-I- am Renting a townhouse $625 a month. Wondering if I can add it? Selected that option in the beginning but nothing came up now. And I'm a first timer for turbo tax so idk exactly what I'm looking for.
04608
1 Best answer
jerry2000
Alumni
Jun 5, 2019 11:31:13 PM
Rent for your personal residence is not deductible on your federal tax return and is not entered on the federal return. Some states have a renter's credit, if yours does, it will be covered in the state interview when you prepare your state return.
4 Replies
jerry2000
Alumni
Jun 5, 2019 11:31:08 PM
Please explain. Are you paying rent for it for you residence? Or are you getting rental income from a tenant to whom you rented it?
and-mber
New Member
Jun 5, 2019 11:31:10 PM
Updated. ^ 🙂
and-mber
New Member
Jun 5, 2019 11:31:11 PM
Ok. Thanks. I didn't figure I could but when I saw rental I just wanted to read of it at least. Thanks.
jerry2000
Alumni
Jun 5, 2019 11:31:13 PM
Rent for your personal residence is not deductible on your federal tax return and is not entered on the federal return. Some states have a renter's credit, if yours does, it will be covered in the state interview when you prepare your state return.