can you claim your rent on your taxes?

Answer 1

Some states offer credits or other deductions for rent paid, but it usually depends on your income level if you qualify for them. I know for example that CA has a renters credit, and MI has a Homestead Property Tax Credit.

Answer 2

Assuming you mean rent paid on your residence...

on the U.S. Individual Income Tax Return, generally, no...

but...

yes, on some of the income tax returns I prepare, I do deduct a portion of rent paid. How? In this one situation that immediately comes to mind...

The tenant/taxpayer owns a business and his/her office is in the home. The square feet of the office space divided by the square feet of the total area rented is the percentage applied to the total rent paid for the year.

What's more is that we take that same percentage and multiply it to the total household utilities, repairs, upkeep and insurance paid during the year.

When we think outside the box, ideas churn, don't they?
(There are many tax, as well as life, benefits of owning ones own business!)

Phil
http://www.phillipfostercpa.com/tax.html

Answer 3

You can not claim rent on your federal tax return, but some states do allow a renters credit on their state return.

Answer 4

In Massachusetts the answer is yes. You can use 50% of your apartment or house rent as a deduction, up to (kind of low) yearly max.

Answer 5

In India we can. But I do not know the IT laws in your Country.

Answer 6

REN FOR A LOT

Answer 7

i think that you can but talk to you cpa and find out for sure

Answer 8

No.