Is rent to own considered renting or owning your home

[shabre14]

i live in a rent to own home my dad is the owner is that rent or mortgage technically?

[AlanT · Accepted solution]

Unfortunately, renting to own your home is renting.  Until your name is actually on the deed, you do not own your home.  

[shabre14]

so does that mean i claim the payments as rent or not claim them at all?

[AlanT]

As rent if you live in a state that gives you a renters credit.  

[shabre14]

wisconsin?

[AlanT]

In your WI return, to enter the rent you paid please follow these steps:

1. Go into your WI return.
2. On the screen, Take a look at Wisconsin credits and taxes, click the Start/Revisit box next to School Property Tax Credit.  
3. Continue through the screens to enter the amount of rent you paid for the year as well as property taxes paid.
4. You will be brought back to the Wisconsin credits and taxes screen.
5. Click on the Start/Revisit box next to Homestead Credit.
6. Continue through these screens to calculate the credit.

[shabre14]

thank you

[AlanT]

You are welcome