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

What Is an Enrolled Agent or EA?

What does it mean to be an enrolled agent? Learn more about the roles and requirements of enrolled agent (EA) tax preparers at H&R Block.

What’s the Difference? Enrolled Agent vs. CPA

What’s the difference between an enrolled agent (EA) vs. a certified public accountant (CPA)? Explore the roles of EAs and CPAs at H&R Block.

Student Loan Interest Deduction

Learn how to deduct student loan interest with H&R Block. Get information about qualified education expenses and see if a student loan tax deduction applies to you.

What Is Virtual Tax Preparation?

Virtual tax preparations let you complete your taxes online from the comfort of your home. Find out how easy remote tax preparations can be at H&R Block.