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MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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is rent tax deductible

Resolved Question:

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Submitted: 9 years ago.
Category: Tax
Expert:  MequonCPA replied 9 years ago.


Rent is not a deductible expense. Some states provide a renters credit, but Minnesota does not appear to be one of them.

Customer: replied 9 years ago.
Reply to Steve's Post: If I work from home and use a part of my apartment exclusively for business, is any portion of my rent deductible? just want to have this clarified.
Expert:  MequonCPA replied 9 years ago.


Are you self employed, or an employee.

Do you have an office available at your employer (if employee)

Customer: replied 9 years ago.
I am self employed, not an employee. i work from my desk inside my studio apartment. i bill my clients by the hour.
Expert:  MequonCPA replied 9 years ago.


You will be able to deduct a percentage of your rent and utilities based on the area used exclusively for business use compared to the total square footage of the apartment.

MequonCPA and 3 other Tax Specialists are ready to help you