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

Claiming EITC but Not Dependent

Can you claim your children for the Earned Income Tax Credit but not as dependents, so your ex-spouse can claim them as dependents? Get Tax Answers from H&R Block.

Mortgage Insurance Premiums Tax Deduction

Learn if your entire mortgage insurance premium is tax deductible from the tax experts at H&R Block.

Maximum Income To Deduct Student Loan Interest

What's the maximum income you can have and still deduct student loan interest? Learn the answer from the tax experts at H&R Block.

Qualifying For The Nonbusiness Energy Property Credit

Can you claim your new A/C or heating unity as a nonbusiness energy property credit? Learn more from the tax experts at H&R Block.