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Does paying rent on property that was my principal residence mean the land or my apt?

 
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6 Replies
ColeenD3
Expert Alumni

Does paying rent on property that was my principal residence mean the land or my apt?

What is your situation? Are you renting out your primary home? If not, what does rent have to do with it? You pay mortgage interest and property taxes on your home, not rent. Your property includes both the building and the land.

Does paying rent on property that was my principal residence mean the land or my apt?

I rent an apt from a landlord 

LeonardS
Expert Alumni

Does paying rent on property that was my principal residence mean the land or my apt?

A principal residence is the primary location that a person inhabits. It is also referred to as a primary residence or main residence. It does not matter whether it is a house, apartment, trailer, or boat, as long as it is where an individual, couple, or family household lives most of the time.

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Does paying rent on property that was my principal residence mean the land or my apt?

I rent from a landlord, does that mean I'm paying rent on a property?

PattiF
Expert Alumni

Does paying rent on property that was my principal residence mean the land or my apt?

Yes, you are paying rent on a property since you have a landlord that collects the rent.

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Does paying rent on property that was my principal residence mean the land or my apt?

RENT

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, New York, Rhode Island, Vermont, Washington DC, 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.**
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