain or loss on rental property, you are required to make an adjustment to your basis for allowable depreciation regardless of whether the deduction was taken. For more information refer to Publication 544 , Sales or Other Dispositions of Assets , and the Form 4797 Instructions , Sales of Business Property . You can claim the depreciation not taken for the rental property in the years before the year of sale. How to do this depends on when you placed in service the rental property. If you placed in service the rental property before calendar year 2003, you may amend your income tax returns for the years before the year of the sale by using Form 1040X (PDF), Amended U.S. Individual Income Tax Return , to take the depreciation deductions for the rental property that should have been taken. Or, you may file a Form 3115 (PDF), Application for Change in Accounting Method , to claim the depreciation for the rental property that should have been taken for the years before the year of the sale. The Form 3115 must be timely filed for the same tax year in which you sell the rental property. If you placed in service the rental property after calendar year 2002 and you have unclaimed depreciation for two or more years before the year of sale, you must use Form 3115 (PDF), Application for Change in Accounting Method , to claim the depreciation for the rental property that should have been taken for the years before the year of the sale. The Form 3115 must be timely filed for the same tax year in which you sell the rental property. If you placed in service the rental property after calendar year 2002 and you have unclaimed depreciation for only the year immediately preceding the year of sale, you may amend your income tax return for that prior year by using Form 1040X (PDF), Amended U.S. Individual Income Tax Return , to take the depreciation deduction for the rental property that should have been taken. Or, you may file a Form 3115 (PDF), Application for Change in Accounting Method , to claim the depreciation for the rental property that should have been taken for the prior year. The Form 3115 must be timely filed for the same tax year in which you sell the rental property. References: Publication 544 , Sales or Other Dispositions of Assets Form 1040X (PDF), Amended U.S. Individual Income Tax Return Form 3115 (PDF), Application for Change in Accounting Method Form 3115 Instructions , Application for Accounting Method Form 4797 Instructions , Sales of Business Property Publication 527 , Residential Rental Property (including Vacation Homes) What forms do we file to report a loss on the sale of a rental property? The loss on the sale of rental property is reported on Form 4797 (PDF), (Sale of Business Property) as ordinary loss. References: Form 4797 (PDF), Sale of Business Property Publication 544 , Sales and Other Dispositions of Assets More Frequently Asked Tax Questions Accessibility | FirstGov.gov | Freedom of Information Act | Important Links | IRS Privacy Policy | U.S. Treasury

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