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hokulolo
New Member

I rented a space for my office and paid a retainer/deposit in addition to the rent. Is the retainer/deposit deductible?

 
1 Reply
MelaineC
Level 1

I rented a space for my office and paid a retainer/deposit in addition to the rent. Is the retainer/deposit deductible?

No, you cannot deduct rent deposits as expenses until used, all or in part, to pay rent or damages and only then if allowed as a business expense.  To learn more about this, please see the entire TurboTax FAQ post below.
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