Last Updated : January 14, 2009
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8914

Form 8914

Exemption Amount for Taxpayers Housing Individuals Displaced by Hurricane Katrina



Use this form to claim

  • taxpayer’s personal exemptions,
  • exemptions for dependents, and
  • additional exemptions amount for providing housing in taxpayer’s main home to one or more individuals displaced by Hurricane Katrina.



Additional Exemption Amount:
Taxpayer can claim an additional exemption amount of $500 for each displaced individual. Additional exemption amount can be claimed only one time for a specific individual. If taxpayer claimed an additional exemption amount for an individual in 2005, cannot claim that amount again in 2006.

The maximum additional exemption amount taxpayer can claim for all displaced individuals is $2000 ($1000 if married filing separately). Any additional exemption amount claimed for displaced individuals in 2005 will reduce the $2000 maximum for 2006.

If two or more taxpayers share the same main home, only one taxpayer in that main home can claim the additional exemption amount for a specific displace individual. For married filing separately, only one spouse can claim the additional exemption amount for a specific displaced individual.

Line 1, Column (a):
Enter the first and last names of up to four individuals displaced by Hurricane Katrina who were provided housing in taxpayer’s main home for a period of at least 60 consecutive days ending in 2006.

If less than 60 consecutive days, taxpayer cannot claim an additional exemption amount for this individual.

Do not enter the name of any individual taxpayer included on a Form 8914 you filed for 2005.

Line 1, Column (b):
Enter the displaced individual’s SSN or ITIN. This information must provide to claim an exemption amount.

Line 1, Column (c):
Enter the street address where the displaced individual’s main home was located on August 28, 2005. That home must have been located in the Hurricane Katrina disaster area on that date.

Line 1, Column (d):
Enter the number of consecutive days the displaced individual was provided housing in taxpayer’s main home free of charge. If it is less than 60 days, taxpayer cannot claim additional exemption amount for this individual.

Line 2:
The program enter automatically maximum additional amount on the base of your filing status. The maximum additional exemption amount for all displaced individuals is $2000 ($1000 if married filing separately).

Line 3:
If taxpayer filed form 8914 in 2005, then check ‘Yes’ checkbox on this line and enter the amount from line 2 of form 8914 of 2005 return.

Line 5:
When you enter the information of displaced individuals on line 1, the program multiply $500 by the number of individuals on line 1. But column 1(d) should be more than 60 days for claiming this amount.

Line 7:
The program will enter the amount automatically on this line on the basis of total number of exemptions claimed on line 6d of Form 1040 or Form 1040A (line 7d of Form 1040NR)

Line 9:
If amount of AGI on taxpayer’s return is less than the amount specified on line 10 of this form, then program will automatically check “No” box on this line and enter the amount from line 8 above to the respective line of the Form 1040, 1040A, 1040NR. In this case it is not required to fill up further form.

If AGI on taxpayer’s return is more than the amount on line 10, then program checks the box “Yes” on this line and enter the amount of AGI from respective forms on this line.

Line 10:
Program automatically enters the amount on this line on the basis of filing status of taxpayer selected on Main information sheet.

Line 11:
Program will subtract line 10 from line 9, and enter on this line.

Line 11, Yes:
If difference is more than $122,500 ($61,250 if married filing separately), checkbox for “Yes” is checked and line 6d of Form 1040 or Form 1040A (line 7d of Form 1040NR) is multiplied by $2200.

The result of above multiplication will be subtracted from line 8 and entered on Form 1040, line 42 (Form 1040A, line 26; or Form 1040NR, line 39). In this case it is not required to fill up further form.

Line 11, No:
If Line 11 is less than $122,500 ($61,250 if married filing separately), checkbox “No” gets checked, and continue to fill up further forms.

Line 16:
Program will subtract line 15 from line 8 and enter the result here and on Form 1040, Line 42; Form 1040A, line 26; or Form 1040NR, line 39.

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