Can I deduct the equivalent of rent if I don't have a mortgage payment on a home I use for business?

[ayseleren18]

Thank you for choosing Turbotax,

If you have this house and don't pay any rent for the house, you cannot deduct any rent equivalent for the rent. As per CRA, even if you paid the mortgage, you couldn't deduct the repayments of principal on your mortgage, you can deduct the mortgage interest.

If you rent your home, you can deduct the part of the rent and any expenses you incur that relate to the workspace.

Please see our TurboTax article Rules For Home Offices  For Home Offices to learn more about home office expenses.