I live in Michigan and have heard in the past there there is something called "Renter's Rebate" that allows me to deduct my rent payments from my taxes. I'm not sure if this is a federal tax or state tax filing, or even if it exists. Anybody know?
2007-02-04 02:29:38 · 4 answers · asked by Dan 1 in Business & Finance ➔ Taxes ➔ United States
It is referring to the Homestead Tax Exemption and a portion of your rent can be deducted from MIchigan state taxes.
This exemption is based on property taxes, and is totally contingent on your income and the percent of taxes.
Go to www.michigan.gov and search on Homestead Tax and Rent you should find the info.
Michigan taxes suck!
2007-02-04 02:40:55 · answer #1 · answered by Gem 7 · 0⤊ 0⤋
If it exists, it's definitely a state entitlement. There is no such Federal program.
I haven't been able to find any information on the MI Treasure Department's website regarding "Renter's Rebates" or tax deductions or credits aimed at renters. It's possible that some other state agency handles that though.
2007-02-04 02:46:12 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It's state by state, and is not on or related to your federal return. Not all states have it, and the ones that do set their own rules, and those vary from state to state. It's often restricted to the elderly, or to people with low incomes. Some states rebate part of rent paid, some rebate part of property taxes, and some do both for people who qualify.
2007-02-04 03:07:57 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
You won't find it in federal...it's a State thing, to give renters a break. It does exist in some States like Michigan and California.
2007-02-04 02:44:12 · answer #4 · answered by McDreamy 4 · 0⤊ 0⤋