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    vaishnavi66's Avatar
    vaishnavi66 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 6, 2006, 05:17 PM
    Rent & mortgage
    Hi All,
    New to the list & here comes my 1st question.
    I pay mortgage for my current home in North Carolina.
    Due to a job change, I moved to New Jersey and am living a rental life.
    By any chance can I deduct my rent also in my taxes.
    Thanks 4 your thoughts.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Oct 6, 2006, 06:15 PM
    No, if you are self employed and still keep your main residence, and travel home to NC on the weekends, one could consider this travel expense for self employment purpose. ( at least in my opinon)

    But if you have moved and perhaps rent your home in NC out, no, this is just like anyone else who is renting.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Oct 7, 2006, 08:54 AM
    If the job change is permanent, then, no, you cannot deduct the rent.

    If, however, the job change is temporary and will not last for more than one year, you may be able to deduct the rent, utilities and other daily living expenses as employee business expenses on Form 2106 and Schedule A.
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