topic If my boyfriend owns the home we live in but have completely separate finances can I count the money I give him for his mortgage payment every month as rent? in Investors & landlords

If my boyfriend owns the home we live in but have completely separate finances can I count the money I give him for his mortgage payment every month as rent?

CryoSkye — Mon, 03 Jun 2019 20:08:35 GMT

He purchased the home in the beginning of 2018 and I have no claim to the home. My name isn't on the deed, mortgage, anything. If we were to split right now, I would get nothing relating to the home. I give him the same amount of money every month (half the mortgage payment) so could it possible be able to be counted as rent for the Homestead Property Tax Credit?

There is not a rent deduction or credit on your Federal r...

xmasbaby0 — Mon, 03 Jun 2019 20:08:36 GMT

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.

And of course if you claim a state rent credit, BF has to enter the rent as income on his own tax returns and count it as taxable income on his federal and state returns.

Thank you so much! I have been trying to figure out how t...

CryoSkye — Mon, 03 Jun 2019 20:08:38 GMT

Thank you so much! I have been trying to figure out how to best go about this with little success.