With the April 15 tax filing deadline just days away, IRS tax expert Gregory Burke answers some last-minute tax questions.

After receiving what I thought were all of my W-2s and 1099s, I filed my 2012 return. I owe on the federal but received a refund from the state. Last week I received a 1099 from the mortgage company that owns our second mortgage. We had been told that as a "good faith" customer, we would receive a check for $300 for making payments on time. Instead, we received a total of $800. Besides being very late, what are the tax consequences of this amount? I see an amended return in my future.

It sounds like you have $800 of taxable income to report to state and federal tax authorities via amended returns. I'm not aware of any tax provision that excludes this type of payment from income.

Here's the good news: If you file the amended returns and pay the tax owed by April 15, you won't owe any interest, since the tax will be paid in full by the due date.

My son lost his house to foreclosure in 2010. Last year, my wife and I purchased a foreclosed home for his family to live in. We are sole property owners on the deed, with my son paying the mortgage, utilities, closing cost repayments, plus additional money for repairs. I made some repairs and improvements on the property last year. When his credit is re-established, our intent is for him to refinance the mortgage balance and purchase the house. For tax purposes, since we bought the house, is this a rental property or a second home? I am not asking fair-market rent for this property. However, I want to receive tax benefits for closing costs, taxes, insurance, improvements, etc. We do not consider this home a money-making investment, but an investment in my son's future. Please advise.

Based on your statement that your son is not paying fair rental value, the home is not a rental for tax purposes. In order to be considered a rental, with the corresponding tax treatment, the property must be rented at fair rental rates. Its use by a family member at below-market rent is considered personal use by the owner.

The IRS' "vacation home" rules limit the deduction of maintenance expenses and depreciation to the amount of your rental income, reduced by deductible expenses (mortgage interest, property taxes, casualty losses).

Don't forget to report the rental income on state and federal taxes.

The vacation home expense limitations do not apply to a home rented at fair rental value to a relative who uses it as a principal residence. In that case, it would be treated as a rental for tax purposes.

Closing costs are added to the property's cost basis for the purpose of calculating depreciation and gains/losses.

Similarly, the cost of home improvements are added to the tax basis.

More detailed advice on these IRS questions is at www.sacbee.com/ personalfinanceblog.

– Compiled by Claudia Buck

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