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Business & farm
That is not how our accountants years ago, booked the original anmount and I prefer to keep it as a current liability. I checked with IRS website and I’m wondering why your response is different than their recommnendation. Here is what I found on IRS website which reflects our position on the matter. Please let me know why you are recommending it to be income for 2024. Thank you.
Security deposits
Do not include a security deposit in your income when you receive it if you plan to return it to your tenant at the end of the lease
February 2, 2025
9:42 AM