Does paying over $40,000 in rent affect my return?

[ThomasM125]

Rent is only deductible on your federal return if it is associated with a business. If you rent an office for your business or have a home office in your home that you rent, then at least a part of your rent may be deductible.

Also, sometimes you can get a credit or deduction on your state return if you pay rent on your home, but do not have a business. However, usually this applies if you have a moderate amount of income, but it varies by state.