Can you claim your rent as a tax deduction?
Answer:
Absolutely not. Why would you think so?
Federal No. It's a personal choice, that is the government will not subsidize your living accomodations. Part of it if you have a home office, but I would double check this. State level - some states offer household credits.
you can claim a renter's credit. It is a very small amount though.
Not sure about the states, but you can claim it in Ontario.
No, not on your federal taxes.
The laws about home offices are changing every day. Check with a tax consultant.
In theory, you can deduct the percentage of your rent that equals the percentage of your house that is a home office. This may only be for homeowners and their mortgage payment.
Sorry! No. If you owned a house, you could deduct the taxes and interest. But rentals are not tax deductible.
Now i have a question for you, and this will determine if you can deduct your rent? Are you using your home as a business. If you have a office in your home that you work at, it is possible that some of your rent could be tax deductible.
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