Skip to main content
April 10, 2020
Question

I had to break my lease early. Can I declare the associated terminal fees as a loss?

  • April 10, 2020
  • 1 reply
  • 0 views

Hello folks,

Last year, I rented an apartment that I used specifically for lodging as a student.  As I live in NJ but studied in NY, I was a non-resident in NY and this apartment was not my domicile.  Long story short, I had to terminate my lease half way through.  Because this apartment was rented for education and because it's not my domicile, I was wondering if I could file the lease-termination expenses ($3500) as an investment loss.  Is this possible?  Note that I found a somewhat similar question here.  However, I assumed that the person asking the question declared his rented apartment as his domicile.  I have not done this.

 

Thank you

1 reply

Employee
April 10, 2020

Sorry, your fee to break your lease is not deductible.  Moving costs are not deductible except for certain active duty members of the military.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
R5busa10Author
April 10, 2020

Thank you