2006-07-22 17:07:50 · 6 answers · asked by Makita H 1 in Business & Finance ➔ Taxes ➔ United States
no, only interest you paid if you have a mortgage on the house you live in. rent is not deductible. unless possibly it is a business expense?
2006-07-22 17:11:26 · answer #1 · answered by BonesofaTeacher 7 · 0⤊ 1⤋
Certain states allow you to deduct a certain amount of your rent off your income. You would likely take the standard for federal if you are renting but consult a software program to verify (ie-Turbo Tax)
2006-07-22 17:13:07 · answer #2 · answered by mallasch42 2 · 0⤊ 0⤋
Check with a tax professional. There's a certain percentage of your rent you can deduct if you have a home office.
2006-07-22 17:12:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Generally no.
The only way you could possibly deduct a portion of your rent is if you run a business out of your residence and can identify a specific area in your residence that is for business only.
2006-07-22 17:12:28 · answer #4 · answered by jamie5987 4 · 0⤊ 0⤋
In Michigan it can. We use the homestead property tax credit form. (1099CR) There is a place on there for renters. You do need your landlord's name, address and phone number. Depending on what you made that year, it can make a decent difference in your refund!
2006-07-24 07:47:34 · answer #5 · answered by tiffany6322 4 · 0⤊ 0⤋
business office rent. Make sure you pay it through your business account
2006-07-22 20:07:04 · answer #6 · answered by Axiom 3 · 0⤊ 0⤋