Tax Deductions for Renters?

image by realtor.com

With tax season in full swing, we wanted to take a moment to mention some tax deductions for renters. Historically, homeowners have mainly benefitted from tax deductions, but there are some tax deductions for renters. Read more about these possible deductions in this realtor.com article.

Whether you qualify for tax deductions as a renter depends on the nature of your work, how you plan to file your taxes, and where you live. Here’s a list of the top deductions:

-Home Office Tax Deduction

-Property Tax Deduction

-Portion of Rent Deduction (depends on status)

Always contact your CPA to find out the most up-to-date information regarding deductions.