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I had to break my lease early. Can I declare the associated terminal fees as a loss?
Hello folks,
Last year, I rented an apartment that I used specifically for lodging as a student. As I live in NJ but studied in NY, I was a non-resident in NY and this apartment was not my domicile. Long story short, I had to terminate my lease half way through. Because this apartment was rented for education and because it's not my domicile, I was wondering if I could file the lease-termination expenses ($3500) as an investment loss. Is this possible? Note that I found a somewhat similar question here. However, I assumed that the person asking the question declared his rented apartment as his domicile. I have not done this.
Thank you
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I had to break my lease early. Can I declare the associated terminal fees as a loss?
Sorry, your fee to break your lease is not deductible. Moving costs are not deductible except for certain active duty members of the military.
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I had to break my lease early. Can I declare the associated terminal fees as a loss?
Thank you
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