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I live in the Presidio in SF which is federal land run by the government I pay rent for my entire household which roughly $7,000 a month. Do I get any tax break?

 
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GeoffreyG
New Member

I live in the Presidio in SF which is federal land run by the government I pay rent for my entire household which roughly $7,000 a month. Do I get any tax break?

Rent prices are crazy (expensive) throughout the San Francisco area, and especially so in the more desirable neighborhoods like the Presidio.  For this, we sympathize with you.

That said, there unfortunately is no specific income tax break or benefit that is allowed at the federal level for residential rent.  The one exception to that would be if you are a self-employed person, and part of your rent (or at least that which covers an area you could legitimately call your home office) could be claimed as a business expense by taking a home office deduction.

On the state level, there is the California state renter's credit.  But if you can afford to pay rent in the Presidio, you likely won't meet the state maximum income limits for claiming the credit.  Plus, it's a maximum amount of $60 (or $120) per year, which pales in comparison to your $7,000 monthly rent.  You can read more about the California credit here:

https://www.ftb.ca.gov/individuals/faq/ivr/203.shtml


Finally, on a local level, the San Francisco rent board (http://sfrb.org/) may have some thoughts, and you could try asking them; but we aren't aware that rent controls or assistance generally apply to the Presidio properties.

We are truly sorry about that; but the above facts are all that currently exist in the federal and state tax code for the benefit of renters (even those with tremendously high rents, like people living in S.F., NYC, Boston, L.A., Washington, D.C., etc.).

Thank you for asking this question.

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