Question

I have a question about deducting rent payments on my tax return. Are there any circumstances where you can deduct rent payment on your taxes?

Answer

 

No, there are no circumstances where you can deduct rent payments on your tax return.

Rent is the amount of money you pay for the use of property that is not your own. Deducting rent on taxes is not permitted by the IRS.

However, if you use the property for your trade or business, you may be able to deduct a portion of the rent from your taxes. The amount you can deduct is based the how many square feet of the property is used for your business. However, you must meet the requirements of business use of your home. To learn more visit Deducting Business Expenses at https://www.irs.gov/publications/p535/ch01.html#en_US_2015_publink1000208624.

 

Related Topics

Related Resources

Mississippi Tax Rate

Get all of your questions answered about Mississippi tax rates and brackets with help from the experts at H&R Block.

Claiming Foster or Adopted Child as Dependents

Can you claim your foster or adopted child as a dependent? Learn more about this issue and get tax answers at H&R Block.

Massachusetts Property Tax

Do you own real property in Massachusetts? Learn more about Massachusetts property tax and associated tax rates, with help from the tax pros at H&R Block.

Tips for Claiming the Home Office Deduction

If you work-from-home, telecommute or work virtually, learn about claiming home office deductions from the tax experts at H&R Block.