I live off campus, but I'm a full time student and I pay 695.00 a month for rent. Can I deduct this from my taxes?
2006-09-08 15:04:01 · 7 answers · asked by bug2621 1 in Business & Finance ➔ Taxes ➔ United States
No. The most you can get is any available renter's credit from the state. Housing, in general, is a given. Everyone needs it, uses it, pays for it, etc., so there's no reason to let people deduct it from their taxes. It's just one of those things, like breathing, that is part of life. There's nothing tax deductible about it.
2006-09-08 18:22:22 · answer #1 · answered by misslabeled 7 · 0⤊ 0⤋
Rent is not deductible except in very rare circumstances and being a student isn't one of them :(
2006-09-09 02:20:37 · answer #2 · answered by ken 3 · 0⤊ 0⤋
I don't recall if the renter's credit applies to federal taxes or state taxes. If it's state taxes, then it obviously depends on your state laws. There might be, however, a renter's credit on either federal or state tax return forms. It has nothing to do with being a student.
2006-09-08 22:09:07 · answer #3 · answered by OU812 5 · 0⤊ 0⤋
Here, this site will tell you what you can and can not deduct.
2006-09-08 22:11:14 · answer #4 · answered by mom_of_4 6 · 0⤊ 0⤋
Yes you can.
2006-09-08 22:41:14 · answer #5 · answered by ♫☼♥ ≈ Debbi ≈ ♥☼♫ 3 · 0⤊ 2⤋
No way!
2006-09-12 01:58:33 · answer #6 · answered by Tax Dude 2 · 0⤊ 0⤋
No.
2006-09-08 22:16:00 · answer #7 · answered by Scott K 7 · 0⤊ 0⤋