Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
danielgelfand
Returning Member

Renting a room somewhere else so I can rent out my house

If I rent a room from someone so that I can rent out my house, is MY rent considered  tax deduction?  One could argue that it was a necessary expense in order to generate rental income. 

4 Replies
xmasbaby0
Level 15

Renting a room somewhere else so I can rent out my house

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, Rhode Island, Vermont, and Wisconsin 

 

@Carl  I would answer this, but..... "One could argue that it was a necessary expense in order to generate rental income." 

**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.**
NCperson
Level 15

Renting a room somewhere else so I can rent out my house

it's a personal expense -  which is not deductible  ...which if the IRS permitted the argument, half of America would rent out their home and rent another place to live so that the government would help pay for it via tax deduction.  😉 

danielgelfand
Returning Member

Renting a room somewhere else so I can rent out my house

Thanks, I get that.  Would be a win-win though because govt would make money too.

NCperson
Level 15

Renting a room somewhere else so I can rent out my house

how so? 

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.61m
Discussions

Manage cookies
v