skip navigation

Search Help
Navigation Help

Tax Map Index
ABCDEFGHI
JKLMNOPQR
STUVWXYZ#

International
Tax Topic Index

Affordable Care Act
Tax Topic Index

FAQs
Forms
Publications
Tax Topics

Comments
About Tax Map

IRS.gov Website
Instructions for Schedule E (Form 1040)
taxmap/instr/i1040se-006.htm#en_us_publink24332td0e2020

Part IV(p10)

rule
taxmap/instr/i1040se-006.htm#en_us_publink24332td0e2025

Income or Loss From Real Estate Mortgage Investment Conduits (REMICs)(p10)

rule
If you are the holder of a residual interest in a REMIC, use Part IV to report your total share of the REMIC's taxable income or loss for each quarter included in your tax year. You should receive Schedule Q (Form 1066) and instructions from the REMIC for each quarter. Do not attach Schedule(s) Q to your return. Keep them for your records.
If you are treating REMIC items on your tax return differently from the way the REMIC reported them on its return, you may have to file Form 8082.
If you are the holder of a residual interest in more than one REMIC, attach a continuation sheet using the same format as in Part IV. Enter the combined totals of columns (d) and (e) on Schedule E, line 39. If you also completed Part I on more than one Schedule E, use the same Schedule E on which you entered the combined totals in Part I.
REMIC income or loss is not income or loss from a passive activity.
Note.(p10) If you are the holder of a regular interest in a REMIC, do not use Schedule E to report the income you received. Instead, report it on Form 1040, line 8a.

taxmap/instr/i1040se-006.htm#en_us_publink24332td0e2059
Column (c).(p10)
rule
Report the total of the amounts shown on Schedule(s) Q, line 2c. This is the smallest amount you are allowed to report as your taxable income (Form 1040, line 43). It is also the smallest amount you are allowed to report as your alternative minimum taxable income (AMTI) on Form 6251, line 28.
If the amount in column (c) is larger than your taxable income would otherwise be, enter the amount from column (c) on Form 1040, line 43. Similarly, if the amount in column (c) is larger than your AMTI would otherwise be, enter the amount from column (c) on Form 6251, line 28. Enter Sch Q on the dotted line to the left of this amount on Form 1040, line 43, and Form 6251, line 28, if applicable.
Note.(p10) These rules also apply to estates and trusts that hold a residual interest in a REMIC. Be sure to make the appropriate entries on the comparable lines on Form 1041.

caution
Do not include the amount shown in column (c) in the total on Schedule E, line 39.
taxmap/instr/i1040se-006.htm#en_us_publink24332td0e2101
Column (e).(p10)
rule
Report the total of the amounts shown on Schedule(s) Q, line 3b. If you itemize your deductions, include this amount on Schedule A (Form 1040), line 23.