Someone told me that u get money back on your tax refund if u rent ur house...is this true?

Question

If so, what do i need?

I rent the house that I live in. Like, I rent it from my landlord.

Answer 1

On you federal return, no. It's not deductible unless for business use.
However, your state might offer a renter's refund or homestead refund. This form is filed separately from your state return.
There are also certain requirements you'll need in order to qualify for the renter's or homestead refund.
Check with your state's Dept. of Revenue to see if they offer this type of refund and what you need to qualify.

Answer 2

do you pay rent or are you receiving rental income?
if you pay rent, then no, you do not get any deduction or tax benefit from this, unless you have a home office. you can prorate rent and other expenses allocated to the home office.

if you rent out your house and receive rental income, then this must be reported on Schedule E of your tax return. you can also deduct any expenses you incurred to up-keep the house. these expenses can include interest, depreciation, repairs, maintenance, utilities, etc.

ok, then no, rent is not deductible.

Answer 3

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