2007-03-04 06:12:49 · 5 answers · asked by tlp31569 1 in Business & Finance ➔ Taxes ➔ United States
Rent that is paid for your living space is not deductible on the Federal Tax return.. Some States have a renters Credit that you might be able to apply for. Check with your State Dept of Revenue
2007-03-04 06:21:51 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Property tax deductions are only for homeowners or owners of real esate property.
Good new is you can receive a potential deduction if you use the property as an office for business purposes. Get with your tax advisor fopr more info or go to www.irs.gov.
2007-03-04 14:19:22 · answer #2 · answered by ? 5 · 0⤊ 0⤋
Yes. Rent payments as liitle a $ 1 dollar can be deducted on your taxes, but, only if they are for a business; you cannot deduct your household rent (it is a personal expense).
2007-03-04 14:17:53 · answer #3 · answered by bold4bs 4 · 0⤊ 1⤋
Not on your federal return. Some states have a program to give partial rebates of rent paid - the programs are often limited by age and/or income.
2007-03-04 15:49:35 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
No
2007-03-04 14:15:21 · answer #5 · answered by Box815 3 · 0⤊ 0⤋