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New Member
posted Jun 4, 2019 2:04:14 PM

Is rent paid on your personal residence tax deductible in new jersey

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1 Best answer
Level 3
Jun 4, 2019 2:04:18 PM

Kind of, rent is not deductible, however, there is a property tax credit for renters for up to $50.  The link with more information is below. 

https://www.state.nj.us/treasury/taxation/njit35.shtml

3 Replies
New Member
Jun 4, 2019 2:04:15 PM

Thanks for the quick reply, when I take a closer look it looks like New Jersey allows a credit or tax deduction of up to 18% of the rent paid, which ever is greater. Am I reading this wrong because I would think 18% of rent paid as a tax deduction would be higher for just about everyone then a $50 tax credit in New jersey.  <a rel="nofollow" target="_blank" href="https://www.state.nj.us/treasury/taxation/amountofproptax_rent.shtml">https://www.state.nj.us/treasury/taxation/amountofproptax_rent.shtml</a>

Level 15
Jun 4, 2019 2:04:17 PM

It depends upon your income and tax rate. The program gives you the better of the two.

Level 3
Jun 4, 2019 2:04:18 PM

Kind of, rent is not deductible, however, there is a property tax credit for renters for up to $50.  The link with more information is below. 

https://www.state.nj.us/treasury/taxation/njit35.shtml