2007-02-13 07:59:59 · 8 answers · asked by bob town 2 in Business & Finance ➔ Taxes ➔ United States
You don't actually get your rent back. On the Standard and Short 1040 form there is a space where the rent you pay per month is taken into account as a living expense and you do get a very small credit for it. It will depend on your other expenses and how much in taxes was deducted from any wages or salary you earned, if you received any substantial cash gifts, etc that will really determine whether or not you get any money back.
2007-02-13 08:05:42 · answer #1 · answered by Chanteuse_ar 7 · 0⤊ 0⤋
On your federal return, you can't claim rent unless you're using part of your home exclusively for your business, then you might be able to claim part of it as a business expense.
Some states have rebate programs that rebate a portion of rent payments. The rules vary by state, so check your state website. There are usually requirement by income or age, or both.
2007-02-13 09:43:34 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
You usually can't "claim my rent" on taxes. There is no such federal deduction.
Some states, at least Michigan, offer a Homestead Tax Exemption in which you claim a portion of your house taxes, or rent, to reduce your taxable income.
Good luck, taxes suck.
2007-02-13 08:03:52 · answer #3 · answered by Gem 7 · 1⤊ 0⤋
You cant claim rent on your taxes since its a personal expense. Only if you use your home or apartment for a business and then only the percentage of the home or apartment that you use for business. Getting it back depends on when you file.
2007-02-13 08:04:19 · answer #4 · answered by cinsingl83 3 · 0⤊ 1⤋
If this is a residence NO. If it is a business a portion of it might be deductible. If a person owns a home there are legal deductions. Your best bet is talk to a CPA, NOW.
2007-02-13 08:10:05 · answer #5 · answered by dtwladyhawk 6 · 0⤊ 0⤋
You can't claim your rent only if you own. Sorry
2007-02-13 08:03:31 · answer #6 · answered by melissaw219 3 · 1⤊ 1⤋
you dont claim rent
2007-02-13 08:03:32 · answer #7 · answered by wantme_comegetme 5 · 0⤊ 1⤋
No claiming of your rent.............BBBBUUUUUUUUTTTTTT....... I believe they do have a renter's credit that you can claim.
2007-02-13 08:10:25 · answer #8 · answered by Angela W 3 · 0⤊ 0⤋