KrisD15
Expert Alumni

Get your taxes done using TurboTax

Yes, you can use either method, rooms or square footage. Choose what makes more sense in your situation. 

Whichever you choose, use that same method year after year. 

 

Additionally, Security Deposits HELD are NOT income. 

Only when you KEEP a security deposit from a former tenant (for damage or breaking the lease) does it become income. 

 

 

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