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Do i have to claim and pay taxes on a settlement i won against my landlord for my security deposit and rent that was charged over the property value?

 
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AlanT
Expert Alumni

Do i have to claim and pay taxes on a settlement i won against my landlord for my security deposit and rent that was charged over the property value?

No, You do not have to claim and pay taxes on a settlement you won against your landlord for your security deposit and overpayment of rent. 

The security deposit and rent you gave the landlord is your money.  However, if the Court awarded you interest, it is possibly taxable income and you should declare it as other interest earned on your tax return.

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AlanT
Expert Alumni

Do i have to claim and pay taxes on a settlement i won against my landlord for my security deposit and rent that was charged over the property value?

No, You do not have to claim and pay taxes on a settlement you won against your landlord for your security deposit and overpayment of rent. 

The security deposit and rent you gave the landlord is your money.  However, if the Court awarded you interest, it is possibly taxable income and you should declare it as other interest earned on your tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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