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jorgetorres4426
New Member

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

 
8 Replies
JulieH1
New Member

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

Unfortunately, you cannot claim what you paid as rent as a deduction.

Landlords reap the benefits of rental property tax deductions more than tenants. If you rent an apartment or house, you may be looking for a rental tax deduction. Unfortunately, renters cannot deduct rent payments from your federal return. The property owner has it better off when it comes to the tax benefits of rental property. Landlords should report all rental income and deduct all out-of-pocket rental property expenses including maintenance, insurance, tax and interest in full, according to the IRS.

It’s not all bad news, however, for all the renters out there. Some states offer a rental tax deduction and there may be other federal deductions renters can claim. Let’s take a look at some other tax deductions you may be able to take.

  1. Federal deductions: Don’t be overly disappointed that you can’t deduct your rent payments from your federal income tax. Check to see if you pay property taxes as part of your lease agreement. If you do, you can deduct that portion of your rent or any property tax you pay directly. Additionally, you can deduct property losses or cost of damage of your property from fire, theft, flood or other accidents or natural disasters as long as your insurance provider does not reimburse you for the losses. We’ll cross our fingers and toes you don’t have to take that one.
  2. Business use of your home: Do you work from your rental home? Expenses related to your home office can be deducted from your federal and state taxes. You can deduct the amount of rent represented by the square footage of your home used for business as well as a prorated portion of utility payments like water, power, heating and gas. A few years ago, the IRS made it easier for business owners to claim this deduction with the simplified option for home office deduction. Read more about it here.
  3. Renter’s tax credit: Some states offer a credit for renters based on an amount that the state has determined equals the amount of rent the landlord collects to pay property taxes. To see if your state offers this credit, contact your state directly.
Meowcaholic
New Member

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

I am on SSI disability. Every year I do my taxes and the accounting aid society. I always tell them how much I pay in rent, and the amount of rent I pay would always be the factor in how much I got back. like one year I paid more rent and got more back, the next year my rent was less so when I asked why I was getting 100 dollars less than last year they said cause my rent is less now. So are you saying Trump took my tax return away? I'm so poor, i only make 771 a month, I live off that amount... the little 400 bucks in tax returns I get each year is the only way for me to get a few extra bucks for something like getting to fix anything in my house, or the only way I can even upgrade or get a new pc. if it wasn't for tax returns I wouldn't even have a computer.. how does someone even buy a computer when they live off of 700 bucks a month???

 

So are you telling me this is a new thing that was not the rule before Trump screwed everyone's taxes up? 

Carl
Level 15

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

What you pay for rent is never deductible on your federal return and it never has been. However, if your state taxes personal income some states allow for what is called a "renter's credit". But you don't deal with that until you get to your state return, and only if your state offers such a credit and you actually qualify for said credit.

 

"So are you telling me this is a new thing that was not the rule before"

Nope. There is no "new rule" on this at all. Absolutely nothing what-so-ever has changed on that front. You have never be able to deduct what you pay for rent on your *FEDERAL* return.  But like I stated, if your state offers a break, usually in the form of a renter's credit, you'll deal with that after you have completed the federal return and are working on your state return.

If you have further questions on this, then you need to include what state you're in, as there are 37 states that tax personal income.

xmasbaby0
Level 15

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

@Meowcaholic Rent has never been deductible on your federal return.  There are a few states that allow a rent credit or deduction,  The new federal tax laws have nothing to do with your rent credit if you live in one of those states.

 

There is not a rent deduction or credit on your Federal return.  If your state has anything for renters you will be prompted to enter your rent info when you complete your state return.  As far as I know, the states that have anything for rent are Arizona, California, Connecticut, Hawaii, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, Rhode Island, Vermont, and Wisconsin.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
PaulQ
New Member

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

Not so in Massachusetts. Massachusetts allows you to deduct half the rent you paid up to $3,000. 

 

https://www.mass.gov/service-details/deductions-on-rent-paid-in-massachusetts

 

Turbotax has not incorporated this deduction into their form

DawnC
Expert Alumni

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

The statements above about not being able to deduct rent are referring to the federal return.   There is no renter's credit on the federal return.  Massachusetts and some other states do have renter credits available but the rules for each differ based on the state.   There is a section in the MA state return to claim the renter's credit in TurboTax.    @PaulQ

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PaulQ
New Member

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

I'm well aware of that. It was by the time I got around to the Massachusetts section of my return that the rent deduction failed to appear.

IsabellaG
Expert Alumni

I'm renting a apartment it didnt ask me any of that do i go somewhere else on here to claim that?

@PaulQ you will see the rent deduction in your Massachusetts return on the screen Additional Massachusetts Deductions.

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