I stay in an rental apartment. Is there a way, I can include rent amount in the 1040 tax form?
2007-02-21 08:18:40 · 7 answers · asked by RocktheParty 1 in Business & Finance ➔ Taxes ➔ United States
No. Just spoke to a CPA about that. If using the apt for majority of your income by running a home office then there are certain write-offs but not rent.
2007-02-21 08:26:19 · answer #1 · answered by daven71 4 · 1⤊ 0⤋
No, rent is not deductible on your Federal return.
If you maintained a home office for the convenience of your employer and met other strict requirements you might be able to take a deduction for the home office. A portion of the rent can go towards that.
2007-02-21 08:34:51 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
No, only if you only use that apartment solely for business use. If it is for ordinary (personal) living purposes you cannot deduct it. That's one of the disadvantages of not owning a home. You may want to check out some of the income credits when you file your taxes. It depends on income, dependents, etc...but at least take a look.
2007-02-21 08:28:25 · answer #3 · answered by fenhongjiatu1 3 · 0⤊ 0⤋
Rent for you living space is not deductible on the Federal Tax return
2007-02-21 08:27:36 · answer #4 · answered by Rob 7 · 1⤊ 1⤋
Only as a home-office deduction on either a Schedule C or as an itemized deduction.
Otherwise it is a personal expense, and not deductible.
2007-02-21 08:42:54 · answer #5 · answered by bold4bs 4 · 0⤊ 0⤋
No, unless it is a business expense because you are living away from you permanent residence without getting paid per diem by your company.
2007-02-21 08:25:57 · answer #6 · answered by crossbones668 4 · 0⤊ 0⤋
you should be able to, i did and i got a lot more back.
2007-02-21 08:26:42 · answer #7 · answered by Kim 3 · 0⤊ 1⤋