Can I Deduct my Rent from Taxes?

Answer

No rent cannot be deducted from taxes, hence the reason more and more people are buying homes so they can claim the interest on the mortgage. Renting does not help your taxes.

Ask.com Answer for: can i deduct my rent from taxes

Can I Deduct My Rent From Taxes?

As with so many other questions regarding the tax code, the answer to the question of whether rent is deductible is "it depends." The general rule is that personal rent expenses are not normally tax-deductible -- your basic living expenses are already... More »

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Q&A Related to "Can I Deduct my Rent from Taxes?"

how to deduct rent from taxes in pennsylvania?

1. Measure your home office. Divide the square footage of the office by the square footage of the house. Divide your rent by this percentage (and utilities as well). This is how much

http://www.ehow.com/how_6467938_deduct-rent-taxes-...

how to deduct rent on federal income tax?

1. Visit the IRS website and download publication 587 (Business Use of Your Home). This document lists the conditions that you must meet before you can deduct rent from your tax return

http://www.ehow.com/how_7239848_deduct-rent-federa...

how much of rent money is tax deductible?

Rent payments to a landlord for a personal residence are not typically tax deductible. Much like food, clothing and other consumer expenses, rent is considered an ordinary purchase

http://www.ehow.com/info_12072738_much-rent-money-...

What Items are Tax Deductible?

There is a pretty long list of items that can be claimed as a tax deduction, like tax advise or books, mortgage interest, and work uniforms. You can also deduct items like charitable

http://answers.ask.com/Business/Finance/what_items...