Deducting Rent Payments on Taxes

Can you deduct your rent payment on your taxes? I have been told two different things. So if there are people that are familiar with this please inform us asap. Thank you for your support.

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By Vera from Wichita Falls, TX

January 25, 20100 found this helpful

No you cannot deduct rent; if you could I would be doing it. I have been preparing tax returns for family and friends for years using TurboTax. If you want to confirm this go to the IRS website and do a search. I think the link is www.IRS.Gov. Hope that helps.

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January 25, 20100 found this helpful

Let me add to the previous statement I made. Do you use part of your home for business? In that case you can deduct part of it.

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January 26, 20100 found this helpful

Sorry, no you cannot deduct your rent payments. It is one of the benefits of home ownership.

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January 28, 20100 found this helpful

In the state of Missouri, you can get a credit for rent payments if you are retired and drawing SSI or if you are disabled. It is a percentage of your total rent for the previous year. I don't know about other states.

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January 28, 20100 found this helpful

Here's the specific page at the IRS site that answers your question:

http://www.irs.gov/publications/p529/ar02.html#en_US_publink100027032

Scroll almost all the way to the bottom under the "Non-Deductible Expenses" heading--rent is there as a no-no.

Unless you are running a home business, in which case you're permitted only a portion of the rent dependent upon how many rooms in your rental you're using for the home office; there's plenty more on that at the IRS site, too.

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