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alagrange
New Member

On the rental deduction, I need to enter in rent paid. Do I enter in what I paid or the total rent paid (my half of rent cost or total cost of the rental)

 
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2 Replies

On the rental deduction, I need to enter in rent paid. Do I enter in what I paid or the total rent paid (my half of rent cost or total cost of the rental)

for what purpose? personal rent is not deductible for federal purposes. states may allow some sort of deduction or credit but we would need to know the state and more info about your situation

MayaD
Employee Tax Expert

On the rental deduction, I need to enter in rent paid. Do I enter in what I paid or the total rent paid (my half of rent cost or total cost of the rental)

As Mike9241 mentioned personal rent is not deductible on the federal but you might be able to claim renter's credit on your state return. If your state offers such a credit, we'll ask rent-related questions when you go through your interview in TurboTax. For example in CA the amount of the credit is unrelated to the amount of rent paid.

Find your state from the link below to learn what tax credits you may qualify for:

Am I eligible for a state renter's tax credit?

 

If you are self employed , you may deduct ordinary and necessary expenses for renting property used in a trade or business on Schedule C. You will deduct the amount that you actually paid. 

 

 

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