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Ask Lane Your Own Question
Category: Tax
Satisfied Customers: 12697
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Where can I claim Rent paid? On Turbo Tax Deluxe

Customer Question

Where can I claim Rent paid? On Turbo Tax Deluxe
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.
Hi,...If you are looking for rent paid by a business, it would be in the section that asks questions about business....There is neither a deduction nor credit for rent paid on a Federal tax return unless the rent is paid for an office or as part of the home office deduction. ...However, some states have credits for rent. If your state is one of those TurboTax will address it in the preparation of the state tax return. ...If you can follow up with information on your state we can answer the question as it pertains to your state.
Expert:  Lane replied 1 year ago.
For example, part of the Michigan tax interview process, you will be asked if you paid property taxes on a homestead or paid rent....You will indicate you paid rent and give the landlord's name and address, the number of months you paid rent, and the monthly rent amount. TurboTax will determine if you are eligible for the Homestead Property Tax Credit (MI-1040CR) based on your taxable income and any other "household resources."
Expert:  Lane replied 1 year ago.
SO, again no deduction at the Federal Level (Unless this is the rent that's used as a business expense deduction) ... but because some states do allow a deduction or credit for such rent. This will be covered in the state interview....Please let me know if you have questions from here...Lane..