Cost of Keeping Up Home Logo

  • Cost of Keeping Up Home

  • Keep for Your Records

  • The amount you paid goes in the first blank. The amount others paid goes into the second blank.

  • Property Taxes*

  • Mortgage Interest expenses*

  • Rent

  • Utility Charges

  • Property Insurance

  • Food eaten in the home

  • Other household expenses

  • Fair market rental value*

  • *Under proposed regulations, fair market rental value may be used (instead of the sum of payments for property taxes, mortgage interest expenses, and property insurance)

     

     

  • Totals

  • Minus total amount you paid ( )

  • Amount others paid

    If the total amount you paid is more than the amount others paid, you meet the requirement of paying more than half the cost of keeping up the home.

  • Costs you include. Include in the costs of keeping up a home expenses such as rent, mortgage interest, real estate taxes and insurance on the home, repairs, utilities, and food eaten in the home. As an alternative to including mortgage interest, real estate taxes, and insurance under proposed regulations, you may include the fair market rental value of the home.

    Costs you don't include. Don't include the cost of clothing, education, medical treatment, vacations, life insurance, or transportation. Also, don't include the value of your services or those of a member of your household.

    Payments received under Temporary Assistance for Needy Families or other public assistance programs used to pay the costs of keeping up the home can be counted as money you paid. Amounts paid out of funds received in the child's or qualifying person's name, such as social security, are considered paid by the child, not you.

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